Archrock, Inc. $AROC Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of Archrock, Inc. (NYSE:AROC) by 0.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,065,388 shares of the energy company’s stock after selling 17,437 shares during the period. Bank of New York Mellon Corp owned approximately 1.18% of Archrock worth $71,875,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Vaughan Nelson Investment Management L.P. acquired a new stake in Archrock in the 4th quarter worth approximately $61,144,000. Neuberger Berman Group LLC increased its stake in Archrock by 9,756.7% during the 4th quarter. Neuberger Berman Group LLC now owns 1,293,002 shares of the energy company’s stock valued at $33,644,000 after purchasing an additional 1,279,884 shares in the last quarter. Stephens Investment Management Group LLC acquired a new position in Archrock during the 4th quarter valued at approximately $32,904,000. Norges Bank acquired a new position in Archrock during the 4th quarter valued at approximately $18,721,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Archrock in the second quarter worth $16,027,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Insider Activity

In other Archrock news, CFO Doug S. Aron sold 35,000 shares of Archrock stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 359,337 shares in the company, valued at approximately $13,762,607.10. This trade represents a 8.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jason Ingersoll sold 33,000 shares of the business’s 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 directly owned 277,454 shares of the company’s stock, valued at approximately $10,595,968.26. This trade represents a 10.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 158,000 shares of company stock worth $5,907,370 over the last ninety days. 2.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Zacks Research lowered shares of Archrock from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Wells Fargo & Company raised their target price on Archrock from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Stifel Nicolaus set a $41.00 price target on Archrock in a research report on Thursday, May 7th. Citigroup boosted their price target on Archrock from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $46.00 price objective on shares of Archrock in a report on Thursday, May 7th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Archrock has an average rating of “Moderate Buy” and an average price target of $41.71.

Archrock Stock Performance

Shares of NYSE AROC opened at $38.30 on Thursday. The company has a 50 day simple moving average of $37.14 and a two-hundred day simple moving average of $34.68. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 1.68 and a beta of 0.84. The company has a current ratio of 1.41, a quick ratio of 0.91 and a debt-to-equity ratio of 1.57. Archrock, Inc. has a 12 month low of $21.17 and a 12 month high of $42.23.

Archrock (NYSE:AROC) last released its quarterly earnings data on Tuesday, May 5th. The energy company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.05). Archrock had a return on equity of 22.89% and a net margin of 21.45%.The business had revenue of $373.77 million during the quarter, compared to analyst estimates of $378.36 million. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, analysts predict that Archrock, Inc. will post 1.9 earnings per share for the current year.

Archrock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 12th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, May 12th. Archrock’s dividend payout ratio (DPR) is currently 47.83%.

Archrock Profile

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.