Crestwood Advisors Group LLC Buys Shares of 21,392 Archrock, Inc. (NYSE:AROC)

Crestwood Advisors Group LLC bought a new stake in Archrock, Inc. (NYSE:AROC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 21,392 shares of the energy company's stock, valued at approximately $561,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in Archrock in the fourth quarter valued at about $36,241,000. Invesco Ltd. grew its stake in shares of Archrock by 12.8% in the fourth quarter. Invesco Ltd. now owns 8,883,949 shares of the energy company's stock valued at $221,121,000 after buying an additional 1,008,438 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in shares of Archrock in the fourth quarter valued at about $17,247,000. Millennium Management LLC raised its holdings in shares of Archrock by 186.0% during the 4th quarter. Millennium Management LLC now owns 1,047,346 shares of the energy company's stock valued at $26,068,000 after buying an additional 681,160 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Archrock by 135.1% during the 4th quarter. JPMorgan Chase & Co. now owns 993,063 shares of the energy company's stock worth $24,717,000 after acquiring an additional 570,680 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company's stock.

Insider Activity

In other news, SVP Jason Ingersoll sold 42,036 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 275,911 shares of the company's stock, valued at approximately $6,757,060.39. This trade represents a 13.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by insiders.

Archrock Stock Down 0.2%

AROC stock traded down $0.06 during trading on Friday, reaching $23.32. The stock had a trading volume of 1,280,017 shares, compared to its average volume of 1,465,374. The company has a current ratio of 1.47, a quick ratio of 0.96 and a debt-to-equity ratio of 1.70. The firm has a fifty day moving average price of $24.51 and a 200 day moving average price of $25.42. The company has a market capitalization of $4.12 billion, a P/E ratio of 19.76, a PEG ratio of 1.26 and a beta of 1.08. Archrock, Inc. has a 1-year low of $17.26 and a 1-year high of $30.44.

Archrock (NYSE:AROC - Get Free Report) last announced its earnings results on Monday, May 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.03. Archrock had a return on equity of 18.31% and a net margin of 16.38%. The business had revenue of $347.16 million for the quarter, compared to analyst estimates of $342.98 million. On average, equities analysts anticipate that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock announced that its board has initiated a stock repurchase plan on Monday, May 5th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the energy company to purchase up to 1.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.60%. This is a positive change from Archrock's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, August 5th. Archrock's dividend payout ratio is presently 64.41%.

Wall Street Analyst Weigh In

Separately, Sidoti upgraded Archrock to a "hold" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $27.00.

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.