Fisher Asset Management LLC Sells 24,750 Shares of Archrock, Inc. $AROC

Fisher Asset Management LLC lessened its stake in Archrock, Inc. (NYSE:AROC) by 43.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,099 shares of the energy company’s stock after selling 24,750 shares during the quarter. Fisher Asset Management LLC’s holdings in Archrock were worth $835,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Mizuho lifted their price target on Archrock from $32.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, April 2nd. Zacks Research lowered Archrock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Weiss Ratings raised Archrock from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 6th. Wells Fargo & Company lifted their target price on Archrock from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada boosted their target price on Archrock from $32.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $40.86.

Archrock Stock Performance

Shares of AROC stock opened at $33.45 on Friday. Archrock, Inc. has a 52 week low of $21.17 and a 52 week high of $40.12. The company has a market capitalization of $5.86 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 1.43 and a beta of 0.94. The company has a 50-day simple moving average of $36.50 and a 200 day simple moving average of $31.32. 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 (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). The company had revenue of $373.77 million during the quarter, compared to the consensus estimate of $378.36 million. Archrock had a net margin of 21.45% and a return on equity of 22.89%. Archrock’s quarterly revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts predict that Archrock, Inc. will post 1.95 earnings per share for the current year.

Archrock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 12th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Tuesday, May 12th. Archrock’s dividend payout ratio is presently 47.83%.

Insider Buying and Selling

In other Archrock news, CFO Doug S. Aron sold 35,000 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $38.30, for a total transaction of $1,340,500.00. Following the sale, the chief financial officer directly owned 359,337 shares in the company, valued at $13,762,607.10. This represents a 8.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jason Ingersoll sold 33,000 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president directly owned 277,454 shares of the company’s stock, valued at approximately $10,595,968.26. The trade was a 10.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 337,963 shares of company stock valued at $12,244,277 over the last 90 days. 2.90% of the stock is owned by corporate insiders.

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.