Transcendent Capital Group LLC Invests $497,000 in Archrock, Inc. $AROC

Key Points

• Transcendent Capital Group LLC has invested approximately $497,000 in Archrock, Inc. by purchasing 20,018 shares during the second quarter.
• Archrock has received positive analyst ratings, with seven analysts giving a Buy rating and an average target price of $30.00 for the stock.
• The company recently increased its quarterly dividend from $0.19 to $0.21 per share, resulting in an annualized dividend of $0.84 and a dividend yield of 3.5%.

Transcendent Capital Group LLC purchased a new position in shares of Archrock, Inc. (NYSE:AROC - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 20,018 shares of the energy company's stock, valued at approximately $497,000.

Other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in 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 during the period. Jones Financial Companies Lllp increased its position in Archrock by 217.9% in the 1st quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company's stock valued at $35,000 after acquiring an additional 902 shares during the period. TCTC Holdings LLC increased its position in Archrock by 119.6% in 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 acquired a new stake in Archrock in the 1st quarter valued at approximately $47,000. Finally, State of Wyoming acquired a new stake in Archrock in the 1st quarter valued at approximately $53,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AROC has been the topic of several analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of Archrock in a research report on Wednesday. Wells Fargo & Company initiated coverage on Archrock in a research report on Wednesday, September 3rd. They issued an "overweight" rating and a $30.00 target price on the stock. Mizuho raised their target price on Archrock from $31.00 to $32.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Finally, Evercore ISI decreased their price target on Archrock from $32.00 to $31.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $30.00.

Archrock Stock Performance

Shares of NYSE AROC opened at $23.88 on Friday. The stock has a fifty day moving average price of $24.54 and a two-hundred day moving average price of $24.36. 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 firm has a market cap of $4.20 billion, a P/E ratio of 18.09, a PEG ratio of 1.23 and a beta of 1.07. Archrock, Inc. has a 1 year low of $19.73 and a 1 year high of $30.44.

Archrock (NYSE:AROC - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $383.15 million during 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 firm's quarterly revenue was up 41.6% on a year-over-year basis. During the same period last year, the company posted $0.23 EPS. Research analysts forecast that Archrock, Inc. will post 1.09 EPS for the current fiscal year.

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.84 annualized dividend and a dividend yield of 3.5%. This is a boost from Archrock's previous quarterly dividend of $0.19. Archrock's dividend payout ratio is 63.64%.

Insider Buying and Selling at Archrock

In other news, SVP Eric W. Thode sold 10,000 shares of the firm's stock in a transaction on 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 directly owned 224,809 shares of the company's stock, valued at $5,292,003.86. This trade represents a 4.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jason C. Rebrook acquired 5,000 shares of Archrock stock in a transaction dated Monday, September 22nd. The shares were bought at an average cost of $23.94 per share, with a total value of $119,700.00. Following the completion of the purchase, the director owned 79,511 shares in the company, valued at approximately $1,903,493.34. This represents a 6.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.60% of the company's stock.

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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