Strs Ohio Invests $344,000 in Archrock, Inc. $AROC

Key Points

• Strs Ohio invested approximately $344,000 in Archrock, Inc., acquiring 13,100 shares in the first quarter.
• Archrock reported a quarterly earnings of $0.39 per share, exceeding the consensus estimate and marking a 41.6% increase in revenue compared to last year.
• The company announced a quarterly dividend of $0.21, an increase from the previous quarterly dividend, yielding 3.3% annually.

Strs Ohio acquired a new stake in shares of Archrock, Inc. (NYSE:AROC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,100 shares of the energy company's stock, valued at approximately $344,000.

Other institutional investors also recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky grew its stake in shares of Archrock by 34.4% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 55,528 shares of the energy company's stock valued at $1,457,000 after purchasing an additional 14,200 shares during the period. KBC Group NV grew its position in Archrock by 13.2% during the first quarter. KBC Group NV now owns 8,030 shares of the energy company's stock valued at $211,000 after buying an additional 937 shares during the period. GAMMA Investing LLC grew its position in Archrock by 26.7% during the first quarter. GAMMA Investing LLC now owns 9,098 shares of the energy company's stock valued at $239,000 after buying an additional 1,917 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Archrock by 53.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 27,402 shares of the energy company's stock valued at $725,000 after buying an additional 9,594 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Archrock in the first quarter worth approximately $522,000. Institutional investors own 95.45% of the company's stock.

Archrock Stock Up 4.1%

Shares of AROC opened at $25.49 on Wednesday. The business's 50 day moving average is $23.94 and its 200 day moving average is $24.38. The company has a current ratio of 1.81, a quick ratio of 1.30 and a debt-to-equity ratio of 1.86. Archrock, Inc. has a 12-month low of $19.73 and a 12-month high of $30.44. The company has a market capitalization of $4.48 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 1.26 and a beta of 1.14.

Archrock (NYSE:AROC - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $383.15 million during the quarter, compared to the consensus estimate of $366.34 million. Archrock had a return on equity of 18.74% and a net margin of 17.17%.The firm's revenue for the quarter was up 41.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 EPS. Research analysts expect that Archrock, Inc. will post 1.09 earnings per share for the current fiscal year.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were issued a $0.21 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $0.84 dividend on an annualized basis and a yield of 3.3%. This is an increase from Archrock's previous quarterly dividend of $0.19. Archrock's payout ratio is presently 63.64%.

Insider Buying and Selling at Archrock

In related news, Director Jason C. Rebrook purchased 5,000 shares of the firm's stock in a transaction on Monday, September 22nd. The shares were acquired at an average price of $23.94 per share, for a total transaction of $119,700.00. Following the purchase, the director directly owned 79,511 shares in the company, valued at $1,903,493.34. This trade represents a 6.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Eric W. Thode sold 10,000 shares of the firm's 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 transaction, 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 position. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AROC shares. Wells Fargo & Company began coverage on Archrock in a research note on Wednesday, September 3rd. They issued an "overweight" rating and a $30.00 price objective for the company. Evercore ISI cut their price target on Archrock from $32.00 to $31.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. Finally, Mizuho raised 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. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Archrock currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.00.

About Archrock

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.

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