Archrock, Inc. (NYSE:AROC) Declares Dividend Increase – $0.23 Per Share

Archrock, Inc. (NYSE:AROC) announced a quarterly dividend on Thursday, July 23rd. Stockholders of record on Tuesday, August 4th will be given a dividend of 0.23 per share by the energy company on Tuesday, August 11th. This represents a c) dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, August 4th. This is a 4.5% increase from Archrock’s previous quarterly dividend of $0.22.

Archrock has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Archrock has a dividend payout ratio of 47.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Archrock to earn $2.29 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 38.4%.

Archrock Trading Up 0.1%

NYSE AROC opened at $38.38 on Friday. The stock has a market cap of $6.73 billion, a P/E ratio of 20.86, a PEG ratio of 1.68 and a beta of 0.84. The company’s fifty day simple moving average is $37.17 and its 200-day simple moving average is $34.76. The company has a current ratio of 1.41, a quick ratio of 0.91 and a debt-to-equity ratio of 1.57. Archrock has a 52 week low of $21.17 and a 52 week high of $42.23.

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

Insider Buying and Selling

In other news, SVP Jason Ingersoll sold 33,000 shares of Archrock stock in a transaction that occurred 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 owned 277,454 shares in the company, valued at approximately $10,595,968.26. This trade represents a 10.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Doug S. Aron sold 90,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $36.74, for a total value of $3,306,600.00. Following the completion of the sale, the chief financial officer owned 394,337 shares of the company’s stock, valued at $14,487,941.38. This trade represents a 18.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 158,000 shares of company stock worth $5,907,370. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Archrock

Institutional investors and hedge funds have recently modified their holdings of the business. Vaughan Nelson Investment Management L.P. acquired a new position in Archrock in the fourth quarter valued at approximately $61,144,000. Neuberger Berman Group LLC raised its position in shares of Archrock by 9,756.7% during the 4th quarter. Neuberger Berman Group LLC now owns 1,293,002 shares of the energy company’s stock worth $33,644,000 after purchasing an additional 1,279,884 shares during the period. Stephens Investment Management Group LLC acquired a new stake in shares of Archrock during the 4th quarter worth approximately $32,904,000. Norges Bank bought a new stake in shares of Archrock in the 4th quarter worth approximately $18,721,000. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Archrock in the 2nd quarter worth approximately $16,027,000. 95.45% of the stock is owned by institutional investors and hedge funds.

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.