Wellington Management Group LLP Decreases Stake in Archrock, Inc. $AROC

Wellington Management Group LLP lessened its position in shares of Archrock, Inc. (NYSE:AROC) by 93.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 35,197 shares of the energy company’s stock after selling 474,692 shares during the period. Wellington Management Group LLP’s holdings in Archrock were worth $1,433,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC acquired a new stake in shares of Archrock in the 1st quarter valued at $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Archrock during the 4th quarter worth $27,000. Jones Financial Companies Lllp grew 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 worth $35,000 after purchasing an additional 902 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Archrock during the first quarter worth $36,000. Finally, Covestor Ltd increased its holdings in Archrock by 234.9% in the fourth quarter. Covestor Ltd now owns 1,410 shares of the energy company’s stock valued at $37,000 after buying an additional 989 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Archrock Stock Performance

NYSE AROC opened at $32.74 on Friday. The firm has a market cap of $5.74 billion, a P/E ratio of 17.60, a P/E/G ratio of 1.56 and a beta of 0.86. Archrock, Inc. has a 52-week low of $22.88 and a 52-week high of $42.23. The business’s 50-day moving average price is $34.57 and its 200 day moving average price is $35.77. The company has a quick ratio of 0.94, a current ratio of 1.39 and a debt-to-equity ratio of 1.51.

Archrock (NYSE:AROC) last posted its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.07). Archrock had a net margin of 21.84% and a return on equity of 22.22%. The company had revenue of $371.24 million for the quarter, compared to analysts’ expectations of $393.19 million. During the same period in the prior year, the company earned $0.39 earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis. On average, equities research analysts expect that Archrock, Inc. will post 1.73 earnings per share for the current year.

Archrock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, August 4th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This is an increase from Archrock’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.8%. Archrock’s dividend payout ratio is presently 49.46%.

Wall Street Analyst Weigh In

AROC has been the topic of a number of analyst reports. Mizuho raised their price target on Archrock from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Weiss Ratings cut Archrock from a “buy (a-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Evercore set a $40.00 price objective on Archrock in a report on Monday, August 17th. Wells Fargo & Company cut their target price on Archrock from $43.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, August 6th. Finally, Zacks Research cut Archrock from a “hold” rating to a “strong sell” rating in a research note on Monday, August 31st. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.29.

Archrock Profile

Archrock, Inc (NYSE: AROC) is a Houston-based energy infrastructure company that provides natural gas compression services in the United States. Compression is used to increase the pressure of natural gas so it can be gathered, processed, transported, stored and delivered through pipeline systems. Archrock serves customers across major U.S. natural gas production and pipeline regions.

The company primarily operates through contract compression services, supplying compression equipment and related field services under customer agreements.