Archrock, Inc. $AROC Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp increased its stake in Archrock, Inc. (NYSE:AROC) by 81.7% in the first quarter, HoldingsChannel.com reports. The firm owned 115,380 shares of the energy company’s stock after acquiring an additional 51,884 shares during the quarter. Fifth Third Bancorp’s holdings in Archrock were worth $4,015,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Nations Financial Group Inc. IA ADV boosted its holdings in Archrock by 1.7% during the first quarter. Nations Financial Group Inc. IA ADV now owns 18,744 shares of the energy company’s stock worth $652,000 after buying an additional 311 shares in the last quarter. Financial Security Advisor Inc. increased its holdings in Archrock by 3.0% in the fourth quarter. Financial Security Advisor Inc. now owns 12,000 shares of the energy company’s stock valued at $312,000 after buying an additional 344 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of Archrock by 3.7% during the 4th quarter. Crossmark Global Holdings Inc. now owns 10,290 shares of the energy company’s stock valued at $268,000 after acquiring an additional 366 shares during the period. Severin Investments LLC lifted its position in shares of Archrock by 2.0% during the 4th quarter. Severin Investments LLC now owns 20,111 shares of the energy company’s stock valued at $523,000 after acquiring an additional 400 shares during the period. Finally, Sound Income Strategies LLC lifted its position in shares of Archrock by 71.0% during the 4th quarter. Sound Income Strategies LLC now owns 971 shares of the energy company’s stock valued at $26,000 after acquiring an additional 403 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Zacks Research cut Archrock from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Wells Fargo & Company lifted their price objective on Archrock from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Stifel Nicolaus set a $41.00 target price on Archrock in a research report on Thursday, May 7th. Citigroup upped their target price on Archrock from $40.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Finally, Mizuho raised their price target on Archrock from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Archrock has a consensus rating of “Moderate Buy” and an average target price of $41.14.

Archrock Trading Up 0.4%

Shares of Archrock stock opened at $37.10 on Friday. Archrock, Inc. has a 1 year low of $21.17 and a 1 year high of $42.23. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.41 and a quick ratio of 0.91. The business has a 50 day moving average price of $37.09 and a 200 day moving average price of $34.37. The company has a market capitalization of $6.50 billion, a P/E ratio of 20.16, a P/E/G ratio of 1.63 and a beta of 0.84.

Archrock (NYSE:AROC) last released its quarterly earnings results on Tuesday, May 5th. The energy company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.05). Archrock had a return on equity of 22.89% and a net margin of 21.45%.The company had revenue of $373.77 million for the quarter, compared to analysts’ expectations of $378.36 million. Archrock’s revenue for the quarter was up 7.7% compared to the same quarter last year. Sell-side analysts anticipate that Archrock, Inc. will post 1.9 EPS for the current fiscal year.

Archrock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Tuesday, May 12th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.88 annualized dividend and a yield of 2.4%. Archrock’s payout ratio is presently 47.83%.

Insider Transactions at Archrock

In other Archrock news, CFO Doug S. Aron sold 90,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $36.74, for a total transaction of $3,306,600.00. Following the sale, the chief financial officer directly owned 394,337 shares of the company’s stock, valued at $14,487,941.38. This trade represents a 18.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jason Ingersoll sold 33,000 shares of Archrock stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $38.19, for a total transaction of $1,260,270.00. Following the sale, the senior vice president owned 277,454 shares of the company’s stock, valued at approximately $10,595,968.26. This trade represents a 10.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 158,000 shares of company stock worth $5,907,370. 2.90% of the stock is owned by insiders.

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.