Key Points
- CFO Doug Aron sold 71,500 shares on March 27 at an average price of $35.61 for proceeds of $2.55M, reducing his stake by 10.93% to 582,387 shares (SEC filing).
- Archrock beat expectations on EPS, reporting $0.69 versus the $0.40 consensus while revenue was $377.1M (slightly below the $378.0M estimate) and revenue rose 15.5% year‑over‑year.
- The company raised its quarterly dividend to $0.22 (annualized $0.88, yield ~2.5%), and analysts hold a generally positive view with an average target of $39 and mostly Buy ratings.
Archrock, Inc. (NYSE:AROC - Get Free Report) CFO Doug Aron sold 71,500 shares of the company's stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $35.61, for a total transaction of $2,546,115.00. Following the completion of the transaction, the chief financial officer directly owned 582,387 shares of the company's stock, valued at approximately $20,738,801.07. The trade was a 10.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Archrock Stock Up 1.6%
Shares of Archrock stock opened at $34.69 on Friday. Archrock, Inc. has a 1-year low of $20.12 and a 1-year high of $37.72. The company has a market capitalization of $6.08 billion, a PE ratio of 18.96, a P/E/G ratio of 1.42 and a beta of 0.91. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.54 and a quick ratio of 0.99. The business has a 50-day moving average of $33.61 and a 200-day moving average of $28.09.
Archrock (NYSE:AROC - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The energy company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.40 by $0.29. The business had revenue of $377.07 million for the quarter, compared to analysts' expectations of $378.04 million. Archrock had a return on equity of 23.57% and a net margin of 21.63%.The company's revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 earnings per share. As a group, equities analysts forecast that Archrock, Inc. will post 1.09 EPS for the current fiscal year.
Archrock Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Tuesday, February 10th were paid a dividend of $0.22 per share. This is an increase from Archrock's previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 10th. This represents a $0.88 annualized dividend and a dividend yield of 2.5%. Archrock's dividend payout ratio (DPR) is currently 48.09%.
Hedge Funds Weigh In On Archrock
Several large investors have recently added to or reduced their stakes in AROC. Hsbc Holdings PLC boosted its holdings in Archrock by 40.7% in the fourth quarter. Hsbc Holdings PLC now owns 127,471 shares of the energy company's stock worth $3,309,000 after purchasing an additional 36,847 shares during the period. Rockefeller Capital Management L.P. raised its holdings in shares of Archrock by 100.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 8,052 shares of the energy company's stock worth $210,000 after purchasing an additional 4,026 shares during the period. Corient Private Wealth LLC lifted its position in shares of Archrock by 247.4% in the 4th quarter. Corient Private Wealth LLC now owns 105,063 shares of the energy company's stock worth $2,734,000 after buying an additional 74,818 shares during the last quarter. Invesco Ltd. lifted its position in shares of Archrock by 5.5% in the 4th quarter. Invesco Ltd. now owns 8,719,020 shares of the energy company's stock worth $226,869,000 after buying an additional 457,569 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of Archrock by 20.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 18,519 shares of the energy company's stock worth $482,000 after buying an additional 3,122 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. Mizuho increased their price objective on shares of Archrock from $32.00 to $38.00 and gave the company an "outperform" rating in a research note on Thursday. Wall Street Zen lowered shares of Archrock from a "buy" rating to a "hold" rating in a research note on Sunday, March 8th. Zacks Research raised shares of Archrock from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 3rd. Weiss Ratings reiterated a "buy (b)" rating on shares of Archrock in a research note on Wednesday, January 21st. Finally, Citigroup boosted their price objective on Archrock from $31.00 to $40.00 and gave the company a "buy" rating in a report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $39.00.
Check Out Our Latest Analysis on Archrock
About Archrock
(
Get Free Report)
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.
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