HWG Holdings LP Has $5.95 Million Stock Holdings in Archrock, Inc. $AROC

Key Points

• HWG Holdings LP sold 16.2% of its shares in Archrock, Inc., reducing its ownership to approximately 239,779 shares, which constitutes 1.7% of its investment portfolio.
• Archrock recently reported a quarterly earnings per share (EPS) of $0.39, exceeding analyst estimates and highlighting a 41.6% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.21, marking an increase from its previous dividend and resulting in an annual yield of 3.5%.

HWG Holdings LP cut its position in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 16.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 239,779 shares of the energy company's stock after selling 46,360 shares during the period. Archrock accounts for 1.7% of HWG Holdings LP's portfolio, making the stock its 19th largest holding. HWG Holdings LP owned 0.14% of Archrock worth $5,954,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AROC. Farther Finance Advisors LLC increased its stake in shares of Archrock by 164.8% during the 1st quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company's stock worth $26,000 after purchasing an additional 600 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Archrock during the 1st quarter worth about $33,000. Jones Financial Companies Lllp increased its stake in shares of Archrock by 217.9% during the 1st quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company's stock worth $35,000 after purchasing an additional 902 shares during the last quarter. TCTC Holdings LLC increased its stake in shares of Archrock by 119.6% during the 1st quarter. TCTC Holdings LLC now owns 1,599 shares of the energy company's stock worth $42,000 after purchasing an additional 871 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new position in shares of Archrock during the 1st quarter worth about $47,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Archrock Stock Performance

Shares of NYSE:AROC traded up $0.37 on Monday, reaching $24.47. 1,860,719 shares of the company's stock were exchanged, compared to its average volume of 1,524,917. The company has a fifty day moving average of $23.90 and a 200-day moving average of $24.37. Archrock, Inc. has a twelve month low of $19.73 and a twelve month high of $30.44. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 1.24 and a beta of 1.14. The company has a current ratio of 1.81, a quick ratio of 1.30 and a debt-to-equity ratio of 1.86.

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

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Tuesday, August 5th. This is a boost from Archrock's previous quarterly dividend of $0.19. Archrock's dividend payout ratio (DPR) is currently 63.64%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Mizuho upped their price target on shares of Archrock from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Wells Fargo & Company assumed coverage on shares of Archrock in a research note on Wednesday, September 3rd. They issued an "overweight" rating and a $30.00 price target on the stock. Finally, Evercore ISI decreased their price target on shares of Archrock from $32.00 to $31.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $30.00.

Insider Buying and Selling

In other Archrock news, SVP Eric W. Thode sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the senior vice president owned 224,809 shares in the company, valued at $5,292,003.86. This represents a 4.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jason C. Rebrook purchased 10,000 shares of Archrock stock in a transaction that occurred on Thursday, September 18th. The shares were purchased at an average price of $24.17 per share, for a total transaction of $241,700.00. Following the transaction, the director directly owned 74,511 shares in the company, valued at $1,800,930.87. This represents a 15.50% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.60% of the company's stock.

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.