Nuveen Asset Management LLC Sells 148,879 Shares of Archrock, Inc. (NYSE:AROC)

Nuveen Asset Management LLC lessened its position in Archrock, Inc. (NYSE:AROC - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,645,748 shares of the energy company's stock after selling 148,879 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.94% of Archrock worth $40,963,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Archrock in the fourth quarter valued at approximately $36,241,000. Invesco Ltd. grew its stake in Archrock by 12.8% in the fourth quarter. Invesco Ltd. now owns 8,883,949 shares of the energy company's stock valued at $221,121,000 after purchasing an additional 1,008,438 shares in the last quarter. Clearbridge Investments LLC bought a new position in Archrock in the fourth quarter valued at approximately $17,247,000. Millennium Management LLC grew its stake in Archrock by 186.0% in the fourth quarter. Millennium Management LLC now owns 1,047,346 shares of the energy company's stock valued at $26,068,000 after purchasing an additional 681,160 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Archrock by 135.1% in the fourth quarter. JPMorgan Chase & Co. now owns 993,063 shares of the energy company's stock valued at $24,717,000 after purchasing an additional 570,680 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AROC. Citigroup raised their price target on Archrock from $32.00 to $33.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. Sidoti upgraded Archrock to a "hold" rating in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Archrock has an average rating of "Moderate Buy" and an average target price of $26.67.

Insider Transactions at Archrock

In related news, SVP Jason Ingersoll sold 42,036 shares of the business's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $24.49, for a total value of $1,029,461.64. Following the completion of the sale, the senior vice president now directly owns 275,911 shares in the company, valued at $6,757,060.39. The trade was a 13.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Archrock Stock Performance

Shares of NYSE AROC traded up $0.32 during midday trading on Friday, hitting $24.80. 931,342 shares of the company's stock were exchanged, compared to its average volume of 1,435,997. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. Archrock, Inc. has a 12 month low of $17.27 and a 12 month high of $30.44. The company's 50 day moving average price is $24.52 and its 200 day moving average price is $25.55. The firm has a market capitalization of $4.38 billion, a PE ratio of 27.25, a price-to-earnings-growth ratio of 1.60 and a beta of 1.19.

Archrock (NYSE:AROC - Get Free Report) last issued its earnings results on Monday, May 5th. The energy company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.39 by $0.03. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The company had revenue of $347.16 million during the quarter, compared to the consensus estimate of $342.98 million. As a group, analysts predict that Archrock, Inc. will post 1.09 earnings per share for the current fiscal year.

Archrock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.76 annualized dividend and a dividend yield of 3.07%. Archrock's dividend payout ratio is currently 64.41%.

Archrock announced that its board has initiated a stock buyback plan on Monday, May 5th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the energy company to purchase up to 1.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

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.