Edgestream Partners L.P. Sells 40,158 Shares of Archrock, Inc. $AROC

Edgestream Partners L.P. decreased its stake in Archrock, Inc. (NYSE:AROC) by 28.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 100,460 shares of the energy company’s stock after selling 40,158 shares during the quarter. Edgestream Partners L.P.’s holdings in Archrock were worth $3,496,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of AROC. Neuberger Berman Group LLC raised its holdings in Archrock by 9,756.7% during the 4th quarter. Neuberger Berman Group LLC now owns 1,293,002 shares of the energy company’s stock valued at $33,644,000 after buying an additional 1,279,884 shares during the period. Stephens Investment Management Group LLC purchased a new position in Archrock during the fourth quarter worth $32,904,000. Norges Bank bought a new position in Archrock during the fourth quarter valued at $18,721,000. Balyasny Asset Management L.P. bought a new position in Archrock during the second quarter valued at $16,027,000. Finally, Millennium Management LLC increased its position in Archrock by 43.8% during the third quarter. Millennium Management LLC now owns 2,009,230 shares of the energy company’s stock valued at $52,863,000 after acquiring an additional 611,773 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.

Archrock Stock Performance

Shares of Archrock stock opened at $35.73 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.41 and a debt-to-equity ratio of 1.57. The stock’s fifty day moving average is $36.92 and its two-hundred day moving average is $35.10. Archrock, Inc. has a 52 week low of $21.17 and a 52 week high of $42.23. The company has a market capitalization of $6.26 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 1.57 and a beta of 0.84.

Archrock (NYSE:AROC) last released 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). Archrock had a return on equity of 22.89% and a net margin of 21.45%.The business had revenue of $373.77 million for the quarter, compared to the consensus estimate of $378.36 million. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts expect that Archrock, Inc. will post 1.9 earnings per share for the current year.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, August 4th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $0.92 annualized dividend and a yield of 2.6%. This is a boost from Archrock’s previous quarterly dividend of $0.22. Archrock’s payout ratio is 47.83%.

Analyst Ratings Changes

Several research firms have recently issued reports on AROC. Zacks Research lowered shares of Archrock from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Raymond James Financial reaffirmed an “outperform” rating and set a $46.00 price target on shares of Archrock in a research note on Thursday, May 7th. Weiss Ratings upgraded shares of Archrock from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday. Citigroup increased their price objective on shares of Archrock from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, Royal Bank Of Canada raised their price objective on shares of Archrock from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $41.71.

Insider Activity

In other Archrock news, SVP Jason Ingersoll sold 33,000 shares of the business’s stock in a transaction dated 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 sale, the senior vice president directly owned 277,454 shares of the company’s stock, valued at $10,595,968.26. The trade was a 10.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Doug S. Aron sold 90,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $14,487,941.38. This represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 158,000 shares of company stock worth $5,907,370 in the last ninety days. 2.90% of the stock is currently owned by insiders.

About Archrock

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.