Corient Private Wealth LLC Purchases Shares of 28,331 Archrock, Inc. $AROC

Corient Private Wealth LLC purchased a new position in shares of Archrock, Inc. (NYSE:AROC) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 28,331 shares of the energy company’s stock, valued at approximately $703,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. raised its holdings in shares of Archrock by 1.4% during the 2nd quarter. Invesco Ltd. now owns 9,080,037 shares of the energy company’s stock valued at $225,457,000 after buying an additional 128,141 shares in the last quarter. American Century Companies Inc. grew its position in Archrock by 9.2% during the second quarter. American Century Companies Inc. now owns 5,886,085 shares of the energy company’s stock valued at $146,152,000 after acquiring an additional 497,121 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Archrock by 1.0% during the second quarter. Geode Capital Management LLC now owns 4,063,469 shares of the energy company’s stock worth $100,909,000 after acquiring an additional 42,050 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Archrock by 17.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,292,302 shares of the energy company’s stock worth $60,150,000 after acquiring an additional 334,858 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Archrock by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,058,502 shares of the energy company’s stock worth $51,113,000 after acquiring an additional 20,048 shares during the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Archrock

In related news, SVP Eric W. Thode sold 40,740 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $25.10, for a total value 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 trade represents a 18.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.60% of the stock is currently owned by corporate insiders.

Archrock Price Performance

AROC stock opened at $25.73 on Friday. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.34 and a beta of 0.94. The firm’s 50-day moving average price is $24.86 and its two-hundred day moving average price is $24.49. The company has a current ratio of 1.56, a quick ratio of 1.01 and a debt-to-equity ratio of 1.80. Archrock, Inc. has a 12-month low of $20.12 and a 12-month high of $30.44.

Archrock (NYSE:AROC) last posted its earnings results on Wednesday, October 29th. The energy company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.01. The company had revenue of $382.43 million for the quarter, compared to analysts’ expectations of $379.29 million. Archrock had a return on equity of 20.17% and a net margin of 18.43%.Archrock’s quarterly revenue was up 30.9% on a year-over-year basis. During the same period last year, the firm earned $0.28 earnings per share. As a group, equities analysts predict that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Tuesday, November 4th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Tuesday, November 4th. Archrock’s dividend payout ratio is currently 56.00%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AROC shares. Royal Bank Of Canada increased their target price on shares of Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Evercore ISI upped their price target 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. Wells Fargo & Company initiated coverage on Archrock in a report on Wednesday, September 3rd. They issued an “overweight” rating and a $30.00 price objective on the stock. Zacks Research lowered Archrock from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Archrock in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.40.

Archrock 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.