Archrock, Inc. $AROC Shares Sold by Thrivent Financial for Lutherans

by · The Markets Daily

Thrivent Financial for Lutherans decreased its holdings in shares of Archrock, Inc. (NYSE:AROC – Free Report) by 23.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 355,018 shares of the energy company’s stock after selling 108,019 shares during the period. Thrivent Financial for Lutherans owned approximately 0.20% of Archrock worth $8,815,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its position in shares of Archrock by 256.8% in the 1st quarter. Russell Investments Group Ltd. now owns 68,571 shares of the energy company’s stock valued at $1,799,000 after purchasing an additional 49,351 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Archrock in the first quarter worth about $348,000. Wellington Management Group LLP purchased a new position in shares of Archrock in the first quarter worth approximately $12,359,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Archrock in the first quarter worth approximately $71,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Archrock during the first quarter valued at approximately $356,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AROC. Wells Fargo & Company began coverage on shares of Archrock in a research note on Wednesday, September 3rd. They issued an “overweight” rating and a $30.00 price objective for the company. Royal Bank Of Canada raised their target price on Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Evercore ISI upped their price target on Archrock from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Weiss Ratings restated a “buy (b)” rating on shares of Archrock in a research report on Wednesday, October 8th. Finally, Zacks Research cut Archrock from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Archrock currently has a consensus rating of “Moderate Buy” and an average price target of $32.40.

Get Our Latest Stock Analysis on Archrock

Insider Buying and Selling at Archrock

In other news, SVP Eric W. Thode sold 40,740 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $25.10, for a total transaction of $1,022,574.00. Following the transaction, the senior vice president owned 184,216 shares in the company, valued at approximately $4,623,821.60. This trade represents a 18.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jason C. Rebrook acquired 5,000 shares of Archrock stock in a transaction that occurred on Monday, September 22nd. The stock was acquired at an average cost of $23.94 per share, with a total value of $119,700.00. Following the purchase, the director owned 79,511 shares in the company, valued at $1,903,493.34. The trade was a 6.71% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.60% of the company’s stock.

Archrock Stock Performance

Shares of AROC stock opened at $25.41 on Thursday. Archrock, Inc. has a fifty-two week low of $20.12 and a fifty-two week high of $30.44. The stock’s 50-day moving average is $24.66 and its two-hundred day moving average is $24.49. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.56 and a quick ratio of 1.01. The firm has a market cap of $4.46 billion, a P/E ratio of 16.94, a PEG ratio of 1.31 and a beta of 0.94.

Archrock (NYSE:AROC – Get Free Report) last announced its quarterly earnings results on Wednesday, October 29th. 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 20.17% and a net margin of 18.43%.The business had revenue of $382.43 million during the quarter, compared to analysts’ expectations of $379.29 million. During the same quarter in the previous year, the business posted $0.28 EPS. The firm’s quarterly revenue was up 30.9% compared to the same quarter last year. Analysts predict that Archrock, Inc. will post 1.09 earnings per share for the current fiscal year.

Archrock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Tuesday, November 4th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, November 4th. Archrock’s payout ratio is currently 56.00%.

Archrock Profile

(Free Report)

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.

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