Dimensional Fund Advisors LP Sells 1,308,460 Shares of Archrock, Inc. $AROC

Dimensional Fund Advisors LP cut its holdings in Archrock, Inc. (NYSE:AROC) by 19.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,524,830 shares of the energy company’s stock after selling 1,308,460 shares during the quarter. Dimensional Fund Advisors LP owned about 3.15% of Archrock worth $192,262,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in AROC. Allspring Global Investments Holdings LLC grew its holdings in Archrock by 11.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 23,505 shares of the energy company’s stock valued at $802,000 after purchasing an additional 2,497 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Archrock by 1,817.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 7,670 shares of the energy company’s stock worth $267,000 after acquiring an additional 7,270 shares during the period. Calamos Advisors LLC acquired a new position in Archrock during the 1st quarter worth $1,015,000. Principal Financial Group Inc. boosted its stake in Archrock by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 857,373 shares of the energy company’s stock valued at $29,837,000 after purchasing an additional 18,904 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Archrock by 2.6% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 43,752 shares of the energy company’s stock worth $1,522,000 after buying an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Raymond James Financial restated an “outperform” rating and issued a $46.00 price objective on shares of Archrock in a research note on Thursday, May 7th. Royal Bank Of Canada upped their price target on Archrock from $41.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday. Mizuho lifted their price objective on Archrock from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. Stifel Nicolaus set a $41.00 price objective on Archrock in a research report on Thursday, May 7th. Finally, Zacks Research lowered Archrock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Archrock has a consensus rating of “Moderate Buy” and an average target price of $41.71.

Archrock Trading Down 5.8%

Shares of AROC opened at $36.17 on Friday. The stock has a fifty day moving average price of $37.14 and a two-hundred day moving average price of $34.77. The company has a market cap of $6.34 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 1.68 and a beta of 0.84. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.91 and a current ratio of 1.41. Archrock, Inc. has a 52-week low of $21.17 and a 52-week high of $42.23.

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 company had revenue of $373.77 million for the quarter, compared to the consensus estimate of $378.36 million. Archrock’s quarterly revenue was up 7.7% on a year-over-year basis. Analysts predict that Archrock, Inc. will post 1.9 EPS for the current fiscal year.

Archrock Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, August 4th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.5%. This is a boost from Archrock’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, August 4th. Archrock’s payout ratio is currently 47.83%.

Insider Activity

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