Voya Investment Management LLC Sells 8,056 Shares of Archrock, Inc. $AROC

Voya Investment Management LLC cut its stake in Archrock, Inc. (NYSE:AROC) by 13.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,715 shares of the energy company’s stock after selling 8,056 shares during the period. Voya Investment Management LLC’s holdings in Archrock were worth $1,357,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vident Advisory LLC lifted its holdings in Archrock by 4.9% during the 1st quarter. Vident Advisory LLC now owns 9,032 shares of the energy company’s stock valued at $237,000 after purchasing an additional 420 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in shares of Archrock by 1.4% during the 1st quarter. Chicago Partners Investment Group LLC now owns 38,161 shares of the energy company’s stock worth $1,001,000 after buying an additional 521 shares during the period. Janney Montgomery Scott LLC grew its holdings in Archrock by 4.7% during the first quarter. Janney Montgomery Scott LLC now owns 12,761 shares of the energy company’s stock valued at $335,000 after purchasing an additional 574 shares during the period. Ballentine Partners LLC grew its holdings in Archrock by 6.0% during the first quarter. Ballentine Partners LLC now owns 10,133 shares of the energy company’s stock valued at $266,000 after purchasing an additional 575 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in Archrock by 164.8% in the first quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company’s stock valued at $26,000 after buying an additional 600 shares in the last quarter. 95.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wells Fargo & Company initiated coverage on shares of Archrock in a research report on Wednesday, September 3rd. They issued an “overweight” rating and a $30.00 price objective on the stock. Mizuho upped their price target on shares of Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. Finally, Evercore ISI cut their price objective on shares of Archrock from $32.00 to $31.00 and set an “outperform” rating for the company in a research report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Insiders Place Their Bets

In other Archrock news, Director Jason C. Rebrook bought 10,000 shares of the stock in a transaction dated Thursday, September 18th. The shares were bought at an average cost of $24.17 per share, for a total transaction of $241,700.00. Following the purchase, the director directly owned 74,511 shares of the company’s stock, valued at approximately $1,800,930.87. This trade represents a 15.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Archrock Stock Performance

Shares of AROC stock opened at $24.47 on Tuesday. The company has a market cap of $4.30 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 1.24 and a beta of 1.14. Archrock, Inc. has a 52 week low of $19.73 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 firm has a 50 day moving average of $23.90 and a 200-day moving average of $24.37.

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

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were paid a dividend of $0.21 per share. This is a boost from Archrock’s previous quarterly dividend of $0.19. The ex-dividend date was Tuesday, August 5th. This represents a $0.84 annualized dividend and a yield of 3.4%. Archrock’s dividend payout ratio (DPR) is 63.64%.

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.