Harbor Capital Advisors Inc. Purchases 42,432 Shares of Archrock, Inc. (NYSE:AROC)

Harbor Capital Advisors Inc. increased its stake in Archrock, Inc. (NYSE:AROC - Free Report) by 6,866.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 43,050 shares of the energy company's stock after purchasing an additional 42,432 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Archrock were worth $1,130,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Empowered Funds LLC raised its stake in Archrock by 5.1% in the 4th quarter. Empowered Funds LLC now owns 72,890 shares of the energy company's stock valued at $1,814,000 after acquiring an additional 3,541 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Archrock by 3.7% in the fourth quarter. Louisiana State Employees Retirement System now owns 84,700 shares of the energy company's stock worth $2,108,000 after purchasing an additional 3,000 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Archrock by 118,620.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 17,808 shares of the energy company's stock valued at $451,000 after purchasing an additional 17,793 shares during the period. Rhumbline Advisers raised its position in shares of Archrock by 2.6% in the fourth quarter. Rhumbline Advisers now owns 476,326 shares of the energy company's stock valued at $11,856,000 after purchasing an additional 12,177 shares during the period. Finally, Montag A & Associates Inc. purchased a new stake in shares of Archrock during the 4th quarter valued at approximately $55,000. Hedge funds and other institutional investors own 95.45% of the company's stock.

Archrock Price Performance

NYSE:AROC traded up $0.26 during mid-day trading on Tuesday, hitting $24.82. 999,859 shares of the stock traded hands, compared to its average volume of 1,427,955. The business's 50-day moving average price is $24.55 and its 200 day moving average price is $25.67. The company has a quick ratio of 0.96, a current ratio of 1.47 and a debt-to-equity ratio of 1.70. The company has a market cap of $4.39 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 1.26 and a beta of 1.11. Archrock, Inc. has a 12-month low of $17.27 and a 12-month high of $30.44.

Archrock (NYSE:AROC - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The energy company reported $0.42 EPS for the quarter, beating the consensus estimate 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 net margin of 16.38% and a return on equity of 18.31%. On average, analysts expect that Archrock, Inc. will post 1.09 EPS for the current fiscal year.

Archrock Announces Dividend

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 $0.19 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.06%. Archrock's dividend payout ratio (DPR) is presently 64.41%.

Archrock declared that its Board of Directors has approved a share buyback program on Monday, May 5th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the energy company to buy up to 1.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

AROC has been the subject of a number of recent research reports. Citigroup lifted their price objective 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 raised 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's stock. According to MarketBeat.com, Archrock presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.67.

Insider Activity at Archrock

In related news, SVP Jason Ingersoll sold 42,036 shares of the company'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 transaction, the senior vice president now directly owns 275,911 shares in the company, valued at approximately $6,757,060.39. This represents 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 accessible through the SEC website. 2.60% of the stock is owned by corporate insiders.

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.