Archrock, Inc. (NYSE:AROC) SVP Jason Ingersoll Sells 42,036 Shares

Archrock, Inc. (NYSE:AROC) SVP Jason Ingersoll sold 42,036 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $24.49, for a total value of $1,029,461.64. Following the sale, the senior vice president now owns 275,911 shares in the company, valued at approximately $6,757,060.39. This represents a 13.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Archrock Stock Up 3.2%

NYSE:AROC traded up $0.79 during trading hours on Monday, reaching $25.49. The company’s stock had a trading volume of 1,168,604 shares, compared to its average volume of 1,466,778. The company has a market capitalization of $4.47 billion, a P/E ratio of 27.97, a price-to-earnings-growth ratio of 1.60 and a beta of 1.19. Archrock, Inc. has a 12 month low of $17.27 and a 12 month high of $30.44. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. The stock has a 50 day moving average price of $24.36 and a two-hundred day moving average price of $25.27.

Archrock (NYSE:AROC) last issued its quarterly earnings data on Monday, May 5th. The energy company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. The company had revenue of $347.16 million during the quarter, compared to the consensus estimate of $342.98 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. Equities analysts predict that Archrock, Inc. will post 1.09 EPS for the current fiscal year.

Archrock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Tuesday, May 6th. Archrock’s payout ratio is presently 64.41%.

Archrock declared that its Board of Directors has initiated a share repurchase program on Monday, May 5th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the energy company to repurchase up to 1.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AROC. Citigroup raised their price target on Archrock from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Sidoti raised Archrock to a “hold” rating in a report on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Archrock currently has a consensus rating of “Moderate Buy” and an average target price of $26.67.

Hedge Funds Weigh In On Archrock

Large investors have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in shares of Archrock during the fourth quarter valued at $36,241,000. Invesco Ltd. grew its holdings in shares of Archrock by 12.8% during the fourth quarter. Invesco Ltd. now owns 8,883,949 shares of the energy company’s stock valued at $221,121,000 after buying an additional 1,008,438 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in shares of Archrock during the fourth quarter valued at $17,247,000. Millennium Management LLC grew its holdings in shares of Archrock by 186.0% during the fourth quarter. Millennium Management LLC now owns 1,047,346 shares of the energy company’s stock valued at $26,068,000 after buying an additional 681,160 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Archrock by 135.1% during the fourth quarter. JPMorgan Chase & Co. now owns 993,063 shares of the energy company’s stock valued at $24,717,000 after buying an additional 570,680 shares during the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

About Archrock

Archrock, Inc, together with its subsidiaries, operates as an energy infrastructure company in the United States. The company operates in two segments, Contract Operations and Aftermarket Services. It engages in the designing, sourcing, owning, installing, operating, servicing, repairing, and maintaining of its owned fleet of natural gas compression equipment to provide natural gas compression services.