Maryland State Retirement & Pension System Raises Stock Position in Archrock, Inc. $AROC

Maryland State Retirement & Pension System raised its position in Archrock, Inc. (NYSE:AROC) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,961 shares of the energy company’s stock after acquiring an additional 887 shares during the period. Maryland State Retirement & Pension System’s holdings in Archrock were worth $1,290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. KLP Kapitalforvaltning AS increased its position in shares of Archrock by 28.0% during the second quarter. KLP Kapitalforvaltning AS now owns 41,600 shares of the energy company’s stock worth $1,033,000 after purchasing an additional 9,100 shares in the last quarter. CHURCHILL MANAGEMENT Corp grew its stake in Archrock by 3.5% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 475,581 shares of the energy company’s stock worth $11,809,000 after buying an additional 16,280 shares during the last quarter. XML Financial LLC purchased a new position in Archrock during the 2nd quarter worth $202,000. State of Alaska Department of Revenue boosted its holdings in Archrock by 8.5% in the second quarter. State of Alaska Department of Revenue now owns 105,291 shares of the energy company’s stock worth $2,614,000 after acquiring an additional 8,240 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in Archrock in the second quarter worth about $746,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Archrock

In related news, SVP Eric W. Thode sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $23.54, for a total value of $235,400.00. Following the completion of the transaction, the senior vice president directly owned 224,809 shares in the company, valued at $5,292,003.86. The trade was a 4.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jason C. Rebrook bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was purchased at an average price of $23.94 per share, with a total value of $119,700.00. Following the completion of the purchase, the director owned 79,511 shares in the company, valued at approximately $1,903,493.34. This trade represents a 6.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.60% of the company’s stock.

Archrock Trading Down 4.5%

NYSE AROC opened at $23.88 on Friday. The company has a market capitalization of $4.20 billion, a PE ratio of 18.09, a P/E/G ratio of 1.23 and a beta of 1.07. The company has a fifty day moving average of $24.54 and a 200 day moving average of $24.36. Archrock, Inc. has a 1 year low of $19.73 and a 1 year high of $30.44. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.81 and a quick ratio of 1.30.

Archrock (NYSE:AROC) last released its quarterly earnings data on Monday, August 4th. The energy company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $383.15 million during the quarter, compared to analyst estimates of $366.34 million. Archrock had a return on equity of 18.74% and a net margin of 17.17%.The company’s revenue was up 41.6% on a year-over-year basis. During the same quarter last year, the business posted $0.23 EPS. Research analysts forecast that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were given a $0.21 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $0.84 annualized dividend and a yield of 3.5%. This is a boost from Archrock’s previous quarterly dividend of $0.19. Archrock’s payout ratio is currently 63.64%.

Analyst Upgrades and Downgrades

AROC has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Archrock in a research report on Wednesday. Wells Fargo & Company assumed coverage on shares of Archrock in a research note on Wednesday, September 3rd. They set an “overweight” rating and a $30.00 price target on the stock. Mizuho upped their price target on shares of Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. Finally, Evercore ISI dropped their price objective on shares of Archrock from $32.00 to $31.00 and set an “outperform” rating on the stock in a report on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Archrock Company Profile

Archrock, Inc, together with its subsidiaries, operates as an energy infrastructure company in the United States. The company operates in two segments, Contract Operations and Aftermarket Services. It engages in the designing, sourcing, owning, installing, operating, servicing, repairing, and maintaining of its owned fleet of natural gas compression equipment to provide natural gas compression services.