Oppenheimer Asset Management Inc. Lowers Holdings in Archrock, Inc. $AROC

Oppenheimer Asset Management Inc. trimmed its holdings in shares of Archrock, Inc. (NYSE:AROC) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,630 shares of the energy company’s stock after selling 627 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Archrock were worth $1,009,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp grew its holdings in Archrock by 217.9% during the 1st quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company’s stock valued at $35,000 after buying an additional 902 shares in the last quarter. TCTC Holdings LLC raised its position in shares of Archrock by 119.6% in the 1st quarter. TCTC Holdings LLC now owns 1,599 shares of the energy company’s stock valued at $42,000 after purchasing an additional 871 shares during the last quarter. Bayforest Capital Ltd acquired a new position in shares of Archrock in the first quarter valued at about $47,000. State of Wyoming acquired a new stake in shares of Archrock during the 1st quarter worth approximately $53,000. Finally, Quarry LP purchased a new position in shares of Archrock in the first quarter valued at approximately $65,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Insider Transactions at Archrock

In related news, SVP Eric W. Thode sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $23.54, for a total transaction of $235,400.00. Following the completion of the transaction, the senior vice president owned 224,809 shares of the company’s stock, valued at approximately $5,292,003.86. The trade was a 4.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jason C. Rebrook purchased 5,000 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were purchased at an average price of $23.94 per share, for a total transaction of $119,700.00. Following the completion of the purchase, the director directly owned 79,511 shares of the company’s stock, valued at approximately $1,903,493.34. This trade represents a 6.71% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Evercore ISI raised their price objective on Archrock from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday. Zacks Research upgraded Archrock from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Royal Bank Of Canada increased their price objective on Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday. Mizuho lifted their price objective on Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Archrock in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $31.50.

Archrock Trading Down 0.5%

Shares of NYSE AROC opened at $25.28 on Friday. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 1.29 and a beta of 1.07. Archrock, Inc. has a 12-month low of $19.73 and a 12-month high of $30.44. The company has a current ratio of 1.81, a quick ratio of 1.30 and a debt-to-equity ratio of 1.86. The stock’s 50 day simple moving average is $24.88 and its 200 day simple moving average is $24.47.

Archrock (NYSE:AROC) last posted its earnings results on Tuesday, October 28th. The energy company reported $0.42 EPS for the quarter, beating 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 firm had revenue of $382.43 million for the quarter, compared to analysts’ expectations of $379.29 million. During the same period last year, the firm earned $0.28 EPS. The firm’s revenue was up 30.9% compared to the same quarter last year. Equities research analysts expect that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Tuesday, November 4th will be paid a $0.21 dividend. The ex-dividend date is Tuesday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 3.3%. Archrock’s payout ratio is 56.00%.

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.