Los Angeles Capital Management LLC Sells 4,715 Shares of Archrock, Inc. $AROC

Los Angeles Capital Management LLC lessened its holdings in Archrock, Inc. (NYSE:AROC) by 7.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,214 shares of the energy company’s stock after selling 4,715 shares during the period. Los Angeles Capital Management LLC’s holdings in Archrock were worth $1,495,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AROC. Nuveen LLC purchased a new stake in shares of Archrock in the 1st quarter valued at about $43,092,000. Driehaus Capital Management LLC purchased a new stake in Archrock in the first quarter valued at approximately $25,374,000. Wellington Management Group LLP bought a new stake in Archrock during the first quarter valued at approximately $12,359,000. American Century Companies Inc. grew its stake in Archrock by 9.4% in the 1st quarter. American Century Companies Inc. now owns 5,388,964 shares of the energy company’s stock worth $141,406,000 after buying an additional 461,940 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Archrock by 84.3% in the 1st quarter. Victory Capital Management Inc. now owns 919,982 shares of the energy company’s stock worth $24,140,000 after buying an additional 420,757 shares during the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Archrock news, SVP Eric W. Thode sold 40,740 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $25.10, for a total transaction of $1,022,574.00. Following the completion of the sale, the senior vice president owned 184,216 shares of the company’s stock, valued at $4,623,821.60. This represents a 18.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jason C. Rebrook purchased 5,000 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was purchased at an average cost of $23.94 per share, for a total transaction of $119,700.00. Following the acquisition, the director owned 79,511 shares in the company, valued at approximately $1,903,493.34. The trade was a 6.71% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AROC. Evercore ISI raised their price objective on shares of Archrock from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Royal Bank Of Canada lifted their price target on Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Wells Fargo & Company initiated coverage on Archrock in a research report on Wednesday, September 3rd. They set an “overweight” rating and a $30.00 price objective on the stock. Mizuho raised their price objective on Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Archrock in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Archrock currently has a consensus rating of “Buy” and an average target price of $31.50.

Archrock Stock Down 1.6%

AROC opened at $24.59 on Wednesday. Archrock, Inc. has a 12 month low of $20.12 and a 12 month high of $30.44. The company has a current ratio of 1.81, a quick ratio of 1.30 and a debt-to-equity ratio of 1.86. The business’s 50-day moving average price is $24.94 and its 200-day moving average price is $24.54. The company has a market cap of $4.31 billion, a P/E ratio of 16.39, a P/E/G ratio of 1.29 and a beta of 1.11.

Archrock (NYSE:AROC) last posted its quarterly earnings results on Tuesday, October 28th. The energy company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.01. Archrock had a return on equity of 20.40% and a net margin of 18.43%.The business had revenue of $382.43 million for the quarter, compared to analyst estimates of $379.29 million. During the same period last year, the company earned $0.28 EPS. Archrock’s revenue for the quarter was up 30.9% compared to the same quarter last year. On average, equities analysts expect that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Tuesday, November 4th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, November 4th. Archrock’s payout ratio is presently 56.00%.

Archrock Profile

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.