Bailard Inc. lowered its holdings in shares of Archrock Inc (NYSE:AROC) by 31.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 66,300 shares of the energy company’s stock after selling 30,000 shares during the period. Bailard Inc.’s holdings in Archrock were worth $796,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. Arizona State Retirement System grew its holdings in shares of Archrock by 68.2% during the 2nd quarter. Arizona State Retirement System now owns 188,176 shares of the energy company’s stock valued at $2,258,000 after purchasing an additional 76,277 shares during the last quarter. SG Americas Securities LLC bought a new stake in Archrock in the 2nd quarter worth $523,000. Tortoise Index Solutions LLC grew its holdings in Archrock by 108.4% in the 2nd quarter. Tortoise Index Solutions LLC now owns 68,390 shares of the energy company’s stock worth $821,000 after acquiring an additional 35,568 shares during the last quarter. Catalyst Capital Advisors LLC grew its holdings in Archrock by 2.5% in the 2nd quarter. Catalyst Capital Advisors LLC now owns 561,986 shares of the energy company’s stock worth $6,744,000 after acquiring an additional 13,587 shares during the last quarter. Finally, Strs Ohio grew its holdings in Archrock by 9.8% in the 2nd quarter. Strs Ohio now owns 76,100 shares of the energy company’s stock worth $913,000 after acquiring an additional 6,800 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.
AROC has been the topic of a number of recent analyst reports. Piper Jaffray Companies reissued a “buy” rating and issued a $14.75 price target on shares of Archrock in a report on Tuesday, August 7th. JPMorgan Chase & Co. lowered shares of Archrock from an “overweight” rating to a “neutral” rating and set a $13.00 price target on the stock. in a report on Tuesday, May 1st. Zacks Investment Research raised shares of Archrock from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Tuesday, June 26th. FBR & Co raised their price target on shares of Archrock from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, May 9th. Finally, B. Riley raised shares of Archrock from a “neutral” rating to a “buy” rating and raised their price target for the stock from $12.00 to $14.00 in a report on Wednesday, May 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. Archrock has a consensus rating of “Hold” and a consensus price target of $14.54.
Shares of Archrock stock opened at $12.00 on Monday. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -60.00 and a beta of 2.92. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.86 and a current ratio of 1.35. Archrock Inc has a 12-month low of $8.25 and a 12-month high of $13.75.
Archrock (NYSE:AROC) last announced its earnings results on Thursday, August 2nd. The energy company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $226.87 million for the quarter, compared to analyst estimates of $216.63 million. Archrock had a net margin of 4.19% and a return on equity of 0.45%. research analysts expect that Archrock Inc will post 0.3 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 14th. Stockholders of record on Tuesday, August 7th were paid a dividend of $0.132 per share. This is a positive change from Archrock’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Monday, August 6th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 4.40%. Archrock’s payout ratio is presently -265.00%.
In other news, insider Jason Ingersoll sold 12,969 shares of Archrock stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $11.64, for a total transaction of $150,959.16. Following the sale, the insider now owns 73,331 shares of the company’s stock, valued at approximately $853,572.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Edward Rice sold 67,554 shares of Archrock stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $11.70, for a total transaction of $790,381.80. Following the sale, the insider now directly owns 255,451 shares in the company, valued at approximately $2,988,776.70. The disclosure for this sale can be found here. Insiders own 2.54% of the company’s stock.
Archrock Company Profile
Archrock, Inc engages in the natural gas contract operations services business in the United States. The company provides natural gas compression services to customers in the oil and natural gas industry. It also offers aftermarket services, such as parts and components; and operation, maintenance, overhaul, and reconfiguration services to customers who own compression equipment.
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