Archrock, Inc. (NYSE:AROC) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its position in Archrock, Inc. (NYSE:AROC) by 5.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,302,436 shares of the energy company’s stock after selling 1,269,364 shares during the period. Vanguard Group Inc. owned 11.58% of Archrock worth $532,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Archrock by 34.4% in the first 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 acquiring an additional 14,200 shares during the last quarter. KBC Group NV lifted its position in Archrock by 13.2% during the first quarter. KBC Group NV now owns 8,030 shares of the energy company’s stock worth $211,000 after buying an additional 937 shares in the last quarter. GAMMA Investing LLC lifted its position in Archrock by 26.7% during the first quarter. GAMMA Investing LLC now owns 9,098 shares of the energy company’s stock worth $239,000 after buying an additional 1,917 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Archrock by 53.9% during 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 in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Archrock during the first quarter worth approximately $522,000. 95.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Archrock news, SVP Eric W. Thode sold 10,000 shares of Archrock 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 sale, the senior vice president owned 224,809 shares in the company, valued at $5,292,003.86. The trade was a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by corporate insiders.

Archrock Stock Performance

Shares of Archrock stock opened at $23.93 on Friday. Archrock, Inc. has a one year low of $18.38 and a one year high of $30.44. The company has a market cap of $4.21 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 1.24 and a beta of 1.10. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.30 and a current ratio of 1.81. The business’s 50 day moving average price is $23.97 and its 200 day moving average price is $24.92.

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

Archrock announced that its board has approved a share buyback plan on Monday, May 5th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the energy company to buy up to 1.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were given a $0.21 dividend. This is an increase from Archrock’s previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Tuesday, August 5th. Archrock’s dividend payout ratio (DPR) is presently 63.64%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Evercore ISI reduced their price objective on Archrock from $32.00 to $31.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 6th. Sidoti upgraded Archrock to a “hold” rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Archrock has an average rating of “Moderate Buy” and an average price target of $28.40.

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.