Archrock (NYSE:AROC) Posts Earnings Results, Misses Estimates By $0.05 EPS

Archrock (NYSE:AROC) announced its earnings results on Tuesday. The energy company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.05), Zacks reports. The business had revenue of $373.77 million for 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 23.19%. The business’s revenue was up 7.7% compared to the same quarter last year.

Archrock Stock Down 3.3%

AROC traded down $1.28 during trading on Thursday, reaching $37.82. The stock had a trading volume of 847,491 shares, compared to its average volume of 1,601,813. The stock’s 50 day moving average is $36.08 and its two-hundred day moving average is $29.95. The company has a current ratio of 1.54, a quick ratio of 0.99 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $6.63 billion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 1.69 and a beta of 0.94. Archrock has a one year low of $21.17 and a one year high of $40.12.

Archrock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 12th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, May 12th. This represents a $0.88 dividend on an annualized basis and a yield of 2.3%. Archrock’s dividend payout ratio is 48.09%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Raymond James Financial restated an “outperform” rating and set a $46.00 target price on shares of Archrock in a report on Thursday. Mizuho increased their price objective on Archrock from $32.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, April 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Archrock in a report on Wednesday, January 21st. Wells Fargo & Company increased their price objective on Archrock from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Zacks Research downgraded Archrock from a “strong-buy” rating to a “hold” rating in a report 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.43.

Insider Buying and Selling at Archrock

In other news, CFO Doug S. Aron sold 98,050 shares of the firm’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $34.76, for a total transaction of $3,408,218.00. Following the completion of the transaction, the chief financial officer directly owned 484,337 shares in the company, valued at $16,835,554.12. This trade represents a 16.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Donna A. Henderson sold 10,413 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $36.74, for a total value of $382,573.62. Following the transaction, the chief accounting officer owned 27,757 shares of the company’s stock, valued at $1,019,792.18. The trade was a 27.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 179,963 shares of company stock valued at $6,336,907 over the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Archrock

Several institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. increased its holdings in shares of Archrock by 5.5% during the fourth quarter. Invesco Ltd. now owns 8,719,020 shares of the energy company’s stock valued at $226,869,000 after acquiring an additional 457,569 shares in the last quarter. Corient Private Wealth LLC increased its holdings in shares of Archrock by 246.2% during the fourth quarter. Corient Private Wealth LLC now owns 104,716 shares of the energy company’s stock valued at $2,725,000 after acquiring an additional 74,471 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Archrock by 20.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 18,519 shares of the energy company’s stock valued at $482,000 after acquiring an additional 3,122 shares in the last quarter. Vident Advisory LLC increased its holdings in shares of Archrock by 11.9% during the fourth quarter. Vident Advisory LLC now owns 9,206 shares of the energy company’s stock valued at $240,000 after acquiring an additional 980 shares in the last quarter. Finally, First Citizens Bank & Trust Co. increased its holdings in shares of Archrock by 5.2% during the fourth quarter. First Citizens Bank & Trust Co. now owns 26,990 shares of the energy company’s stock valued at $702,000 after acquiring an additional 1,343 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors.

About Archrock

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.