Legal & General Group Plc Lowers Stock Position in Archrock, Inc. $AROC

Legal & General Group Plc lessened its holdings in Archrock, Inc. (NYSE:AROC) by 4.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 461,897 shares of the energy company’s stock after selling 23,664 shares during the period. Legal & General Group Plc’s holdings in Archrock were worth $12,019,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Sound Income Strategies LLC lifted its position in shares of Archrock by 71.0% in the 4th quarter. Sound Income Strategies LLC now owns 971 shares of the energy company’s stock worth $26,000 after purchasing an additional 403 shares during the period. Ameriflex Group Inc. purchased a new stake in shares of Archrock in the 3rd quarter worth approximately $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Archrock during the 4th quarter worth approximately $33,000. Jones Financial Companies Lllp raised 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 acquiring an additional 902 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of Archrock by 234.9% during the 4th quarter. Covestor Ltd now owns 1,410 shares of the energy company’s stock worth $37,000 after acquiring an additional 989 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Wall Street Analysts Forecast Growth

AROC has been the subject of several recent analyst reports. Mizuho boosted their price objective on shares of Archrock from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wall Street Zen lowered shares of Archrock from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Citigroup boosted their price objective on shares of Archrock from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Stifel Nicolaus set a $41.00 price objective on shares of Archrock in a research note on Thursday, May 7th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $46.00 price objective on shares of Archrock in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Archrock presently has an average rating of “Buy” and an average price target of $41.14.

Archrock Trading Up 0.1%

Shares of Archrock stock opened at $34.24 on Thursday. The company has a current ratio of 1.41, a quick ratio of 0.91 and a debt-to-equity ratio of 1.57. Archrock, Inc. has a 12-month low of $21.17 and a 12-month high of $40.12. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 1.46 and a beta of 0.87. The firm’s 50 day simple moving average is $36.36 and its two-hundred day simple moving average is $31.57.

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

Archrock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 12th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, May 12th. Archrock’s dividend payout ratio is 47.83%.

Insider Buying and Selling at Archrock

In other news, SVP Jason Ingersoll sold 33,000 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $38.19, for a total value of $1,260,270.00. Following the sale, the senior vice president directly owned 277,454 shares of the company’s stock, valued at $10,595,968.26. This represents a 10.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Doug S. Aron sold 35,000 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $38.30, for a total transaction of $1,340,500.00. Following the completion of the sale, the chief financial officer directly owned 359,337 shares in the company, valued at $13,762,607.10. This trade represents a 8.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 327,550 shares of company stock worth $11,861,703 over the last ninety days. Insiders own 2.90% of the company’s stock.

Archrock Company Profile

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.