Viking Fund Management LLC Has $5 Million Stake in Archrock, Inc. $AROC

Viking Fund Management LLC boosted its position in shares of Archrock, Inc. (NYSE:AROC) by 35.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 190,000 shares of the energy company’s stock after acquiring an additional 50,000 shares during the quarter. Viking Fund Management LLC owned 0.11% of Archrock worth $4,999,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased 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 purchasing an additional 902 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in Archrock in the 1st quarter valued at about $47,000. State of Wyoming acquired a new stake in Archrock in the 1st quarter valued at about $53,000. Motco bought a new position in Archrock during the second quarter worth about $57,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Archrock during the second quarter worth approximately $59,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Archrock Price Performance

Archrock stock opened at $25.37 on Friday. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.32 and a beta of 0.94. The company has a current ratio of 1.56, a quick ratio of 1.01 and a debt-to-equity ratio of 1.80. Archrock, Inc. has a 12 month low of $20.12 and a 12 month high of $30.44. The stock’s 50 day moving average is $24.70 and its 200-day moving average is $24.49.

Archrock (NYSE:AROC) last released its quarterly earnings results on Wednesday, October 29th. The energy company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. The business had revenue of $382.43 million during the quarter, compared to analysts’ expectations of $379.29 million. Archrock had a return on equity of 20.17% and a net margin of 18.43%.The firm’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same period last year, the firm posted $0.28 EPS. Equities research analysts expect that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Tuesday, November 4th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.3%. Archrock’s dividend payout ratio (DPR) is currently 56.00%.

Insider Transactions at Archrock

In other Archrock news, Director Jason C. Rebrook acquired 5,000 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was acquired at an average price of $23.94 per share, for a total transaction of $119,700.00. Following the purchase, the director directly owned 79,511 shares of the company’s stock, valued at $1,903,493.34. This trade represents a 6.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Eric W. Thode sold 40,740 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $25.10, for a total transaction of $1,022,574.00. Following the completion of the sale, the senior vice president directly owned 184,216 shares of the company’s stock, valued at $4,623,821.60. This represents a 18.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on AROC shares. Zacks Research lowered Archrock from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Evercore ISI boosted their target price on Archrock from $31.00 to $35.00 and gave the stock an “outperform” rating in a 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 note on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Archrock in a report on Wednesday, October 8th. Finally, Wells Fargo & Company began coverage on shares of Archrock in a research report on Wednesday, September 3rd. They set an “overweight” rating and a $30.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.40.

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.