Russell Investments Group Ltd. raised its holdings in Archrock, Inc. (NYSE:AROC - Free Report) by 256.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,571 shares of the energy company's stock after purchasing an additional 49,351 shares during the quarter. Russell Investments Group Ltd.'s holdings in Archrock were worth $1,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently bought and sold shares of the company. Chicago Partners Investment Group LLC raised its holdings in shares of Archrock by 1.4% in the 1st quarter. Chicago Partners Investment Group LLC now owns 38,161 shares of the energy company's stock valued at $1,001,000 after acquiring an additional 521 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Archrock by 4.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,761 shares of the energy company's stock valued at $335,000 after acquiring an additional 574 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of Archrock by 6.0% in the 1st quarter. Ballentine Partners LLC now owns 10,133 shares of the energy company's stock valued at $266,000 after acquiring an additional 575 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Archrock by 164.8% in the 1st quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company's stock valued at $26,000 after acquiring an additional 600 shares in the last quarter. Finally, New York State Teachers Retirement System raised its holdings in shares of Archrock by 0.4% in the 1st quarter. New York State Teachers Retirement System now owns 146,819 shares of the energy company's stock valued at $3,853,000 after acquiring an additional 600 shares in the last quarter. Institutional investors own 95.45% of the company's stock.
Insider Activity at Archrock
In other Archrock news, SVP Eric W. Thode sold 10,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $23.54, for a total transaction of $235,400.00. Following the completion of the sale, the senior vice president owned 224,809 shares of the company's stock, valued at approximately $5,292,003.86. The trade was a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.60% of the stock is owned by insiders.
Archrock Stock Down 0.3%
Shares of AROC traded down $0.07 on Friday, reaching $24.76. The stock had a trading volume of 1,153,692 shares, compared to its average volume of 1,561,737. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 1.28 and a beta of 1.10. 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 simple moving average of $23.83 and a 200-day simple moving average of $24.61. Archrock, Inc. has a 12-month low of $18.38 and a 12-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 (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.02. The business had revenue of $383.15 million during the quarter, compared to analysts' expectations of $366.34 million. Archrock had a return on equity of 18.74% and a net margin of 17.17%.The firm's quarterly revenue was up 41.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 earnings per share. Sell-side analysts predict that Archrock, Inc. will post 1.09 EPS for the current year.
Archrock announced that its board has initiated a stock buyback plan on Monday, May 5th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the energy company to buy up to 1.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.
Archrock Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were issued a $0.21 dividend. The ex-dividend date of this dividend 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 dividend yield of 3.4%. Archrock's dividend payout ratio is presently 63.64%.
Analyst Upgrades and Downgrades
Several analysts have weighed in on AROC shares. Evercore ISI lowered their price target on Archrock from $32.00 to $31.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Sidoti raised Archrock to a "hold" rating in a report on Wednesday, May 7th. Finally, Mizuho increased their price objective on Archrock from $31.00 to $32.00 and gave the company an "outperform" rating in a research report on Friday. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $30.00.
Get Our Latest Report on AROC
About Archrock
(
Free Report)
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.
Further Reading
Before you consider Archrock, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Archrock wasn't on the list.
While Archrock currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
