Thrivent Financial for Lutherans Sells 205,116 Shares of Archrock, Inc. $AROC

Thrivent Financial for Lutherans lowered its stake in shares of Archrock, Inc. (NYSE:AROC) by 57.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 149,902 shares of the energy company’s stock after selling 205,116 shares during the period. Thrivent Financial for Lutherans’ holdings in Archrock were worth $3,943,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AROC. Balyasny Asset Management L.P. purchased a new stake in shares of Archrock in the 2nd quarter valued at about $16,027,000. Franklin Resources Inc. grew its holdings in shares of Archrock by 78.7% during the 2nd quarter. Franklin Resources Inc. now owns 1,237,956 shares of the energy company’s stock valued at $30,738,000 after purchasing an additional 545,336 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Archrock by 9.2% in the second quarter. American Century Companies Inc. now owns 5,886,085 shares of the energy company’s stock worth $146,152,000 after buying an additional 497,121 shares during the period. Cubist Systematic Strategies LLC increased its stake in Archrock by 256.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 498,418 shares of the energy company’s stock worth $12,376,000 after purchasing an additional 358,658 shares during the period. Finally, Qube Research & Technologies Ltd increased its stake in shares of Archrock by 87.0% in the second quarter. Qube Research & Technologies Ltd now owns 603,351 shares of the energy company’s stock worth $14,981,000 after buying an additional 280,745 shares during the period. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Insider Buying and Selling at Archrock

In other Archrock news, SVP Eric W. Thode sold 40,740 shares of Archrock stock in a transaction that occurred on Monday, November 10th. The shares were 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 approximately $4,623,821.60. The trade was a 18.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is owned by insiders.

Archrock Stock Performance

Shares of AROC stock opened at $32.07 on Friday. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 1.37 and a beta of 0.93. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.01 and a current ratio of 1.56. Archrock, Inc. has a one year low of $20.12 and a one year high of $32.42. The company’s 50-day moving average is $26.63 and its 200 day moving average is $25.17.

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 18th. Stockholders of record on Tuesday, February 10th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This is a positive change from Archrock’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 2.7%. Archrock’s dividend payout ratio is presently 56.00%.

Wall Street Analyst Weigh In

A number of research analysts have commented on AROC shares. Zacks Research raised Archrock from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Archrock in a report on Wednesday, January 21st. Royal Bank Of Canada raised their price target on Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Finally, Evercore boosted their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $32.40.

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.