Icon Advisers Inc. Co. Sells 180,000 Shares of Archrock, Inc. $AROC

Icon Advisers Inc. Co. reduced its position in Archrock, Inc. (NYSE:AROC) by 78.3% in the 1st quarter, HoldingsChannel reports. The firm owned 50,000 shares of the energy company’s stock after selling 180,000 shares during the period. Icon Advisers Inc. Co.’s holdings in Archrock were worth $1,740,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sound Income Strategies LLC increased its position in Archrock by 71.0% during the fourth quarter. Sound Income Strategies LLC now owns 971 shares of the energy company’s stock worth $26,000 after buying an additional 403 shares during the last quarter. Valued Wealth Advisors LLC acquired a new stake in shares of Archrock in the first quarter valued at approximately $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Archrock in the fourth quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Archrock during the 4th quarter worth approximately $33,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Archrock by 217.9% during the 1st quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company’s stock worth $35,000 after acquiring an additional 902 shares during the period. Institutional investors own 95.45% of the company’s stock.

Archrock Price Performance

Shares of NYSE AROC opened at $38.30 on Thursday. The firm has a market cap of $6.71 billion, a P/E ratio of 20.81, a price-to-earnings-growth ratio of 1.68 and a beta of 0.84. The business’s 50 day moving average is $37.14 and its 200-day moving average is $34.68. The company has a current ratio of 1.41, a quick ratio of 0.91 and a debt-to-equity ratio of 1.57. Archrock, Inc. has a 1-year low of $21.17 and a 1-year high of $42.23.

Archrock (NYSE:AROC) last released its quarterly earnings results on Tuesday, May 5th. The energy company reported $0.42 earnings per share (EPS) 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. The business’s revenue was up 7.7% on a year-over-year basis. Equities research analysts predict that Archrock, Inc. will post 1.9 earnings per share for the current year.

Archrock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.3%. Archrock’s dividend payout ratio (DPR) is currently 47.83%.

Insider Transactions at Archrock

In other news, SVP Jason Ingersoll sold 33,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president owned 277,454 shares of the company’s stock, valued at approximately $10,595,968.26. The trade was a 10.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Doug S. Aron sold 35,000 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $38.30, for a total transaction of $1,340,500.00. Following the completion of the transaction, the chief financial officer owned 359,337 shares in the company, valued at $13,762,607.10. This trade represents a 8.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 158,000 shares of company stock valued at $5,907,370. 2.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AROC shares. Royal Bank Of Canada increased their price target on Archrock from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday. Wells Fargo & Company lifted their price objective on shares of Archrock from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Weiss Ratings downgraded shares of Archrock from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, July 13th. Mizuho raised their target price on shares of Archrock from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $46.00 price target on shares of Archrock in a research note on Thursday, May 7th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Archrock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.71.

Archrock Company Profile

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.