Edgestream Partners L.P. Increases Stock Holdings in Archrock, Inc. (NYSE:AROC)

Edgestream Partners L.P. increased its holdings in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 155.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 331,275 shares of the energy company's stock after buying an additional 201,618 shares during the period. Edgestream Partners L.P. owned about 0.19% of Archrock worth $8,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in Archrock by 164.8% in the 1st quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company's stock valued at $26,000 after purchasing an additional 600 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Archrock in the 1st quarter valued at $33,000. Covestor Ltd raised its stake 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 purchasing an additional 3,826 shares during the last quarter. Park Square Financial Group LLC acquired a new position in Archrock in the 4th quarter valued at $126,000. Finally, KBC Group NV raised its stake in Archrock by 13.2% in the 1st quarter. KBC Group NV now owns 8,030 shares of the energy company's stock valued at $211,000 after purchasing an additional 937 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company's stock.

Archrock Stock Up 0.1%

Shares of AROC opened at $23.33 on Monday. Archrock, Inc. has a 52-week low of $17.27 and a 52-week high of $30.44. The company has a market capitalization of $4.12 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 1.26 and a beta of 1.08. The stock has a fifty day simple moving average of $24.84 and a two-hundred day simple moving average of $25.56. The company has a quick ratio of 0.96, a current ratio of 1.47 and a debt-to-equity ratio of 1.70.

Archrock (NYSE:AROC - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $347.16 million during the quarter, compared to the consensus estimate of $342.98 million. Archrock had a return on equity of 18.31% and a net margin of 16.38%. As a group, equities analysts forecast that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Dividend Announcement

The firm 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. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Tuesday, May 6th. Archrock's payout ratio is 64.41%.

Archrock announced that its Board of Directors has initiated a share repurchase program on Monday, May 5th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the energy company to purchase up to 1.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

AROC has been the subject of several recent research reports. Sidoti raised Archrock to a "hold" rating in a research note on Wednesday, May 7th. Citigroup raised their target price on Archrock from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.67.

Insider Activity

In related news, SVP Jason Ingersoll sold 42,036 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was 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 directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.

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