Archrock, Inc. $AROC Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in shares of Archrock, Inc. (NYSE:AROC) by 0.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,065,388 shares of the energy company’s stock after selling 17,437 shares during the quarter. Bank of New York Mellon Corp’s holdings in Archrock were worth $71,875,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AROC. Sound Income Strategies LLC increased its holdings in Archrock by 71.0% in the fourth quarter. Sound Income Strategies LLC now owns 971 shares of the energy company’s stock valued at $26,000 after buying an additional 403 shares in the last quarter. Valued Wealth Advisors LLC acquired a new position in shares of Archrock in the first quarter worth about $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Archrock during the 4th quarter worth about $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Archrock during the 4th quarter worth about $33,000. Finally, Jones Financial Companies Lllp grew its position 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 valued at $35,000 after acquiring an additional 902 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

Insider Buying and Selling

In other Archrock news, CFO Doug S. Aron sold 90,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $36.74, for a total transaction of $3,306,600.00. Following the completion of the transaction, the chief financial officer owned 394,337 shares of the company’s stock, valued at $14,487,941.38. This represents a 18.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jason Ingersoll sold 33,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 277,454 shares in the company, valued at approximately $10,595,968.26. This trade represents a 10.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 158,000 shares of company stock valued at $5,907,370 in the last three months. Insiders own 2.90% of the company’s stock.

Archrock Stock Up 0.0%

Shares of NYSE AROC opened at $38.30 on Thursday. The firm has a market cap of $6.71 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 1.68 and a beta of 0.84. The company’s 50-day simple moving average is $37.14 and its 200-day simple moving average is $34.68. The company has a quick ratio of 0.91, a current ratio of 1.41 and a debt-to-equity ratio of 1.57. Archrock, Inc. has a 52-week low of $21.17 and a 52-week high of $42.23.

Archrock (NYSE:AROC) last released its quarterly earnings results on Tuesday, May 5th. The energy company reported $0.42 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 22.89% and a net margin of 21.45%.The business’s revenue was up 7.7% on a year-over-year basis. Equities analysts predict that Archrock, Inc. will post 1.9 EPS for the current fiscal year.

Archrock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 12th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, May 12th. Archrock’s payout ratio is 47.83%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Stifel Nicolaus set a $41.00 price target on Archrock in a research note on Thursday, May 7th. Wells Fargo & Company increased their price target on Archrock from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Citigroup raised their price objective on Archrock from $40.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Royal Bank Of Canada boosted their price objective on Archrock from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Zacks Research downgraded Archrock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.71.

Archrock 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.