Archrock, Inc. $AROC Shares Purchased by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC has significantly increased its stake in Archrock, Inc. by 49.7%, owning approximately $7 million worth of shares as of the latest SEC filing.
• Research analysts have given Archrock an average rating of "Moderate Buy", with a target price of $30.00, reflecting positive sentiment in the market.
• Archrock recently declared an increased quarterly dividend of $0.21, up from $0.19, indicating a commitment to returning value to shareholders.

Intech Investment Management LLC boosted its position in Archrock, Inc. (NYSE:AROC - Free Report) by 49.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 266,820 shares of the energy company's stock after purchasing an additional 88,570 shares during the quarter. Intech Investment Management LLC owned about 0.15% of Archrock worth $7,001,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in Archrock by 164.8% during the 1st quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company's stock worth $26,000 after buying an additional 600 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Archrock in the first quarter worth about $33,000. Jones Financial Companies Lllp boosted its holdings in Archrock by 217.9% in the first quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company's stock valued at $35,000 after purchasing an additional 902 shares during the last quarter. TCTC Holdings LLC raised its stake in Archrock by 119.6% during the first quarter. TCTC Holdings LLC now owns 1,599 shares of the energy company's stock valued at $42,000 after buying an additional 871 shares in the last quarter. Finally, Bayforest Capital Ltd acquired a new stake in shares of Archrock during the 1st quarter worth approximately $47,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Archrock

In other Archrock news, SVP Eric W. Thode sold 10,000 shares of Archrock stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $23.54, for a total value of $235,400.00. Following the sale, the senior vice president directly owned 224,809 shares in the company, valued at approximately $5,292,003.86. The trade was a 4.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

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

Archrock Stock Performance

Shares of AROC traded down $0.05 during mid-day trading on Wednesday, hitting $24.00. 330,990 shares of the company's stock were exchanged, compared to its average volume of 1,422,871. Archrock, Inc. has a 52 week low of $19.73 and a 52 week high of $30.44. The company has a quick ratio of 1.30, a current ratio of 1.81 and a debt-to-equity ratio of 1.86. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 1.24 and a beta of 1.14. The stock's 50-day simple moving average is $23.84 and its 200-day simple moving average is $24.39.

Archrock (NYSE:AROC - Get Free Report) last posted its quarterly earnings data 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. Archrock had a return on equity of 18.74% and a net margin of 17.17%.The firm had revenue of $383.15 million during the quarter, compared to analyst estimates of $366.34 million. During the same period last year, the company posted $0.23 EPS. The business's quarterly revenue was up 41.6% on a year-over-year basis. On average, equities research analysts expect that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th were paid a dividend of $0.21 per share. The ex-dividend date was Tuesday, August 5th. This represents a $0.84 annualized dividend and a dividend yield of 3.5%. This is a boost from Archrock's previous quarterly dividend of $0.19. Archrock's dividend payout ratio is 63.64%.

Archrock Company 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.