Texas Permanent School Fund lessened its stake in shares of Archrock Inc (NYSE:AROC) by 1.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 86,890 shares of the energy company’s stock after selling 1,564 shares during the quarter. Texas Permanent School Fund owned about 0.07% of Archrock worth $866,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its holdings in shares of Archrock by 1,058.8% in the third quarter. Nisa Investment Advisors LLC now owns 9,850 shares of the energy company’s stock worth $98,000 after buying an additional 9,000 shares during the last quarter. Magnus Financial Group LLC purchased a new position in shares of Archrock in the second quarter worth approximately $144,000. Virginia Retirement Systems ET AL purchased a new position in shares of Archrock in the second quarter worth approximately $148,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Archrock in the third quarter worth approximately $158,000. Finally, Trexquant Investment LP purchased a new position in shares of Archrock in the second quarter worth approximately $160,000. 76.10% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on AROC. B. Riley set a $17.00 price objective on shares of Archrock and gave the stock a “buy” rating in a report on Monday, September 30th. Zacks Investment Research raised shares of Archrock from a “sell” rating to a “hold” rating in a report on Wednesday, October 23rd.
Archrock (NYSE:AROC) last released its earnings results on Monday, October 28th. The energy company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). Archrock had a return on equity of 7.68% and a net margin of 6.74%. The firm had revenue of $244.95 million for the quarter, compared to the consensus estimate of $251.90 million. During the same quarter in the previous year, the business posted $0.08 EPS. Archrock’s revenue was up 5.4% on a year-over-year basis. Sell-side analysts forecast that Archrock Inc will post 0.61 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a yield of 6.62%. The ex-dividend date of this dividend is Wednesday, November 6th. Archrock’s payout ratio is 120.83%.
In other news, CEO D Bradley Childers bought 5,555 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were bought at an average price of $9.00 per share, for a total transaction of $49,995.00. Following the purchase, the chief executive officer now owns 1,195,621 shares in the company, valued at $10,760,589. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Donna A. Henderson sold 15,308 shares of Archrock stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $10.14, for a total transaction of $155,223.12. Following the sale, the chief accounting officer now owns 34,177 shares in the company, valued at approximately $346,554.78. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 261,110 shares of company stock worth $324,823. 1.99% of the stock is owned by company insiders.
Archrock, Inc engages in the provision of operations, maintenance, service, and equipment for oil and natural gas production, processing, and transportation applications. It operates through the Contract Operations and Aftermarket Services segments. The Contract Operations segment is comprised of equity investment in the partnership, in addition to the owned fleet of natural gas compression equipment that the company use to provide operations services.
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