Exchange Traded Concepts LLC Has $10.83 Million Stake in Archrock, Inc. (NYSE:AROC)

Exchange Traded Concepts LLC grew its holdings in Archrock, Inc. (NYSE:AROC - Free Report) by 11.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 412,858 shares of the energy company's stock after acquiring an additional 43,693 shares during the quarter. Exchange Traded Concepts LLC owned 0.24% of Archrock worth $10,833,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Empowered Funds LLC grew its holdings in shares of Archrock by 5.1% during the fourth quarter. Empowered Funds LLC now owns 72,890 shares of the energy company's stock worth $1,814,000 after buying an additional 3,541 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Archrock by 118,620.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 17,808 shares of the energy company's stock worth $451,000 after acquiring an additional 17,793 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Archrock by 2.6% during the 4th quarter. Rhumbline Advisers now owns 476,326 shares of the energy company's stock worth $11,856,000 after acquiring an additional 12,177 shares in the last quarter. Montag A & Associates Inc. acquired a new stake in shares of Archrock in the fourth quarter valued at approximately $55,000. Finally, Allworth Financial LP boosted its holdings in Archrock by 646.8% during the fourth quarter. Allworth Financial LP now owns 14,466 shares of the energy company's stock worth $360,000 after purchasing an additional 12,529 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AROC shares. Citigroup lifted their price target on shares of Archrock from $32.00 to $33.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. Sidoti upgraded Archrock to a "hold" rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.67.

Archrock Stock Performance

Shares of AROC traded up $0.26 during midday trading on Tuesday, reaching $24.82. The stock had a trading volume of 999,859 shares, compared to its average volume of 1,427,954. The firm has a market cap of $4.39 billion, a PE ratio of 21.03, a P/E/G ratio of 1.26 and a beta of 1.11. The firm has a 50 day simple moving average of $24.55 and a 200-day simple moving average of $25.67. Archrock, Inc. has a one year low of $17.27 and a one year high of $30.44. The company has a current ratio of 1.47, a quick ratio of 0.96 and a debt-to-equity ratio of 1.70.

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

Archrock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Tuesday, May 6th. Archrock's payout ratio is presently 64.41%.

Archrock declared that its Board of Directors has approved a share buyback 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 reacquire up to 1.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.

Insider Activity at Archrock

In other Archrock news, SVP Jason Ingersoll sold 42,036 shares of the company's stock in a transaction 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 transaction, the senior vice president now directly owns 275,911 shares in the company, valued at $6,757,060.39. The trade was a 13.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is owned by company insiders.

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.