Hsbc Holdings PLC Boosts Position in Archrock, Inc. $AROC

Hsbc Holdings PLC lifted its position in Archrock, Inc. (NYSE:AROC) by 40.7% in the 4th quarter, Holdings Channel reports. The fund owned 127,471 shares of the energy company’s stock after acquiring an additional 36,847 shares during the quarter. Hsbc Holdings PLC’s holdings in Archrock were worth $3,309,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AROC. Rockefeller Capital Management L.P. raised its stake in Archrock by 100.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 8,052 shares of the energy company’s stock valued at $210,000 after buying an additional 4,026 shares during the last quarter. Corient Private Wealth LLC lifted its position in Archrock by 247.4% in the 4th quarter. Corient Private Wealth LLC now owns 105,063 shares of the energy company’s stock valued at $2,734,000 after acquiring an additional 74,818 shares in the last quarter. Invesco Ltd. boosted its stake in Archrock by 5.5% during the 4th quarter. Invesco Ltd. now owns 8,719,020 shares of the energy company’s stock valued at $226,869,000 after purchasing an additional 457,569 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Archrock by 20.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 18,519 shares of the energy company’s stock valued at $482,000 after purchasing an additional 3,122 shares during the last quarter. Finally, Vident Advisory LLC increased its holdings in shares of Archrock by 11.9% in the 4th quarter. Vident Advisory LLC now owns 9,206 shares of the energy company’s stock worth $240,000 after purchasing an additional 980 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors.

Archrock Stock Performance

Shares of NYSE AROC opened at $38.56 on Friday. The stock has a market cap of $6.76 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 1.69 and a beta of 0.84. Archrock, Inc. has a 1 year low of $21.17 and a 1 year high of $42.23. The firm has a fifty day moving average price of $37.18 and a 200-day moving average price of $33.96. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.41 and a quick ratio of 0.91.

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

Archrock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Tuesday, May 12th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, May 12th. Archrock’s dividend payout ratio (DPR) is 47.83%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AROC. Wells Fargo & Company boosted their price target on Archrock from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Citigroup boosted their target price on Archrock from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Mizuho upped their target price on shares of Archrock from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Raymond James Financial reaffirmed an “outperform” rating and set a $46.00 price target on shares of Archrock in a report on Thursday, May 7th. Finally, Stifel Nicolaus set a $41.00 price target on shares of Archrock in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Archrock has a consensus rating of “Buy” and a consensus price target of $41.14.

Insider Buying and Selling

In related news, SVP Jason Ingersoll sold 33,000 shares of the business’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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Doug S. Aron sold 90,000 shares of the stock in a transaction that occurred on 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 approximately $14,487,941.38. This trade represents a 18.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, 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.