Nuveen Asset Management LLC Boosts Position in Archrock, Inc. (NYSE:AROC)

Nuveen Asset Management LLC raised its stake in shares of Archrock, Inc. (NYSE:AROC – Get Rating) by 14.5% in the third quarter, Holdings Channel reports. The institutional investor owned 1,032,707 shares of the energy company’s stock after buying an additional 130,574 shares during the quarter. Nuveen Asset Management LLC’s holdings in Archrock were worth $6,629,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wipfli Financial Advisors LLC purchased a new position in Archrock during the 3rd quarter valued at about $29,000. Ronald Blue Trust Inc. purchased a new position in Archrock during the 2nd quarter valued at about $81,000. Summit Financial Wealth Advisors LLC purchased a new position in shares of Archrock during the third quarter worth about $74,000. Mackenzie Financial Corp purchased a new position in shares of Archrock during the second quarter worth about $85,000. Finally, Great Valley Advisor Group Inc. purchased a new position in shares of Archrock during the third quarter worth about $69,000. Hedge funds and other institutional investors own 82.05% of the company’s stock.

Insider Activity at Archrock

In other news, major shareholder Ocean Reserves Lp Old sold 557,737 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $10.83, for a total value of $6,040,291.71. Following the sale, the insider now directly owns 16,172,626 shares of the company’s stock, valued at $175,149,539.58. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, major shareholder Ocean Reserves Lp Old sold 557,737 shares of the company’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $10.83, for a total transaction of $6,040,291.71. Following the transaction, the insider now directly owns 16,172,626 shares of the company’s stock, valued at $175,149,539.58. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Donna A. Henderson sold 13,961 shares of the company’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $11.11, for a total value of $155,106.71. Following the transaction, the chief accounting officer now directly owns 50,039 shares in the company, valued at $555,933.29. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.

Archrock Stock Performance

Shares of AROC stock opened at $10.27 on Monday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.99 and a current ratio of 1.56. Archrock, Inc. has a fifty-two week low of $6.28 and a fifty-two week high of $11.49. The stock has a 50 day moving average price of $9.81 and a two-hundred day moving average price of $8.49. The company has a market capitalization of $1.61 billion, a P/E ratio of 35.42 and a beta of 1.77.

Archrock (NYSE:AROC – Get Rating) last announced its quarterly earnings data on Wednesday, February 22nd. The energy company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. Archrock had a return on equity of 5.10% and a net margin of 5.24%. The firm had revenue of $218.87 million during the quarter, compared to the consensus estimate of $213.27 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. Analysts expect that Archrock, Inc. will post 0.59 earnings per share for the current year.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Tuesday, February 7th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.84%. The ex-dividend date was Monday, February 6th. This is an increase from Archrock’s previous quarterly dividend of $0.15. Archrock’s dividend payout ratio is currently 206.90%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Royal Bank of Canada boosted their price objective on Archrock from $12.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday, February 23rd. Raymond James boosted their target price on Archrock from $10.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, February 24th. Finally, StockNews.com upgraded Archrock from a “hold” rating to a “buy” rating in a research report on Thursday, January 5th.

Archrock Company Profile

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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 following segments: Contract Operations and Aftermarket Services. The Contract Operations segment consists 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.