Quantinno Capital Management LP Has $2.20 Million Stake in Archrock, Inc. $AROC

Key Points

• Quantinno Capital Management doubled its Archrock position in the first quarter, adding 31,663 shares to own 63,212 shares valued at approximately $2.2 million. Institutional investors collectively hold 95.45% of Archrock’s stock.
• Analysts remain broadly positive, with a consensus “Buy” rating and an average price target of $41.29, versus the reported share price of $33.06.
• Archrock raised its quarterly dividend to $0.23 per share, or $0.92 annually, representing a 2.8% yield. However, its latest quarterly earnings and revenue fell short of analyst expectations, with EPS of $0.38 and revenue of $371.24 million.

Quantinno Capital Management LP raised its position in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 100.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,212 shares of the energy company's stock after purchasing an additional 31,663 shares during the quarter. Quantinno Capital Management LP's holdings in Archrock were worth $2,200,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Neuberger Berman Group LLC boosted its position in shares of Archrock by 9,756.7% in the fourth quarter. Neuberger Berman Group LLC now owns 1,293,002 shares of the energy company's stock worth $33,644,000 after buying an additional 1,279,884 shares during the period. Stephens Investment Management Group LLC purchased a new stake in Archrock in the 4th quarter worth about $32,904,000. Norges Bank purchased a new stake in Archrock in the 4th quarter worth about $18,721,000. Balyasny Asset Management L.P. acquired a new stake in Archrock during the 2nd quarter worth about $16,027,000. Finally, Millennium Management LLC boosted its position in Archrock by 43.8% during the 3rd quarter. Millennium Management LLC now owns 2,009,230 shares of the energy company's stock worth $52,863,000 after acquiring an additional 611,773 shares during the period. Hedge funds and other institutional investors own 95.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AROC shares. Raymond James Financial reiterated an "outperform" rating and issued a $46.00 target price on shares of Archrock in a report on Thursday, May 7th. Citigroup raised their price target on shares of Archrock from $40.00 to $43.00 and gave the stock a "buy" rating in a report on Wednesday, May 13th. Mizuho boosted their price objective on shares of Archrock from $38.00 to $40.00 and gave the company an "outperform" rating in a research report on Wednesday, June 3rd. Weiss Ratings raised shares of Archrock from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Tuesday, July 28th. Finally, Stifel Nicolaus set a $41.00 price objective on shares of Archrock in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $41.29.

Archrock Trading Down 0.1%

NYSE:AROC opened at $33.06 on Tuesday. The company has a market capitalization of $5.80 billion, a P/E ratio of 17.77, a P/E/G ratio of 1.53 and a beta of 0.86. The stock's 50 day moving average price is $36.77 and its 200 day moving average price is $35.50. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.94 and a current ratio of 1.39. Archrock, Inc. has a 52 week low of $22.88 and a 52 week high of $42.23.

Archrock (NYSE:AROC - Get Free Report) last posted its earnings results on Tuesday, August 4th. The energy company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.07). Archrock had a return on equity of 22.22% and a net margin of 21.84%.The business had revenue of $371.24 million during the quarter, compared to the consensus estimate of $393.19 million. During the same period in the prior year, the firm earned $0.39 earnings per share. The business's revenue was down 3.1% on a year-over-year basis. On average, research analysts forecast that Archrock, Inc. will post 1.81 EPS for the current fiscal year.

Archrock Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, August 4th will be issued a $0.23 dividend. This is a boost from Archrock's previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Tuesday, August 4th. Archrock's dividend payout ratio is currently 49.46%.

Insider Buying and Selling at Archrock

In other Archrock news, SVP Jason Ingersoll sold 33,000 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $38.19, for a total transaction of $1,260,270.00. Following the transaction, the senior vice president directly owned 277,454 shares of the company's stock, valued at $10,595,968.26. This represents a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Doug S. Aron sold 90,000 shares of the firm's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $36.74, for a total value of $3,306,600.00. Following the transaction, the chief financial officer owned 394,337 shares in the company, valued at approximately $14,487,941.38. This trade represents a 18.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 158,000 shares of company stock worth $5,907,370 over the last three months. Company insiders own 2.90% of the company's stock.

Archrock Company Profile

Archrock, Inc is a Houston‐based provider of natural gas compression services and equipment to the oil and gas industry in North America. Founded in 2004, the company supplies both short‐term rentals and long‐term contracts for compression solutions, serving upstream and midstream producers. Archrock's offerings include engineered compression systems, aftermarket parts, maintenance and field services designed to optimize wellhead and pipeline operations.

The company's core business activities focus on the design, manufacture, rental and sale of gas compression equipment.

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