Victory Capital Management Inc. Lowers Stock Position in Archrock, Inc. $AROC

Victory Capital Management Inc. cut its stake in shares of Archrock, Inc. (NYSE:AROC) by 9.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,064,718 shares of the energy company’s stock after selling 111,919 shares during the quarter. Victory Capital Management Inc.’s holdings in Archrock were worth $28,013,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB raised its holdings in shares of Archrock by 164.5% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,082 shares of the energy company’s stock worth $28,000 after acquiring an additional 673 shares in the last quarter. Jones Financial Companies Lllp increased its stake 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 valued at $35,000 after buying an additional 902 shares during the period. Salomon & Ludwin LLC bought a new stake in shares of Archrock in the 3rd quarter valued at about $34,000. Farther Finance Advisors LLC boosted its stake in Archrock by 49.9% in the third quarter. Farther Finance Advisors LLC now owns 1,640 shares of the energy company’s stock valued at $43,000 after acquiring an additional 546 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Archrock by 482.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,699 shares of the energy company’s stock valued at $67,000 after purchasing an additional 2,236 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Analysts Set New Price Targets

AROC has been the subject of several research reports. Zacks Research upgraded shares of Archrock from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Wall Street Zen cut shares of Archrock from a “buy” rating to a “hold” rating in a research note on Sunday. Raymond James Financial reissued an “outperform” rating and issued a $40.00 price target on shares of Archrock in a research note on Wednesday, February 25th. Citigroup upped their price objective on shares of Archrock from $31.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Finally, Dawson James restated an “outperform” rating on shares of Archrock in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Archrock has a consensus rating of “Buy” and an average target price of $36.86.

Insiders Place Their Bets

In other news, CAO Donna A. Henderson sold 10,413 shares of Archrock stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $36.74, for a total transaction of $382,573.62. Following the completion of the sale, the chief accounting officer directly owned 27,757 shares of the company’s stock, valued at approximately $1,019,792.18. The trade was a 27.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is currently owned by company insiders.

Archrock Stock Performance

Archrock stock opened at $35.37 on Monday. The firm has a 50 day simple moving average of $30.06 and a 200-day simple moving average of $26.67. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 19.33, a price-to-earnings-growth ratio of 1.47 and a beta of 0.87. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.54 and a quick ratio of 0.99. Archrock, Inc. has a 1-year low of $20.12 and a 1-year high of $37.26.

Archrock (NYSE:AROC) last issued its quarterly earnings data on Tuesday, February 24th. The energy company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.29. The company had revenue of $377.07 million during the quarter, compared to analyst estimates of $378.04 million. Archrock had a return on equity of 23.57% and a net margin of 21.63%.The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 earnings per share. On average, analysts expect that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Tuesday, February 10th were paid a $0.22 dividend. The ex-dividend date was Tuesday, February 10th. This is an increase from Archrock’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 2.5%. Archrock’s payout ratio is 48.09%.

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.