Vestmark Advisory Solutions Inc. Takes Position in Archrock, Inc. $AROC

Vestmark Advisory Solutions Inc. bought a new position in shares of Archrock, Inc. (NYSE:AROC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 9,209 shares of the energy company’s stock, valued at approximately $229,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its position in shares of Archrock by 217.9% during the first quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company’s stock worth $35,000 after acquiring an additional 902 shares during the last quarter. TCTC Holdings LLC lifted its position in shares of Archrock by 119.6% during the 1st quarter. TCTC Holdings LLC now owns 1,599 shares of the energy company’s stock valued at $42,000 after acquiring an additional 871 shares during the period. Bayforest Capital Ltd bought a new position in shares of Archrock during the 1st quarter worth about $47,000. State of Wyoming acquired a new stake in shares of Archrock in the 1st quarter valued at about $53,000. Finally, Motco acquired a new position in Archrock during the 2nd quarter worth approximately $57,000. 95.45% of the stock is owned by institutional investors.

Archrock Price Performance

Archrock stock opened at $24.03 on Thursday. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.29 and a beta of 1.11. The company has a quick ratio of 1.30, a current ratio of 1.81 and a debt-to-equity ratio of 1.86. The business has a 50-day simple moving average of $24.92 and a 200 day simple moving average of $24.54. Archrock, Inc. has a 52 week low of $20.12 and a 52 week high of $30.44.

Archrock (NYSE:AROC) last released its quarterly earnings results on Tuesday, October 28th. The energy company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of $382.43 million for the quarter, compared to the consensus estimate of $379.29 million. Archrock had a return on equity of 20.40% and a net margin of 18.43%.The company’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same quarter last year, the business posted $0.28 earnings per share. On average, research analysts forecast that Archrock, Inc. will post 1.09 earnings per share for the current fiscal year.

Archrock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Tuesday, November 4th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, November 4th. Archrock’s payout ratio is currently 56.00%.

Insider Activity

In other Archrock news, SVP Eric W. Thode sold 40,740 shares of Archrock stock in a transaction dated 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 transaction, the senior vice president directly owned 184,216 shares of the company’s stock, valued at approximately $4,623,821.60. The trade was a 18.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jason C. Rebrook purchased 5,000 shares of Archrock stock in a transaction that occurred on Monday, September 22nd. The shares were purchased at an average cost of $23.94 per share, with a total value of $119,700.00. Following the transaction, the director directly owned 79,511 shares of the company’s stock, valued at $1,903,493.34. This represents a 6.71% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wells Fargo & Company initiated coverage on shares of Archrock in a research note on Wednesday, September 3rd. They set an “overweight” rating and a $30.00 price target for the company. Weiss Ratings restated a “buy (b)” rating on shares of Archrock in a report on Wednesday, October 8th. Evercore ISI lifted their target price on Archrock from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Royal Bank Of Canada increased their price target on Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Finally, Zacks Research raised shares of Archrock from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Archrock currently has an average rating of “Buy” and a consensus price target of $31.50.

About Archrock

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.