Squarepoint Ops LLC Trims Stock Position in Archrock, Inc. $AROC

Squarepoint Ops LLC decreased its position in shares of Archrock, Inc. (NYSE:AROC) by 15.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 384,435 shares of the energy company’s stock after selling 71,542 shares during the quarter. Squarepoint Ops LLC’s holdings in Archrock were worth $9,546,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in AROC. Nuveen LLC acquired a new stake in shares of Archrock in the 1st quarter valued at about $43,092,000. Russell Investments Group Ltd. increased its position in Archrock by 256.8% during the first quarter. Russell Investments Group Ltd. now owns 68,571 shares of the energy company’s stock worth $1,799,000 after buying an additional 49,351 shares during the period. Neuberger Berman Group LLC purchased a new stake in Archrock in the first quarter valued at approximately $386,000. Fox Run Management L.L.C. purchased a new stake in Archrock in the first quarter valued at approximately $348,000. Finally, American Century Companies Inc. boosted its holdings in shares of Archrock by 9.4% in the first quarter. American Century Companies Inc. now owns 5,388,964 shares of the energy company’s stock valued at $141,406,000 after acquiring an additional 461,940 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AROC. Mizuho lifted their target price on shares of Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Zacks Research downgraded shares of Archrock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Wells Fargo & Company began coverage on shares of Archrock in a research note on Wednesday, September 3rd. They issued an “overweight” rating and a $30.00 price objective on the stock. Evercore ISI upped their target price on shares of Archrock from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, Royal Bank Of Canada increased their target price on shares of Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Archrock has an average rating of “Moderate Buy” and a consensus price target of $32.40.

Archrock Stock Performance

NYSE:AROC opened at $26.06 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.56 and a quick ratio of 1.01. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 1.36 and a beta of 0.94. The firm’s fifty day moving average price is $24.61 and its 200 day moving average price is $24.48. Archrock, Inc. has a 1-year low of $20.12 and a 1-year high of $30.44.

Archrock (NYSE:AROC) last released its earnings results on Wednesday, October 29th. The energy company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. The company had revenue of $382.43 million during the quarter, compared to analysts’ expectations of $379.29 million. Archrock had a net margin of 18.43% and a return on equity of 20.17%. The business’s revenue was up 30.9% on a year-over-year basis. During the same quarter last year, the business earned $0.28 EPS. On average, sell-side analysts expect that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Tuesday, November 4th were given a $0.21 dividend. The ex-dividend date was Tuesday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 3.2%. Archrock’s dividend payout ratio (DPR) is presently 56.00%.

Insider Buying and Selling

In other Archrock news, SVP Eric W. Thode sold 40,740 shares of Archrock stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $25.10, for a total value of $1,022,574.00. Following the sale, the senior vice president owned 184,216 shares of the company’s stock, valued at approximately $4,623,821.60. The trade was a 18.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jason C. Rebrook bought 5,000 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were acquired at an average price of $23.94 per share, for a total transaction of $119,700.00. Following the transaction, the director directly owned 79,511 shares in the company, valued at $1,903,493.34. This trade represents a 6.71% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.60% of the stock is currently owned by insiders.

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.