Archrock, Inc. $AROC Shares Purchased by Algert Global LLC

Key Points

• Algert Global LLC increased its stake in Archrock, Inc. (NYSE:AROC) by 12.9%, now holding approximately $15.13 million worth of shares, which represents 0.4% of its investment portfolio.
• Archrock recently declared a quarterly dividend increase from $0.19 to $0.21 per share, equating to an annual yield of 3.5% with a payout ratio of 63.64%.
• In its latest earnings report, Archrock exceeded analysts' expectations by reporting $0.39 earnings per share, with revenue of $383.15 million for the quarter, marking a 41.6% increase year-over-year.

Algert Global LLC lifted its stake in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 12.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 576,570 shares of the energy company's stock after acquiring an additional 65,695 shares during the quarter. Archrock makes up approximately 0.4% of Algert Global LLC's holdings, making the stock its 22nd biggest holding. Algert Global LLC owned about 0.33% of Archrock worth $15,129,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Teachers Retirement System of The State of Kentucky increased its position in shares of Archrock by 34.4% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 55,528 shares of the energy company's stock worth $1,457,000 after acquiring an additional 14,200 shares during the period. KBC Group NV increased its position in shares of Archrock by 13.2% during the first quarter. KBC Group NV now owns 8,030 shares of the energy company's stock worth $211,000 after acquiring an additional 937 shares during the period. GAMMA Investing LLC increased its position in shares of Archrock by 26.7% during the first quarter. GAMMA Investing LLC now owns 9,098 shares of the energy company's stock worth $239,000 after acquiring an additional 1,917 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Archrock by 53.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 27,402 shares of the energy company's stock worth $725,000 after acquiring an additional 9,594 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Archrock during the first quarter worth approximately $522,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Evercore ISI cut their price objective on shares of Archrock from $32.00 to $31.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Sidoti raised shares of Archrock to a "hold" rating in a report on Wednesday, May 7th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.40.

Insider Activity

In related news, SVP Eric W. Thode sold 10,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $23.54, for a total transaction of $235,400.00. Following the completion of the transaction, the senior vice president owned 224,809 shares of the company's stock, valued at $5,292,003.86. This trade represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.60% of the stock is currently owned by company insiders.

Archrock Stock Up 0.7%

AROC traded up $0.1650 during trading on Friday, hitting $25.1250. The stock had a trading volume of 558,616 shares, compared to its average volume of 1,416,410. The company has a market capitalization of $4.42 billion, a PE ratio of 19.04, a PEG ratio of 1.27 and a beta of 1.10. Archrock, Inc. has a twelve month low of $18.38 and a twelve month high of $30.44. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.30 and a current ratio of 1.81. The stock has a 50 day simple moving average of $23.86 and a two-hundred day simple moving average of $24.77.

Archrock (NYSE:AROC - Get Free Report) last announced its earnings results on Monday, August 4th. The energy company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $383.15 million during the quarter, compared to the consensus estimate of $366.34 million. Archrock had a net margin of 17.17% and a return on equity of 18.74%. Archrock's revenue was up 41.6% compared to the same quarter last year. During the same period last year, the firm earned $0.23 earnings per share. On average, research analysts predict that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.3%. This is a boost from Archrock's previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Tuesday, August 5th. Archrock's dividend payout ratio is 63.64%.

Archrock declared that its Board of Directors has authorized a share repurchase program on Monday, May 5th that permits the company to repurchase $50.00 million in 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 typically an indication that the company's board believes its stock is undervalued.

About Archrock

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.