Cetera Investment Advisers Buys 10,882 Shares of Archrock, Inc. $AROC

Key Points

• Cetera Investment Advisers increased its stock position in Archrock, Inc. by 64.6% during the first quarter, holding a total of 27,718 shares valued at $727,000.
• Archrock reported a 41.6% increase in year-over-year revenue, achieving $383.15 million for the quarter, and beat analysts' EPS expectations.
• The company has announced a quarterly dividend increase from $0.19 to $0.21 per share, resulting in an annualized yield of 3.5%.

Cetera Investment Advisers increased its position in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 64.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,718 shares of the energy company's stock after purchasing an additional 10,882 shares during the period. Cetera Investment Advisers' holdings in Archrock were worth $727,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky raised its position in Archrock by 34.4% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 55,528 shares of the energy company's stock valued at $1,457,000 after purchasing an additional 14,200 shares in the last quarter. KBC Group NV boosted its position in shares of Archrock by 13.2% during the 1st quarter. KBC Group NV now owns 8,030 shares of the energy company's stock worth $211,000 after acquiring an additional 937 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Archrock by 26.7% during the 1st 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Archrock by 53.9% during the 1st 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 in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Archrock during the 1st quarter worth about $522,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Sidoti upgraded shares of Archrock to a "hold" rating in a research note on Wednesday, May 7th. Evercore ISI dropped 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. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $28.40.

Archrock Stock Performance

Shares of AROC stock traded up $0.11 during trading hours on Monday, reaching $23.97. The stock had a trading volume of 684,271 shares, compared to its average volume of 1,418,761. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.81 and a quick ratio of 1.30. Archrock, Inc. has a twelve month low of $18.38 and a twelve month high of $30.44. The firm has a 50-day simple moving average of $23.91 and a 200-day simple moving average of $24.83. The firm has a market capitalization of $4.21 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 1.23 and a beta of 1.10.

Archrock (NYSE:AROC - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The energy company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. The business 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%. The company's quarterly revenue was up 41.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.23 earnings per share. As a group, equities analysts forecast that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.5%. 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 is presently 63.64%.

Archrock declared that its Board of Directors has authorized a stock repurchase plan on Monday, May 5th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the energy company to buy up to 1.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Transactions at Archrock

In related news, SVP Eric W. Thode sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $23.54, for a total value of $235,400.00. Following the completion of the sale, the senior vice president owned 224,809 shares in the company, valued at approximately $5,292,003.86. This represents a 4.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.60% of the company's stock.

Archrock Company 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.