Stock News Alert: Archrock (NYSE:AROC) declared the closing of the previously reported private offering
Archrock (NYSE:AROC) stock observed trading -15.05% off 52-week high price. On the other end, the stock has been noted 33.75% away from low price over the last 52-weeks. The stock disclosed a move of 5.26% away from 50 day moving average. Moving closer, we can see that shares have been trading 9.19% off 20-day moving average. It has market cap of $1.48B and dividend yield of 5.97%.
On Dec. 20, 2019, Archrock (NYSE:AROC) declared the closing of the previously reported private offering by Archrock Partners, L.P. (Archrock Partners), a wholly-owned subsidiary of Archrock, of $500 million aggregate principal amount of 6.250% senior notes due 2028 (the Notes). Archrock Partners Finance Corp., a wholly-owned subsidiary of Archrock Partners, is the co-issuer of the Notes. Archrock Partners intends to use the net proceeds of the sale of the Notes to partially repay outstanding borrowings under its revolving credit facility and for general partnership purposes.
The Notes have not been registered under the Securities Act of 1933, as amended (the Securities Act), or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and the rules promulgated thereunder and applicable state securities laws. The Notes will be offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Archrock is an energy infrastructure company with a pure-play focus on midstream natural gas compression. Archrock is the leading provider of natural gas compression services to customers in the oil and natural gas industry throughout the United States and a leading supplier of aftermarket services to customers that own compression equipment. Archrock is headquartered in Houston, Texas, with approximately 1,700 employees.
The USA based company Archrock moved with change of 0.41% to $9.71 with the total traded volume of 2425185 shares in recent session versus to an average volume of 823.61K shares. The stock was observed in the 5 days activity at 5.20%. The one month performance of stock was 13.70%. AROC’s shares are at -6.09% for the quarter and driving a 22.91% return over the course of the past year and is now at 29.64% since this point in 2018. Right now the stock beta is 2.81. The average volatility for the week and month was at 2.82% and 3.05% respectively. There are 151.91M shares outstanding and 127.81M shares are floated in market.
Christopher Pacheco has worked as financial analyst until his retirement. He is a well-known research director and portfolio manager for more than 5 years. After many years in the market, he dedicated all his time to write articles highlighting different financial problems.
Christopher Pacheco holds a postgraduate degree in Software Engineering from Canada. ‘The stock market is filled with individuals who know the price of everything, but the value of nothing.’ Christopher is a share market expert, being personally invested for over 6 years. He believes the most valuable nugget of wisdom for new investors is a quote from Phillip Fisher. He has been writing his entire life, and while he has made a career of business and finance reporting, he still enjoys writing short stories and poetry.
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