276,944 Shares in Archrock, Inc. $AROC Purchased by Hawk Ridge Capital Management LP

Hawk Ridge Capital Management LP acquired a new position in shares of Archrock, Inc. (NYSE:AROC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 276,944 shares of the energy company’s stock, valued at approximately $9,638,000. Hawk Ridge Capital Management LP owned 0.16% of Archrock at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AROC. Sound Income Strategies LLC boosted its holdings in shares of Archrock by 71.0% in the fourth quarter. Sound Income Strategies LLC now owns 971 shares of the energy company’s stock worth $26,000 after buying an additional 403 shares during the period. Valued Wealth Advisors LLC acquired a new stake in shares of Archrock during the first quarter valued at approximately $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Archrock in the 4th quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Archrock in the 4th quarter valued at approximately $33,000. Finally, Jones Financial Companies Lllp boosted its stake in Archrock by 217.9% in 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 period. 95.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Jason Ingersoll sold 33,000 shares of Archrock 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 transaction, the senior vice president owned 277,454 shares in the company, valued at $10,595,968.26. This trade represents a 10.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Doug S. Aron sold 35,000 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $38.30, for a total transaction of $1,340,500.00. Following the transaction, the chief financial officer directly owned 359,337 shares of the company’s stock, valued at approximately $13,762,607.10. This represents a 8.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 158,000 shares of company stock valued at $5,907,370 over the last 90 days. 2.90% of the stock is owned by corporate insiders.

Archrock Stock Performance

Shares of NYSE AROC opened at $35.63 on Tuesday. The business’s 50-day simple moving average is $37.08 and its 200-day simple moving average is $34.90. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.91 and a current ratio of 1.41. Archrock, Inc. has a 52 week low of $21.17 and a 52 week high of $42.23. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of 19.37, a P/E/G ratio of 1.58 and a beta of 0.84.

Archrock (NYSE:AROC) last posted its 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 during 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 quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts expect that Archrock, Inc. will post 1.9 earnings per share for the current fiscal year.

Archrock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, August 4th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, August 4th. This is a positive change from Archrock’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.6%. Archrock’s dividend payout ratio is presently 50.00%.

Analyst Upgrades and Downgrades

AROC has been the subject of several recent analyst reports. Mizuho raised their target price on Archrock from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Weiss Ratings lowered Archrock from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, July 13th. Raymond James Financial reissued an “outperform” rating and issued a $46.00 price objective on shares of Archrock in a research note on Thursday, May 7th. Citigroup raised their price objective on Archrock from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, Stifel Nicolaus set a $41.00 target price on Archrock in a research note on Thursday, May 7th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Archrock currently has an average rating of “Moderate Buy” and a consensus target price 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.