Mutual of America Capital Management LLC Reduces Holdings in Archrock, Inc. (NYSE:AROC)

Mutual of America Capital Management LLC lowered its position in Archrock, Inc. (NYSE:AROC) by 3.9% during the 1st quarter, HoldingsChannel reports. The fund owned 25,506 shares of the energy company’s stock after selling 1,028 shares during the period. Mutual of America Capital Management LLC’s holdings in Archrock were worth $669,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AROC. Farther Finance Advisors LLC lifted its stake in Archrock by 164.8% in the first quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company’s stock worth $26,000 after acquiring an additional 600 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Archrock in the 1st quarter valued at about $33,000. TCTC Holdings LLC lifted its position in shares of Archrock by 119.6% in the 1st quarter. TCTC Holdings LLC now owns 1,599 shares of the energy company’s stock worth $42,000 after purchasing an additional 871 shares during the period. Bayforest Capital Ltd bought a new position in shares of Archrock during the first quarter valued at approximately $47,000. Finally, Montag A & Associates Inc. increased its holdings in Archrock by 57.3% during the first quarter. Montag A & Associates Inc. now owns 3,474 shares of the energy company’s stock valued at $91,000 after buying an additional 1,265 shares during the period. Institutional investors own 95.45% of the company’s stock.

Wall Street Analyst Weigh In

AROC has been the subject of a number of analyst reports. 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. Sidoti raised Archrock to a “hold” rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.40.

Archrock Price Performance

Shares of AROC opened at $23.46 on Tuesday. The company has a 50 day moving average of $24.06 and a two-hundred day moving average of $24.96. The company has a quick ratio of 1.30, a current ratio of 1.81 and a debt-to-equity ratio of 1.86. Archrock, Inc. has a twelve month low of $18.38 and a twelve month high of $30.44. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 1.20 and a beta of 1.10.

Archrock (NYSE:AROC) last issued its quarterly earnings data on Monday, August 4th. The energy company reported $0.39 EPS for the quarter, beating the consensus estimate 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 business’s revenue for the quarter was up 41.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 EPS. As a group, analysts predict that Archrock, Inc. will post 1.09 earnings per share for the current fiscal year.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th will be issued a $0.21 dividend. This is a boost from Archrock’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, August 5th. Archrock’s dividend payout ratio is 63.64%.

Archrock declared that its board has initiated a stock buyback plan on Monday, May 5th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the energy company to reacquire up to 1.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.