Thrivent Financial for Lutherans Sells 108,019 Shares of Archrock, Inc. $AROC

Thrivent Financial for Lutherans decreased its position in Archrock, Inc. (NYSE:AROC) by 23.3% during the second quarter, HoldingsChannel reports. The firm owned 355,018 shares of the energy company’s stock after selling 108,019 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Archrock were worth $8,815,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of AROC. Jump Financial LLC acquired a new position in Archrock during the 1st quarter worth $5,757,000. First Citizens Bank & Trust Co. increased its stake in shares of Archrock by 183.8% in the second quarter. First Citizens Bank & Trust Co. now owns 28,545 shares of the energy company’s stock worth $709,000 after purchasing an additional 18,488 shares during the period. Sentry Investment Management LLC bought a new position in shares of Archrock in the second quarter worth about $319,000. Vanguard Personalized Indexing Management LLC lifted its position in shares of Archrock by 8.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 20,574 shares of the energy company’s stock worth $511,000 after purchasing an additional 1,617 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in Archrock during the 1st quarter valued at approximately $12,359,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Archrock Stock Performance

Shares of NYSE AROC opened at $25.41 on Thursday. Archrock, Inc. has a one year low of $20.12 and a one year high of $30.44. The company has a current ratio of 1.56, a quick ratio of 1.01 and a debt-to-equity ratio of 1.80. The business has a fifty day simple moving average of $24.66 and a 200 day simple moving average of $24.49. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.31 and a beta of 0.94.

Archrock (NYSE:AROC) last announced its quarterly earnings results on Wednesday, October 29th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. Archrock had a net margin of 18.43% and a return on equity of 20.17%. The firm had revenue of $382.43 million for the quarter, compared to analyst estimates of $379.29 million. During the same quarter in the previous year, the firm posted $0.28 EPS. The business’s revenue for the quarter was up 30.9% on a year-over-year basis. Sell-side analysts expect that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Tuesday, November 4th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, November 4th. Archrock’s dividend payout ratio is 56.00%.

Insider Transactions at Archrock

In related news, Director Jason C. Rebrook acquired 5,000 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were bought at an average cost of $23.94 per share, with a total value of $119,700.00. Following the completion of the acquisition, the director owned 79,511 shares of the company’s stock, valued at $1,903,493.34. This trade represents a 6.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Eric W. Thode sold 40,740 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $25.10, for a total value of $1,022,574.00. Following the completion of the sale, the senior vice president owned 184,216 shares in the company, valued at approximately $4,623,821.60. This represents a 18.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Archrock in a research report on Wednesday, October 8th. Royal Bank Of Canada boosted their target price on shares of Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Evercore ISI upped their target price on shares of Archrock from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Wells Fargo & Company started coverage on shares of Archrock in a report on Wednesday, September 3rd. They issued an “overweight” rating and a $30.00 price target for the company. Finally, Zacks Research lowered shares of Archrock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.40.

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.