Archrock, Inc. $AROC Shares Sold by PDT Partners LLC

Key Points

• PDT Partners LLC reduced its position in Archrock, Inc. by 34.9% in the first quarter, holding approximately 102,050 shares valued at $2.68 million after the sale.
• Archrock’s latest quarterly earnings beat estimates with an EPS of $0.39 on revenue of $383.15 million, marking a 41.6% year-over-year increase in revenue.
• The company recently increased its quarterly dividend to $0.21, reflecting a yield of 3.4%, alongside a newly approved stock buyback plan of $50 million.

PDT Partners LLC lowered its stake in Archrock, Inc. (NYSE:AROC - Free Report) by 34.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,050 shares of the energy company's stock after selling 54,764 shares during the quarter. PDT Partners LLC owned about 0.06% of Archrock worth $2,678,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AROC. Farther Finance Advisors LLC grew its holdings in Archrock by 164.8% during the 1st quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company's stock valued at $26,000 after buying an additional 600 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Archrock during the 1st quarter valued at $33,000. TCTC Holdings LLC boosted its holdings in Archrock by 119.6% during the 1st quarter. TCTC Holdings LLC now owns 1,599 shares of the energy company's stock valued at $42,000 after acquiring an additional 871 shares during the period. Bayforest Capital Ltd purchased a new position in Archrock during the 1st quarter valued at $47,000. Finally, State of Wyoming purchased a new stake in shares of Archrock in the 1st quarter worth $53,000. Hedge funds and other institutional investors own 95.45% of the company's stock.

Insider Activity at Archrock

In other news, SVP Eric W. Thode sold 10,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $23.54, for a total value of $235,400.00. Following the completion of the sale, the senior vice president directly owned 224,809 shares in the company, valued at $5,292,003.86. This represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AROC. Evercore ISI lowered their target price on Archrock from $32.00 to $31.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. Mizuho upped their price objective on Archrock from $31.00 to $32.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Finally, Wells Fargo & Company began coverage on Archrock in a research note on Wednesday. They set an "overweight" rating and a $30.00 price objective for the company. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $30.00.

Archrock Stock Performance

Shares of NYSE AROC traded down $0.18 during mid-day trading on Friday, hitting $25.27. The stock had a trading volume of 1,703,882 shares, compared to its average volume of 1,299,648. The firm has a market cap of $4.44 billion, a PE ratio of 19.14, a PEG ratio of 1.30 and a beta of 1.14. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.30 and a current ratio of 1.81. The company has a 50 day moving average of $23.86 and a two-hundred day moving average of $24.50. Archrock, Inc. has a twelve month low of $18.38 and a twelve month high of $30.44.

Archrock (NYSE:AROC - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The energy company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.02. The business had revenue of $383.15 million for the quarter, compared to analyst estimates of $366.34 million. Archrock had a return on equity of 18.74% and a net margin of 17.17%.The company's revenue was up 41.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.23 earnings per share. Research analysts predict that Archrock, Inc. will post 1.09 EPS for the current fiscal year.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.3%. This is a positive change from Archrock's previous quarterly dividend of $0.19. The ex-dividend date was Tuesday, August 5th. 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.