5 stories mentioning AROCUpdated 36d ago
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Archrock (AROC) said Wednesday it appointed Mohit Singh as senior vice president and chief financial officer, effective July 6.Singh most recently served as chief financial officer of Expand Energy (EXE) until August 2025.Archrock said Singh will succeed Douglas Aron, who previously announced plans to retire.Price: $39.25, Change: $+0.19, Percent Change: +0.49%
Midstream energy stocks fell sharply over the past week as oil prices tumbled and investors reacted to easing tensions in the Middle East, RBC analysts said in a note on Thursday.The Alerian MLP Index, a widely followed benchmark for pipeline and energy infrastructure companies, dropped 4.5% in the week ended June 17, underperforming the S&P 500, which gained 2.1%.The decline came as US crude oil prices fell 16% to about $76 per barrel following an Iran peace agreement that reduced concerns about potential supply disruptions. Natural gas prices were largely unchanged.Despite the recent pullback, midstream stocks remain among the stronger-performing energy sectors this year. The Alerian index is up 11.8% year-to-date, ahead of utilities and the broader market, though it trails gains in some oilfield services and exploration-and-production stocks.Companies with business models less exposed to commodity price swings held up relatively well during the selloff. Shares of Kodiak Gas Services, Archrock and MPLX outperformed the broader midstream sector.Venture Global was among the biggest losers, falling nearly 17% during the week. RBC said the decline reflected a sharp drop in European natural gas prices after the Iran agreement reduced concerns about global energy supplies.Beyond market performance, industry executives and policymakers gathered in Washington this week focused heavily on efforts to streamline federal permitting for major infrastructure projects, including pipelines, power transmission lines and facilities needed to support the rapid growth of artificial intelligence.RBC said conference attendees expressed cautious optimism that permitting reform could advance this year, citing support from clean-energy developers, technology companies, environmental groups and the administration, which has increasingly framed infrastructure development as a national security priority.Industry advocates are also pushing for changes to tax rules governing master limited partnerships to broaden investor participation and improve access to capital.Looking ahead, RBC said investors are likely to remain focused on how fluctuating oil and gas prices affect production activity, corporate earnings and future infrastructure investment plans.Price: $67.52, Change: $+0.97, Percent Change: +1.46%
BP's midstream benchmark fell 1.6% over the week ended June 11, but still delivered a 16.4% gain so far this year, outperforming the S&P 500's 8.0% advance, RBC Capital Markets said Friday.The sector also outperformed utilities by 1,314 basis points and real estate investment trusts by 160 basis points this year, although it lagged oilfield services by 3,319 basis points and exploration and production companies by 1,306 basis points, RBC said.Commodity prices weakened during the week, with front-month West Texas Intermediate crude dropping about 6% to roughly $88 per barrel and Henry Hub natural gas falling about 7.5% to $3.09 per million British thermal units, according to RBC.Archrock (AROC) led performance among RBC-covered companies with a 3.7% gain, supported by continued strength in the compression market, while Sunoco (SUN) fell 4.4% as investors likely locked in profits, the firm said.C-corporations gained 0.1%, outperforming master limited partnerships, which declined 1.6%.RBC estimates its coverage universe trades at an average 2027 enterprise value-to-adjusted EBITDA multiple of 10.0x and expects midstream stocks to remain sensitive to Iran-related developments that influence commodity prices.The firm said companies with greater perceived commodity exposure, including Targa Resources (TRGP), ONEOK (OKE), and Kinetik Holdings (KNTK), as well as liquefied natural gas-focused names such as Venture Global (VG) and Cheniere Energy (LNG), could react most sharply to geopolitical headlines.Kinder Morgan will kick off the second-quarter earnings season for RBC's coverage universe on July 22. RBC expects management to discuss geopolitical and macroeconomic conditions, stronger export activity, commodity-price support, and growth opportunities across its project pipeline.Among its preferred investments, RBC highlighted Cheniere Energy, citing 95% contracted cash flows through 2035, a $10 billion share repurchase program, and a target to increase dividends by 10% annually through 2030.RBC said Sunoco can build on operational momentum through 2027, benefiting from stronger refining margins at Burnaby, synergies from the Parkland acquisition, and an additional $500 million bolt-on acquisition strategy.The firm also favors Targa Resources, citing customer-backed expansion projects, exposure to leading Permian Basin acreage, and rising gas-to-oil ratios that could support natural gas growth even if crude production levels off.For Williams Companies (WMB), RBC sees growing electricity demand and natural gas consumption creating opportunities for high-return projects tied to Transco expansions and power-related infrastructure through 2030 and beyond.Williams is targeting adjusted EBITDA compound annual growth of more than 10% through 2030, including roughly 9% growth from Haynesville-related projects, while maintaining a balance sheet capable of supporting further expansion, RBC said.Price: $36.67, Change: $+0.59, Percent Change: +1.65%
Jason Ingersoll, Senior Vice President, on May 18, 2026, sold 33,000 shares in Archrock (AROC) for $1,260,270. Following the Form 4 filing with the SEC, Ingersoll has control over a total of 277,454 common shares of the company, with 277,454 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1389050/000165778526000005/xslF345X05/form4-05192026_020553.xmlPrice: $37.80, Change: $-0.82, Percent Change: -2.12%
Jason Ingersoll, Senior Vice President, on May 18, 2026, sold 33,000 shares in Archrock (AROC) for $1,260,270. Following the Form 4 filing with the SEC, Ingersoll has control over a total of 277,454 shares of the company, with 277,454 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1389050/000165778526000005/xslF345X05/form4-05192026_020553.xmlPrice: $38.14, Change: $-0.48, Percent Change: -1.24%
