Maridea Wealth Management LLC Purchases New Stake in Archrock, Inc. $AROC

Maridea Wealth Management LLC acquired a new position in shares of Archrock, Inc. (NYSE:AROC) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 18,170 shares of the energy company’s stock, valued at approximately $632,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AROC. Royal Bank of Canada increased its stake in shares of Archrock by 0.7% in the 1st quarter. Royal Bank of Canada now owns 95,866 shares of the energy company’s stock worth $2,514,000 after acquiring an additional 667 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Archrock by 217.9% in the first quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company’s stock valued at $35,000 after purchasing an additional 902 shares during the period. EverSource Wealth Advisors LLC increased its position in Archrock by 482.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,699 shares of the energy company’s stock worth $67,000 after purchasing an additional 2,236 shares during the last quarter. First Trust Advisors LP raised its stake in Archrock by 24.6% during the second quarter. First Trust Advisors LP now owns 279,100 shares of the energy company’s stock worth $6,930,000 after purchasing an additional 55,059 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in Archrock by 19.8% during the second quarter. Daiwa Securities Group Inc. now owns 9,700 shares of the energy company’s stock worth $241,000 after purchasing an additional 1,600 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of Archrock from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Weiss Ratings raised Archrock from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 6th. Zacks Research lowered Archrock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Mizuho raised their price objective on Archrock from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Finally, Stifel Nicolaus set a $41.00 target price on shares of Archrock in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $41.14.

Insider Activity at Archrock

In other news, CFO Doug S. Aron sold 35,000 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $38.30, for a total transaction of $1,340,500.00. Following the sale, the chief financial officer owned 359,337 shares of the company’s stock, valued at approximately $13,762,607.10. This represents a 8.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jason Ingersoll sold 33,000 shares of Archrock stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $38.19, for a total value of $1,260,270.00. Following the completion of the transaction, the senior vice president owned 277,454 shares of the company’s stock, valued at $10,595,968.26. The trade was a 10.63% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 256,050 shares of company stock worth $9,315,588. 2.90% of the stock is owned by insiders.

Archrock Trading Up 1.2%

AROC opened at $41.91 on Friday. Archrock, Inc. has a 52 week low of $21.17 and a 52 week high of $42.23. The company has a quick ratio of 0.91, a current ratio of 1.41 and a debt-to-equity ratio of 1.57. The business has a fifty day simple moving average of $36.82 and a 200-day simple moving average of $33.06. The firm has a market cap of $7.35 billion, a P/E ratio of 22.78, a P/E/G ratio of 1.84 and a beta of 0.87.

Archrock (NYSE:AROC) last posted its earnings results on Tuesday, May 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.05). The firm had revenue of $373.77 million for the quarter, compared to analyst estimates of $378.36 million. Archrock had a return on equity of 22.89% and a net margin of 21.45%.Archrock’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities analysts expect that Archrock, Inc. will post 1.9 earnings per share for the current year.

Archrock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Tuesday, May 12th were issued a $0.22 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.1%. Archrock’s payout ratio is 47.83%.

About Archrock

Archrock, Inc is a Houston‐based provider of natural gas compression services and equipment to the oil and gas industry in North America. Founded in 2004, the company supplies both short‐term rentals and long‐term contracts for compression solutions, serving upstream and midstream producers. Archrock’s offerings include engineered compression systems, aftermarket parts, maintenance and field services designed to optimize wellhead and pipeline operations.

The company’s core business activities focus on the design, manufacture, rental and sale of gas compression equipment.