Edgestream Partners L.P. Sells 40,158 Shares of Archrock, Inc. $AROC

Edgestream Partners L.P. lowered its holdings in shares of Archrock, Inc. (NYSE:AROC) by 28.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,460 shares of the energy company’s stock after selling 40,158 shares during the quarter. Edgestream Partners L.P. owned approximately 0.06% of Archrock worth $3,496,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sound Income Strategies LLC lifted its holdings in Archrock by 71.0% in the 4th quarter. Sound Income Strategies LLC now owns 971 shares of the energy company’s stock worth $26,000 after purchasing an additional 403 shares in the last quarter. Valued Wealth Advisors LLC purchased a new stake in Archrock during the 1st quarter valued at approximately $26,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Archrock during the fourth quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Archrock during the fourth quarter valued at approximately $33,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Archrock by 217.9% in the first quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company’s stock worth $35,000 after buying an additional 902 shares in the last quarter. Institutional investors own 95.45% of the company’s stock.

Wall Street Analysts Forecast Growth

AROC has been the subject of a number of research reports. Citigroup upped 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. Weiss Ratings upgraded shares of Archrock from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday. Stifel Nicolaus set a $41.00 price target on shares of Archrock in a research note on Thursday, May 7th. Wells Fargo & Company increased their price objective on shares of Archrock from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Raymond James Financial reissued an “outperform” rating and set a $46.00 price objective on shares of Archrock in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $41.71.

Insider Buying and Selling at Archrock

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

Archrock Stock Up 0.9%

Shares of AROC opened at $35.73 on Friday. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 1.57 and a beta of 0.84. Archrock, Inc. has a 1 year low of $21.17 and a 1 year high of $42.23. The business’s 50 day simple moving average is $36.92 and its 200-day simple moving average is $35.10. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.41 and a quick ratio of 0.91.

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

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, August 4th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, August 4th. This is a positive change 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%. Archrock’s payout ratio is currently 47.83%.

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.