Intech Investment Management LLC Sells 28,096 Shares of Archrock, Inc. $AROC

Intech Investment Management LLC reduced its holdings in shares of Archrock, Inc. (NYSE:AROC) by 21.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 100,274 shares of the energy company’s stock after selling 28,096 shares during the period. Intech Investment Management LLC’s holdings in Archrock were worth $2,609,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AROC. Sound Income Strategies LLC grew its holdings in shares of Archrock by 71.0% in the 4th quarter. Sound Income Strategies LLC now owns 971 shares of the energy company’s stock valued at $26,000 after acquiring an additional 403 shares in the last quarter. Ameriflex Group Inc. bought a new position in shares of Archrock in the 3rd quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Archrock in the 4th quarter valued at about $33,000. Jones Financial Companies Lllp grew its holdings in shares of 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 in the last quarter. Finally, Covestor Ltd grew its stake in Archrock by 234.9% in the fourth quarter. Covestor Ltd now owns 1,410 shares of the energy company’s stock valued at $37,000 after purchasing an additional 989 shares in the last quarter. 95.45% of the stock is owned by institutional investors.

Insider Buying and Selling at Archrock

In other Archrock news, CFO Doug S. Aron sold 35,000 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $38.30, for a total transaction of $1,340,500.00. Following the completion of the sale, the chief financial officer owned 359,337 shares of the company’s stock, valued at $13,762,607.10. This trade represents a 8.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jason Ingersoll sold 33,000 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $38.19, for a total value of $1,260,270.00. Following the sale, the senior vice president directly owned 277,454 shares of the company’s stock, valued at $10,595,968.26. This represents a 10.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 327,550 shares of company stock valued at $11,861,703 in the last ninety days. Insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AROC shares. Citigroup raised their price target on Archrock from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Weiss Ratings raised shares of Archrock from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 6th. Mizuho raised their target price on shares of Archrock from $32.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, April 2nd. Dawson James reissued an “outperform” rating on shares of Archrock in a research note on Wednesday, February 25th. Finally, Royal Bank Of Canada raised their target price on shares of Archrock from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, March 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $40.86.

Archrock Price Performance

NYSE:AROC opened at $34.17 on Wednesday. Archrock, Inc. has a 1-year low of $21.17 and a 1-year high of $40.12. The company has a current ratio of 1.41, a quick ratio of 0.91 and a debt-to-equity ratio of 1.57. The firm has a fifty day simple moving average of $36.44 and a 200 day simple moving average of $31.42. The stock has a market capitalization of $5.99 billion, a PE ratio of 18.57, a P/E/G ratio of 1.41 and a beta of 0.87.

Archrock (NYSE:AROC) last released its earnings results on Tuesday, May 5th. The energy company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.05). Archrock had a net margin of 21.45% and a return on equity of 22.89%. The firm had revenue of $373.77 million during the quarter, compared to the consensus estimate of $378.36 million. Archrock’s revenue was up 7.7% compared to the same quarter last year. On average, research analysts expect that Archrock, Inc. will post 1.95 EPS for the current fiscal year.

Archrock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 12th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.88 annualized dividend and a yield of 2.6%. Archrock’s dividend payout ratio (DPR) is currently 47.83%.

About Archrock

Archrock, Inc is a Houston‐based provider of natural gas compression services and equipment to the oil and gas industry in North America. Founded in 2004, the company supplies both short‐term rentals and long‐term contracts for compression solutions, serving upstream and midstream producers. Archrock’s offerings include engineered compression systems, aftermarket parts, maintenance and field services designed to optimize wellhead and pipeline operations.

The company’s core business activities focus on the design, manufacture, rental and sale of gas compression equipment.