Exchange Traded Concepts LLC Trims Stake in Archrock, Inc. $AROC

Key Points

• Exchange Traded Concepts LLC reduced its position in Archrock, Inc. by 4.8% during Q2, selling 19,684 shares and owning approximately 0.22% of the company by the end of the quarter.
• Archrock recently announced a dividend increase from $0.19 to $0.21 per share, representing an annualized yield of 3.4% with a payout ratio of 63.64%.
• Archrock's stock showed a 2.6% increase in trading, with recent quarterly earnings exceeding analysts’ estimates, reporting $0.39 EPS on revenue of $383.15 million.

Exchange Traded Concepts LLC trimmed its position in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 4.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 393,174 shares of the energy company's stock after selling 19,684 shares during the period. Exchange Traded Concepts LLC owned 0.22% of Archrock worth $9,763,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. City Center Advisors LLC acquired a new stake in shares of Archrock during the 2nd quarter worth approximately $256,000. First Hawaiian Bank purchased a new position in shares of Archrock during the first quarter valued at approximately $665,000. Strs Ohio purchased a new stake in Archrock in the first quarter worth $344,000. Intech Investment Management LLC boosted its holdings in Archrock by 49.7% in the first quarter. Intech Investment Management LLC now owns 266,820 shares of the energy company's stock worth $7,001,000 after acquiring an additional 88,570 shares in the last quarter. Finally, Bayforest Capital Ltd bought a new position in shares of Archrock during the first quarter valued at $47,000. Institutional investors own 95.45% of the company's stock.

Insider Transactions at Archrock

In related news, Director Jason C. Rebrook purchased 10,000 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The shares were acquired at an average price of $24.17 per share, for a total transaction of $241,700.00. Following the completion of the acquisition, the director directly owned 64,511 shares in the company, valued at approximately $1,559,230.87. The trade was a 18.34% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Eric W. Thode sold 10,000 shares of Archrock stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $23.54, for a total value of $235,400.00. Following the completion of the transaction, the senior vice president directly owned 224,809 shares of the company's stock, valued at approximately $5,292,003.86. This represents a 4.26% decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AROC has been the subject of a number of research reports. Mizuho increased their price target on Archrock from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Evercore ISI dropped their price target on Archrock from $32.00 to $31.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company began coverage on Archrock in a research note on Wednesday, September 3rd. They issued an "overweight" rating and a $30.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $30.00.

Archrock Price Performance

NYSE AROC traded down $0.37 on Friday, reaching $24.09. The company's stock had a trading volume of 3,583,957 shares, compared to its average volume of 1,436,521. The company has a current ratio of 1.81, a quick ratio of 1.30 and a debt-to-equity ratio of 1.86. The firm has a market cap of $4.24 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 1.24 and a beta of 1.14. Archrock, Inc. has a 52 week low of $19.73 and a 52 week high of $30.44. The business has a 50-day moving average price of $23.88 and a 200 day moving average price of $24.36.

Archrock (NYSE:AROC - Get Free Report) last posted its earnings results on Monday, August 4th. The energy company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. The company had revenue of $383.15 million for the quarter, compared to analyst estimates of $366.34 million. Archrock had a net margin of 17.17% and a return on equity of 18.74%. The business's revenue for the quarter was up 41.6% compared to the same quarter last year. During the same period last year, the business posted $0.23 earnings per share. Sell-side analysts expect that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were given a dividend of $0.21 per share. The ex-dividend date was Tuesday, August 5th. This is an increase from Archrock's previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a yield of 3.5%. Archrock's dividend payout ratio (DPR) is currently 63.64%.

Archrock Profile

Archrock, Inc, together with its subsidiaries, operates as an energy infrastructure company in the United States. The company operates in two segments, Contract Operations and Aftermarket Services. It engages in the designing, sourcing, owning, installing, operating, servicing, repairing, and maintaining of its owned fleet of natural gas compression equipment to provide natural gas compression services.