Kayne Anderson Capital Advisors LP Sells 1,085,870 Shares of Archrock, Inc. $AROC

Kayne Anderson Capital Advisors LP decreased its stake in shares of Archrock, Inc. (NYSE:AROC) by 65.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 561,352 shares of the energy company’s stock after selling 1,085,870 shares during the quarter. Archrock comprises approximately 0.3% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 23rd largest holding. Kayne Anderson Capital Advisors LP owned about 0.32% of Archrock worth $13,938,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky grew its stake in Archrock by 34.4% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 55,528 shares of the energy company’s stock worth $1,457,000 after buying an additional 14,200 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Archrock by 53.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 27,402 shares of the energy company’s stock worth $725,000 after buying an additional 9,594 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Archrock in the first quarter worth about $5,757,000. First Citizens Bank & Trust Co. raised its holdings in Archrock by 183.8% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 28,545 shares of the energy company’s stock worth $709,000 after purchasing an additional 18,488 shares during the period. Finally, Harvest Fund Management Co. Ltd raised its holdings in Archrock by 378.2% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 59,775 shares of the energy company’s stock worth $1,568,000 after purchasing an additional 47,275 shares during the period. 95.45% of the stock is currently owned by institutional investors.

Archrock Price Performance

Shares of NYSE:AROC opened at $24.99 on Thursday. The business has a fifty day simple moving average of $24.94 and a 200-day simple moving average of $24.50. Archrock, Inc. has a 52 week low of $20.12 and a 52 week high of $30.44. The company has a quick ratio of 1.30, a current ratio of 1.81 and a debt-to-equity ratio of 1.86. The company has a market cap of $4.38 billion, a P/E ratio of 16.66, a P/E/G ratio of 1.29 and a beta of 1.07.

Archrock (NYSE:AROC) last released its quarterly earnings results on Tuesday, October 28th. The energy company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. Archrock had a return on equity of 20.40% and a net margin of 18.43%.The business had revenue of $382.43 million for the quarter, compared to analysts’ expectations of $379.29 million. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The company’s revenue was up 30.9% compared to the same quarter last year. Equities research analysts forecast that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Tuesday, November 4th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, November 4th. Archrock’s dividend payout ratio (DPR) is presently 56.00%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company started coverage on Archrock in a research report on Wednesday, September 3rd. They issued an “overweight” rating and a $30.00 price target for the company. Zacks Research upgraded Archrock from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Evercore ISI boosted their target price on Archrock from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Archrock in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada upped their price objective on Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $31.50.

Insider Buying and Selling at Archrock

In related news, Director Jason C. Rebrook bought 5,000 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were bought at an average cost of $23.94 per share, for a total transaction of $119,700.00. Following the completion of the acquisition, the director directly owned 79,511 shares in the company, valued at approximately $1,903,493.34. This represents a 6.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Eric W. Thode sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $23.54, for a total value of $235,400.00. Following the transaction, the senior vice president owned 224,809 shares in the company, valued at approximately $5,292,003.86. This trade represents a 4.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.60% of the company’s stock.

Archrock Company Profile

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.