Everstar Asset Management LLC Makes New Investment in Archrock, Inc. $AROC

Everstar Asset Management LLC purchased a new position in shares of Archrock, Inc. (NYSE:AROC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 21,000 shares of the energy company’s stock, valued at approximately $546,000.

Several other hedge funds also recently modified their holdings of AROC. Royal Bank of Canada boosted its stake in shares of Archrock by 0.7% during the 1st quarter. Royal Bank of Canada now owns 95,866 shares of the energy company’s stock worth $2,514,000 after purchasing an additional 667 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Archrock by 217.9% during the 1st quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company’s stock worth $35,000 after purchasing an additional 902 shares during the last quarter. EverSource Wealth Advisors LLC boosted 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 boosted its stake in shares of Archrock by 24.6% during the 2nd quarter. First Trust Advisors LP now owns 279,100 shares of the energy company’s stock worth $6,930,000 after purchasing an additional 55,059 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Archrock by 19.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 9,700 shares of the energy company’s stock worth $241,000 after purchasing an additional 1,600 shares during the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Archrock news, CAO Donna A. Henderson sold 10,413 shares of Archrock stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $36.74, for a total transaction of $382,573.62. Following the transaction, the chief accounting officer directly 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Doug S. Aron sold 98,050 shares of the business’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 transaction, the chief financial officer directly owned 484,337 shares in the company, valued at approximately $16,835,554.12. The trade was a 16.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 179,963 shares of company stock worth $6,336,907. 2.90% of the stock is currently owned by corporate insiders.

Archrock Price Performance

AROC opened at $37.41 on Friday. The company’s 50 day simple moving average is $36.29 and its 200 day simple moving average is $30.52. 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, Inc. has a 1 year low of $21.17 and a 1 year high of $40.12. The stock has a market capitalization of $6.56 billion, a PE ratio of 20.33, a P/E/G ratio of 1.59 and a beta of 0.94.

Archrock (NYSE:AROC) last released its earnings results on Tuesday, May 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.05). Archrock had a return on equity of 22.89% and a net margin of 21.45%.The company had revenue of $373.77 million during the quarter, compared to analyst estimates of $378.36 million. Archrock’s revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts expect that Archrock, Inc. will post 1.95 EPS for the current year.

Archrock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 12th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, May 12th. Archrock’s payout ratio is 47.83%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AROC. Weiss Ratings raised shares of Archrock from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 6th. Dawson James reaffirmed an “outperform” rating on shares of Archrock in a research note on Wednesday, February 25th. Zacks Research cut shares of Archrock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Wall Street Zen cut shares of Archrock from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Citigroup raised their target price on shares of Archrock from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $40.86.

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.