Fisher Asset Management LLC Has $835,000 Position in Archrock, Inc. $AROC

Fisher Asset Management LLC cut its holdings in shares of Archrock, Inc. (NYSE:AROC) by 43.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 32,099 shares of the energy company’s stock after selling 24,750 shares during the quarter. Fisher Asset Management LLC’s holdings in Archrock were worth $835,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. American Century Companies Inc. increased its position in Archrock by 3.3% during the 3rd quarter. American Century Companies Inc. now owns 6,077,999 shares of the energy company’s stock valued at $159,912,000 after purchasing an additional 191,914 shares during the period. Allianz Asset Management GmbH grew its holdings in Archrock by 19.8% in the third quarter. Allianz Asset Management GmbH now owns 264,991 shares of the energy company’s stock worth $6,972,000 after purchasing an additional 43,872 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Archrock by 15,293.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 138,388 shares of the energy company’s stock valued at $3,601,000 after buying an additional 137,489 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Archrock by 17.1% in the third quarter. JPMorgan Chase & Co. now owns 438,624 shares of the energy company’s stock valued at $11,540,000 after acquiring an additional 64,041 shares during the period. Finally, Stephens Investment Management Group LLC acquired a new stake in Archrock in the 4th quarter valued at $32,904,000. Institutional investors own 95.45% of the company’s stock.

Insiders Place Their Bets

In other Archrock news, CFO Doug S. Aron sold 35,000 shares of Archrock stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $38.30, for a total transaction of $1,340,500.00. Following the completion of the sale, the chief financial officer owned 359,337 shares of the company’s stock, valued at $13,762,607.10. The trade was a 8.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Donna A. Henderson sold 10,413 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $36.74, for a total transaction of $382,573.62. Following the transaction, the chief accounting officer owned 27,757 shares in the company, valued at $1,019,792.18. The trade was a 27.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 337,963 shares of company stock valued at $12,244,277 over the last 90 days. Insiders own 2.90% of the company’s stock.

Archrock Price Performance

Shares of NYSE:AROC opened at $33.45 on Friday. The stock has a market cap of $5.86 billion, a P/E ratio of 18.18, a P/E/G ratio of 1.43 and a beta of 0.94. Archrock, Inc. has a 12 month low of $21.17 and a 12 month high of $40.12. The company has a 50 day moving average of $36.50 and a 200 day moving average of $31.32. 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 (NYSE:AROC) last posted its quarterly earnings data on Tuesday, May 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.05). The business had revenue of $373.77 million for the quarter, compared to the consensus estimate of $378.36 million. Archrock had a net margin of 21.45% and a return on equity of 22.89%. Archrock’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Archrock, Inc. will post 1.95 EPS for the current fiscal year.

Archrock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Tuesday, May 12th were given a $0.22 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $0.88 annualized dividend and a yield of 2.6%. Archrock’s payout ratio is 47.83%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AROC. Stifel Nicolaus set a $41.00 price target on Archrock in a research note on Thursday, May 7th. Raymond James Financial reaffirmed an “outperform” rating and set a $46.00 price target on shares of Archrock in a research report on Thursday, May 7th. Citigroup raised 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. Wall Street Zen cut Archrock from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Royal Bank Of Canada upped their price objective on Archrock from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Archrock has a consensus rating of “Buy” and an average target price of $40.86.

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.