Archrock (NYSE:AROC) Announces Quarterly Earnings Results
by Renee Jackson · The Cerbat GemArchrock (NYSE:AROC – Get Free Report) released its quarterly earnings data on Tuesday. The energy company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.05), Zacks reports. Archrock had a return on equity of 23.57% and a net margin of 21.63%.
Archrock Price Performance
Archrock stock traded up $0.96 during trading hours on Tuesday, hitting $39.83. The stock had a trading volume of 1,514,451 shares, compared to its average volume of 1,594,676. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.54 and a quick ratio of 0.99. The stock has a market capitalization of $6.98 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 1.66 and a beta of 0.94. Archrock has a 1-year low of $21.17 and a 1-year high of $40.12. The stock’s fifty day moving average is $35.81 and its two-hundred day moving average is $29.73.
Archrock Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 12th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $0.88 annualized dividend and a yield of 2.2%. Archrock’s dividend payout ratio is 48.09%.
Insider Buying and Selling at Archrock
In other Archrock news, CAO Donna A. Henderson sold 10,413 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $36.74, for a total value of $382,573.62. Following the sale, the chief accounting officer owned 27,757 shares of the company’s stock, valued at approximately $1,019,792.18. This represents a 27.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Doug S. Aron sold 98,050 shares of the company’s stock in a transaction on Monday, March 30th. The shares were sold at an average price of $34.76, for a total value of $3,408,218.00. Following the completion of the sale, the chief financial officer directly owned 484,337 shares in the company, valued at $16,835,554.12. This trade represents a 16.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 179,963 shares of company stock worth $6,336,907 in the last three months. 2.90% of the stock is owned by corporate insiders.
Institutional Trading of Archrock
Large investors have recently made changes to their positions in the stock. Daiwa Securities Group Inc. boosted its stake in shares of Archrock by 19.8% during the second quarter. Daiwa Securities Group Inc. now owns 9,700 shares of the energy company’s stock valued at $241,000 after acquiring an additional 1,600 shares during the last quarter. Vident Advisory LLC boosted its stake in shares of Archrock by 11.9% during the fourth quarter. Vident Advisory LLC now owns 9,206 shares of the energy company’s stock valued at $240,000 after acquiring an additional 980 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of Archrock by 19.3% during the second quarter. Osaic Holdings Inc. now owns 9,293 shares of the energy company’s stock valued at $231,000 after acquiring an additional 1,503 shares during the last quarter. Ieq Capital LLC acquired a new stake in shares of Archrock during the fourth quarter valued at $221,000. Finally, Brooklyn Investment Group boosted its stake in shares of Archrock by 799.8% during the third quarter. Brooklyn Investment Group now owns 8,332 shares of the energy company’s stock valued at $219,000 after acquiring an additional 7,406 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have issued reports on AROC. Wall Street Zen cut Archrock from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Mizuho increased their price objective on Archrock from $32.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, April 2nd. Wells Fargo & Company increased their price objective on Archrock from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. Zacks Research cut Archrock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 16th. Finally, Citigroup increased their price objective on Archrock from $31.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Archrock has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.
Read Our Latest Analysis on Archrock
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.