Balyasny Asset Management L.P. Makes New Investment in Archrock, Inc. (NYSE:AROC)

Balyasny Asset Management L.P. acquired a new position in Archrock, Inc. (NYSE:AROC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 41,568 shares of the energy company's stock, valued at approximately $1,035,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Archrock by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 21,571,800 shares of the energy company's stock worth $536,922,000 after purchasing an additional 508,214 shares during the period. Earnest Partners LLC boosted its stake in Archrock by 0.4% in the 4th quarter. Earnest Partners LLC now owns 13,074,904 shares of the energy company's stock worth $325,434,000 after purchasing an additional 47,563 shares during the period. Invesco Ltd. boosted its stake in Archrock by 12.8% in the 4th quarter. Invesco Ltd. now owns 8,883,949 shares of the energy company's stock worth $221,121,000 after purchasing an additional 1,008,438 shares during the period. Sei Investments Co. boosted its stake in Archrock by 8.3% in the 4th quarter. Sei Investments Co. now owns 5,354,764 shares of the energy company's stock worth $133,280,000 after purchasing an additional 411,286 shares during the period. Finally, American Century Companies Inc. boosted its stake in Archrock by 10.0% in the 4th quarter. American Century Companies Inc. now owns 4,927,024 shares of the energy company's stock worth $122,634,000 after purchasing an additional 448,410 shares during the period. Institutional investors and hedge funds own 95.45% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Citigroup increased their target price on shares of Archrock from $32.00 to $33.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. Sidoti upgraded shares of Archrock to a "hold" rating in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $26.67.

Insider Activity

In other news, SVP Jason Ingersoll sold 42,036 shares of the firm's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $24.49, for a total transaction of $1,029,461.64. Following the transaction, the senior vice president now owns 275,911 shares in the company, valued at approximately $6,757,060.39. This trade represents a 13.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is owned by insiders.

Archrock Stock Down 0.6%

AROC stock traded down $0.15 during midday trading on Monday, reaching $25.30. The company had a trading volume of 745,383 shares, compared to its average volume of 1,458,585. The company has a market capitalization of $4.47 billion, a P/E ratio of 27.80, a PEG ratio of 1.60 and a beta of 1.19. The company has a 50 day moving average of $24.54 and a two-hundred day moving average of $25.49. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. Archrock, Inc. has a 1 year low of $17.27 and a 1 year high of $30.44.

Archrock (NYSE:AROC - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The energy company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.03. The business had revenue of $347.16 million for the quarter, compared to the consensus estimate of $342.98 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. On average, equities research analysts expect that Archrock, Inc. will post 1.09 earnings per share for the current fiscal year.

Archrock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th were issued a dividend of $0.19 per share. The ex-dividend date was Tuesday, May 6th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.00%. Archrock's dividend payout ratio is currently 64.41%.

Archrock declared that its Board of Directors has approved a stock repurchase program on Monday, May 5th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the energy company to buy up to 1.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

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.