Key Points
- Archrock CFO Doug Aron sold 90,000 shares on May 14 at an average price of $36.74, for proceeds of about $3.31 million. After the sale, he still held 394,337 shares, reducing his ownership by 18.58%.
- The company recently missed earnings expectations, reporting Q1 EPS of $0.42 versus the $0.47 consensus, while revenue came in at $373.77 million, slightly below estimates but still up 7.7% year over year.
- Archrock continues to draw Wall Street support, with analysts maintaining a consensus “Buy” rating and an average price target of $40.86. The company also declared a quarterly dividend of $0.22 per share, equal to a 2.3% annualized yield.
Archrock, Inc. (NYSE:AROC - Get Free Report) CFO Doug Aron sold 35,000 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $38.30, for a total value 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 approximately $13,762,607.10. This trade represents a 8.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Archrock Stock Up 3.1%
Archrock stock opened at $38.60 on Tuesday. The firm has a market cap of $6.76 billion, a price-to-earnings ratio of 20.98, a P/E/G ratio of 1.60 and a beta of 0.94. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.41 and a quick ratio of 0.91. Archrock, Inc. has a fifty-two week low of $21.17 and a fifty-two week high of $40.12. The firm has a fifty day moving average price of $36.34 and a two-hundred day moving average price of $30.64.
Archrock (NYSE:AROC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The energy company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.05). Archrock had a return on equity of 22.89% and a net margin of 21.45%.The business had revenue of $373.77 million for the quarter, compared to analyst estimates of $378.36 million. The company's revenue was up 7.7% compared to the same quarter last year. As a group, analysts forecast that Archrock, Inc. will post 1.95 earnings per share for the current year.
Archrock Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 12th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, May 12th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.3%. Archrock's payout ratio is 47.83%.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the stock. Invesco Ltd. raised its stake in Archrock by 5.5% during the fourth quarter. Invesco Ltd. now owns 8,719,020 shares of the energy company's stock worth $226,869,000 after acquiring an additional 457,569 shares in the last quarter. State Street Corp raised its stake in Archrock by 2.2% during the fourth quarter. State Street Corp now owns 7,018,889 shares of the energy company's stock worth $182,631,000 after acquiring an additional 152,312 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Archrock by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,833,290 shares of the energy company's stock worth $177,805,000 after acquiring an additional 111,218 shares in the last quarter. American Century Companies Inc. raised its stake in Archrock by 3.3% during the third quarter. American Century Companies Inc. now owns 6,077,999 shares of the energy company's stock worth $159,912,000 after acquiring an additional 191,914 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Archrock by 3.5% during the third quarter. Sei Investments Co. now owns 5,499,093 shares of the energy company's stock worth $144,681,000 after acquiring an additional 187,252 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have recently commented on the stock. Wall Street Zen lowered shares of Archrock from a "buy" rating to a "hold" rating in a research report on Sunday, March 8th. Weiss Ratings raised shares of Archrock from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, May 6th. Citigroup upped their price objective on shares of Archrock from $40.00 to $43.00 and gave the company a "buy" rating in a research report on Wednesday, May 13th. Royal Bank Of Canada upped their price objective on shares of Archrock from $32.00 to $40.00 and gave the company an "outperform" rating in a research report on Monday, March 16th. Finally, Wells Fargo & Company upped their price objective on shares of Archrock from $40.00 to $43.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $40.86.
Get Our Latest Stock Analysis on Archrock
Archrock Company Profile
(
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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