Fisher Asset Management LLC Reduces Stock Holdings in Archrock, Inc. $AROC

Fisher Asset Management LLC lessened its stake in Archrock, Inc. (NYSE:AROC) by 56.8% in the second quarter, Holdings Channel reports. The fund owned 45,618 shares of the energy company’s stock after selling 60,034 shares during the quarter. Fisher Asset Management LLC’s holdings in Archrock were worth $1,133,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Invesco Ltd. lifted its position in shares of Archrock by 0.8% during the first quarter. Invesco Ltd. now owns 8,951,896 shares of the energy company’s stock worth $234,898,000 after purchasing an additional 67,947 shares in the last quarter. American Century Companies Inc. increased its stake in Archrock by 9.2% during the 2nd quarter. American Century Companies Inc. now owns 5,886,085 shares of the energy company’s stock worth $146,152,000 after buying an additional 497,121 shares during the period. Geode Capital Management LLC lifted its holdings in Archrock by 1.0% in the 2nd quarter. Geode Capital Management LLC now owns 4,063,469 shares of the energy company’s stock worth $100,909,000 after buying an additional 42,050 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Archrock by 17.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,292,302 shares of the energy company’s stock valued at $60,150,000 after buying an additional 334,858 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Archrock by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,058,502 shares of the energy company’s stock valued at $51,113,000 after buying an additional 20,048 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Archrock Trading Down 0.8%

Shares of NYSE AROC opened at $24.94 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.56 and a debt-to-equity ratio of 1.80. The stock’s 50 day moving average price is $24.62 and its two-hundred day moving average price is $24.45. Archrock, Inc. has a 52-week low of $20.12 and a 52-week high of $30.44. The stock has a market capitalization of $4.37 billion, a P/E ratio of 16.63, a PEG ratio of 1.30 and a beta of 0.94.

Archrock (NYSE:AROC) last issued its quarterly earnings results on Wednesday, October 29th. The energy company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of $382.43 million during the quarter, compared to the consensus estimate of $379.29 million. Archrock had a return on equity of 20.17% and a net margin of 18.43%.The business’s quarterly revenue was up 30.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 EPS. On average, analysts anticipate 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 issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Tuesday, November 4th. Archrock’s dividend payout ratio is 56.00%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AROC. Mizuho lifted their target price on Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Evercore ISI raised their price objective on Archrock from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Archrock in a research report on Wednesday, October 8th. Wells Fargo & Company started coverage on Archrock in a research note on Wednesday, September 3rd. They set an “overweight” rating and a $30.00 target price for the company. Finally, Royal Bank Of Canada raised their price target on shares of Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Archrock currently has an average rating of “Moderate Buy” and an average target price of $32.40.

Insider Transactions at Archrock

In other Archrock news, Director Jason C. Rebrook purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, September 18th. The stock was acquired at an average cost of $24.17 per share, with a total value of $241,700.00. Following the acquisition, the director owned 74,511 shares of the company’s stock, valued at approximately $1,800,930.87. This represents a 15.50% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Eric W. Thode sold 40,740 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $25.10, for a total transaction of $1,022,574.00. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.60% of the company’s stock.

Archrock Profile

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.