Dakota Wealth Management Invests $534,000 in Archrock, Inc. (NYSE:AROC)

Dakota Wealth Management acquired a new position in Archrock, Inc. (NYSE:AROC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 20,345 shares of the energy company's stock, valued at approximately $534,000.

A number of other large investors have also modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in shares of Archrock by 164.8% during the first quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company's stock valued at $26,000 after acquiring an additional 600 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Archrock in the 1st quarter valued at about $33,000. Covestor Ltd raised its holdings in Archrock by 580.6% in the 4th quarter. Covestor Ltd now owns 4,485 shares of the energy company's stock valued at $111,000 after acquiring an additional 3,826 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in Archrock in the 4th quarter valued at about $126,000. Finally, Focus Partners Wealth acquired a new stake in Archrock in the 4th quarter valued at about $209,000. Institutional investors and hedge funds own 95.45% of the company's stock.

Analyst Ratings Changes

Separately, Sidoti upgraded shares of Archrock to a "hold" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Archrock currently has an average rating of "Moderate Buy" and an average price target of $26.67.

Archrock Trading Up 0.6%

Shares of NYSE AROC traded up $0.14 during midday trading on Friday, reaching $23.39. 1,840,392 shares of the stock were exchanged, compared to its average volume of 1,431,395. The company has a 50 day simple moving average of $24.76 and a 200 day simple moving average of $25.51. The stock has a market capitalization of $4.14 billion, a P/E ratio of 19.82, a PEG ratio of 1.26 and a beta of 1.08. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.96 and a current ratio of 1.47. Archrock, Inc. has a twelve month low of $17.27 and a twelve month high of $30.44.

Archrock (NYSE:AROC - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The energy company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.03. The firm had revenue of $347.16 million during the quarter, compared to analysts' expectations of $342.98 million. Archrock had a net margin of 16.38% and a return on equity of 18.31%. As a group, equities analysts expect that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.25%. Archrock's payout ratio is currently 64.41%.

Archrock declared that its board has approved a stock buyback program on Monday, May 5th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the energy company to reacquire up to 1.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Archrock

In other Archrock 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 value of $1,029,461.64. Following the completion of the transaction, the senior vice president owned 275,911 shares of the company's stock, valued at $6,757,060.39. This trade represents a 13.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.60% of the company's stock.

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.