Allianz Asset Management GmbH Cuts Stake in Archrock, Inc. $AROC

Allianz Asset Management GmbH trimmed its position in shares of Archrock, Inc. (NYSE:AROC) by 19.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 221,119 shares of the energy company’s stock after selling 53,185 shares during the quarter. Allianz Asset Management GmbH’s holdings in Archrock were worth $5,490,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Farther Finance Advisors LLC lifted its stake in shares of Archrock by 164.8% in the first quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company’s stock worth $26,000 after buying an additional 600 shares in the last quarter. Jones Financial Companies Lllp raised its holdings 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 acquiring an additional 902 shares during the last quarter. TCTC Holdings LLC raised its holdings in Archrock by 119.6% in the 1st quarter. TCTC Holdings LLC now owns 1,599 shares of the energy company’s stock worth $42,000 after acquiring an additional 871 shares during the last quarter. Bayforest Capital Ltd bought a new position in Archrock in the 1st quarter valued at approximately $47,000. Finally, State of Wyoming purchased a new stake in Archrock during the 1st quarter valued at $53,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Archrock Trading Up 2.2%

Shares of NYSE:AROC opened at $25.20 on Thursday. The stock’s 50-day simple moving average is $24.74 and its two-hundred day simple moving average is $24.31. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 1.27 and a beta of 1.07. Archrock, Inc. has a 52-week low of $19.73 and a 52-week high of $30.44. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.30 and a current ratio of 1.81.

Archrock (NYSE:AROC) last issued its quarterly earnings data on Monday, August 4th. The energy company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. The firm had revenue of $383.15 million for the quarter, compared to analysts’ expectations of $366.34 million. Archrock had a net margin of 17.17% and a return on equity of 18.74%. The business’s quarterly revenue was up 41.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 EPS. Analysts expect that Archrock, Inc. will post 1.09 EPS for the current year.

Insider Buying and Selling at Archrock

In related news, SVP Eric W. Thode sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $23.54, for a total value of $235,400.00. Following the transaction, the senior vice president directly owned 224,809 shares of the company’s stock, valued at approximately $5,292,003.86. This trade represents a 4.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jason C. Rebrook bought 10,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were bought at an average price of $24.17 per share, for a total transaction of $241,700.00. Following the completion of the transaction, the director directly owned 74,511 shares of the company’s stock, valued at $1,800,930.87. This represents a 15.50% increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AROC shares. Zacks Research upgraded Archrock from a “hold” rating to a “strong-buy” rating in a research note on Monday. Mizuho boosted their target price on Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Evercore ISI dropped their price target on shares of Archrock from $32.00 to $31.00 and set an “outperform” rating on the stock in a report on Wednesday, August 6th. Wells Fargo & Company started coverage on shares of Archrock in a research note on Wednesday, September 3rd. They issued an “overweight” rating and a $30.00 price target for the company. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Archrock in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $30.00.

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.