Everstar Asset Management LLC Purchases 25,825 Shares of Archrock, Inc. $AROC

Everstar Asset Management LLC boosted its holdings in Archrock, Inc. (NYSE:AROC) by 123.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 46,825 shares of the energy company’s stock after purchasing an additional 25,825 shares during the quarter. Archrock makes up 0.9% of Everstar Asset Management LLC’s portfolio, making the stock its 24th largest position. Everstar Asset Management LLC’s holdings in Archrock were worth $1,630,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AROC. Royal Bank of Canada boosted its stake in shares of Archrock by 0.7% in the first quarter. Royal Bank of Canada now owns 95,866 shares of the energy company’s stock worth $2,514,000 after acquiring an additional 667 shares during the period. Jones Financial Companies Lllp raised its stake in Archrock by 217.9% during the 1st quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company’s stock valued at $35,000 after purchasing an additional 902 shares during the period. EverSource Wealth Advisors LLC raised its stake in Archrock by 482.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,699 shares of the energy company’s stock valued at $67,000 after purchasing an additional 2,236 shares during the period. First Trust Advisors LP lifted its holdings in Archrock by 24.6% in the 2nd quarter. First Trust Advisors LP now owns 279,100 shares of the energy company’s stock worth $6,930,000 after purchasing an additional 55,059 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in Archrock by 19.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 9,700 shares of the energy company’s stock worth $241,000 after purchasing an additional 1,600 shares in the last quarter. 95.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of Archrock from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Stifel Nicolaus set a $41.00 target price on shares of Archrock in a report on Thursday, May 7th. Wells Fargo & Company upped their target price 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. Zacks Research cut shares of Archrock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $46.00 target price on shares of Archrock in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $41.14.

Insider Activity at Archrock

In other news, SVP Jason Ingersoll sold 33,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was 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 directly owned 277,454 shares of the company’s stock, valued at $10,595,968.26. This trade represents a 10.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Doug S. Aron sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were 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 directly owned 359,337 shares of the company’s stock, valued at $13,762,607.10. The trade was a 8.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 327,550 shares of company stock worth $11,861,703 over the last three months. 2.90% of the stock is currently owned by insiders.

Archrock Price Performance

Archrock stock opened at $36.92 on Monday. Archrock, Inc. has a 52-week low of $21.17 and a 52-week high of $40.12. The company has a quick ratio of 0.91, a current ratio of 1.41 and a debt-to-equity ratio of 1.57. The firm’s fifty day moving average is $36.46 and its 200 day moving average is $32.58. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 1.58 and a beta of 0.87.

Archrock (NYSE:AROC) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $378.36 million. Archrock’s quarterly revenue was up 7.7% on a year-over-year basis. Sell-side analysts forecast that Archrock, Inc. will post 1.95 EPS for the current fiscal year.

Archrock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Tuesday, May 12th were given a $0.22 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $0.88 annualized dividend and a yield of 2.4%. 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.