Y Intercept Hong Kong Ltd Buys 23,655 Shares of Archrock, Inc. $AROC

Y Intercept Hong Kong Ltd lifted its stake in Archrock, Inc. (NYSE:AROC) by 76.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,707 shares of the energy company’s stock after buying an additional 23,655 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Archrock were worth $1,439,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of AROC. First Citizens Bank & Trust Co. boosted its stake in Archrock by 183.8% in the second quarter. First Citizens Bank & Trust Co. now owns 28,545 shares of the energy company’s stock valued at $709,000 after acquiring an additional 18,488 shares during the last quarter. Sentry Investment Management LLC acquired a new position in shares of Archrock during the 2nd quarter worth about $319,000. Vanguard Personalized Indexing Management LLC grew 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 buying an additional 1,617 shares during the period. Hsbc Holdings PLC increased its stake in shares of Archrock by 55.1% in the 2nd quarter. Hsbc Holdings PLC now owns 121,089 shares of the energy company’s stock valued at $3,049,000 after acquiring an additional 43,023 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Archrock in the 2nd quarter valued at approximately $676,000. Institutional investors own 95.45% of the company’s stock.

Insider Activity at Archrock

In other news, SVP Eric W. Thode sold 40,740 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was 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 owned 184,216 shares in the company, valued at $4,623,821.60. This trade represents a 18.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AROC shares. Evercore ISI boosted their price target on shares of Archrock from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Royal Bank Of Canada boosted their target price on Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Zacks Research downgraded Archrock from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Archrock in a report on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Archrock presently has an average rating of “Moderate Buy” and an average target price of $32.40.

Archrock Stock Up 1.5%

AROC stock opened at $29.60 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.56 and a quick ratio of 1.01. The stock has a market capitalization of $5.19 billion, a P/E ratio of 19.73, a P/E/G ratio of 1.33 and a beta of 0.92. Archrock, Inc. has a fifty-two week low of $20.12 and a fifty-two week high of $30.19. The business has a 50-day moving average of $25.99 and a 200-day moving average of $24.91.

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

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 18th. Shareholders of record on Tuesday, February 10th will be given a dividend of $0.22 per share. This is a boost from Archrock’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $0.88 annualized dividend and a yield of 3.0%. Archrock’s payout ratio is presently 56.00%.

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.