Hsbc Holdings PLC Decreases Stock Position in Archrock, Inc. $AROC

Hsbc Holdings PLC cut its holdings in Archrock, Inc. (NYSE:AROC) by 54.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 58,194 shares of the energy company’s stock after selling 69,277 shares during the period. Hsbc Holdings PLC’s holdings in Archrock were worth $2,035,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Summit Securities Group LLC purchased a new position in shares of Archrock in the first quarter worth $36,000. Valued Wealth Advisors LLC bought a new stake in Archrock in the 1st quarter worth about $26,000. Abel Hall LLC bought a new stake in Archrock in the 1st quarter worth about $308,000. Marietta Investment Partners LLC raised its position in Archrock by 58.2% in the 1st quarter. Marietta Investment Partners LLC now owns 97,928 shares of the energy company’s stock worth $3,408,000 after buying an additional 36,028 shares during the last quarter. Finally, Stephens Inc. AR raised its position in Archrock by 5.5% in the 1st quarter. Stephens Inc. AR now owns 20,611 shares of the energy company’s stock worth $717,000 after buying an additional 1,079 shares during the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Archrock Trading Up 0.1%

Shares of NYSE:AROC opened at $36.17 on Monday. The stock’s 50-day simple moving average is $37.14 and its two-hundred day simple moving average is $34.83. The stock has a market capitalization of $6.34 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 1.58 and a beta of 0.84. Archrock, Inc. has a 52-week low of $21.17 and a 52-week high of $42.23. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.91 and a current ratio of 1.41.

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

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, August 4th will be given a $0.23 dividend. The ex-dividend date is Tuesday, August 4th. This is a boost from Archrock’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 2.5%. Archrock’s payout ratio is 47.83%.

Wall Street Analysts Forecast Growth

AROC has been the topic of a number of recent analyst reports. Mizuho raised their price target on shares of Archrock from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Stifel Nicolaus set a $41.00 price objective on shares of Archrock in a report on Thursday, May 7th. Zacks Research downgraded shares of Archrock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 16th. Raymond James Financial restated an “outperform” rating and issued a $46.00 target price on shares of Archrock in a report on Thursday, May 7th. Finally, Citigroup lifted their target price on shares of Archrock from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.71.

Insider Activity at Archrock

In other news, SVP Jason Ingersoll sold 33,000 shares of Archrock stock in a transaction on Monday, May 18th. The shares were sold at an average price of $38.19, for a total transaction of $1,260,270.00. Following the transaction, the senior vice president owned 277,454 shares in the company, valued at $10,595,968.26. This trade represents a 10.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Doug S. Aron sold 90,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $36.74, for a total transaction of $3,306,600.00. Following the sale, the chief financial officer directly owned 394,337 shares of the company’s stock, valued at approximately $14,487,941.38. The trade was a 18.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 158,000 shares of company stock worth $5,907,370 over the last quarter. Insiders own 2.90% of the company’s stock.

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.