Energy Income Partners LLC Sells 217,634 Shares of Archrock, Inc. $AROC

Energy Income Partners LLC reduced its stake in shares of Archrock, Inc. (NYSE:AROC) by 13.5% in the first quarter, Holdings Channel reports. The firm owned 1,393,885 shares of the energy company’s stock after selling 217,634 shares during the period. Energy Income Partners LLC’s holdings in Archrock were worth $48,507,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Invesco Ltd. increased its stake in Archrock by 5.5% in the 4th quarter. Invesco Ltd. now owns 8,719,020 shares of the energy company’s stock worth $226,869,000 after buying an additional 457,569 shares during the period. State Street Corp lifted its holdings in Archrock by 2.2% during the 4th quarter. State Street Corp now owns 7,018,889 shares of the energy company’s stock valued at $182,631,000 after buying an additional 152,312 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Archrock by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,833,290 shares of the energy company’s stock valued at $177,805,000 after buying an additional 111,218 shares during the period. Sei Investments Co. boosted its position in Archrock by 3.5% in the 3rd quarter. Sei Investments Co. now owns 5,499,093 shares of the energy company’s stock valued at $144,681,000 after buying an additional 187,252 shares during the period. Finally, Geode Capital Management LLC grew its stake in Archrock by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 4,163,783 shares of the energy company’s stock worth $108,359,000 after acquiring an additional 84,715 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Jason Ingersoll sold 33,000 shares of the business’s stock in a transaction on Monday, May 18th. The stock was 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. The trade was a 10.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Doug S. Aron sold 35,000 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $38.30, for a total value of $1,340,500.00. Following the completion of the transaction, the chief financial officer directly owned 359,337 shares of the company’s stock, valued at approximately $13,762,607.10. The trade was a 8.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 158,000 shares of company stock valued at $5,907,370. 2.90% of the stock is owned by company insiders.

Archrock Trading Down 1.4%

NYSE AROC opened at $35.63 on Tuesday. Archrock, Inc. has a one year low of $21.17 and a one year 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. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 1.58 and a beta of 0.84. The company’s 50-day simple moving average is $37.08 and its two-hundred day simple moving average is $34.90.

Archrock (NYSE:AROC) last announced its quarterly earnings results on Tuesday, May 5th. The energy company reported $0.42 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $378.36 million. The firm’s revenue was up 7.7% on a year-over-year basis. Equities analysts forecast that Archrock, Inc. will post 1.9 EPS for the current fiscal year.

Archrock Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, August 4th will be issued a dividend of $0.23 per share. This is an increase from Archrock’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Tuesday, August 4th. Archrock’s dividend payout ratio (DPR) is currently 50.00%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Weiss Ratings lowered shares of Archrock from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, July 13th. Mizuho boosted their price target on Archrock from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Zacks Research cut Archrock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Raymond James Financial restated an “outperform” rating and set a $46.00 price objective on shares of Archrock in a report on Thursday, May 7th. Finally, Citigroup lifted their target price on Archrock from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.71.

About Archrock

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.