Harvest Fund Management Co. Ltd Purchases 47,275 Shares of Archrock, Inc. (NYSE:AROC)

Harvest Fund Management Co. Ltd lifted its stake in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 378.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,775 shares of the energy company's stock after buying an additional 47,275 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Archrock were worth $1,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Archrock in the fourth quarter worth approximately $36,241,000. Invesco Ltd. boosted its holdings in Archrock by 12.8% in the fourth quarter. Invesco Ltd. now owns 8,883,949 shares of the energy company's stock worth $221,121,000 after purchasing an additional 1,008,438 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in Archrock in the fourth quarter worth approximately $17,247,000. Millennium Management LLC boosted its holdings in Archrock by 186.0% in the fourth quarter. Millennium Management LLC now owns 1,047,346 shares of the energy company's stock worth $26,068,000 after purchasing an additional 681,160 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Archrock by 135.1% in the fourth quarter. JPMorgan Chase & Co. now owns 993,063 shares of the energy company's stock worth $24,717,000 after purchasing an additional 570,680 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Sidoti upgraded shares of Archrock to a "hold" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.00.

Insider Activity at Archrock

In other news, SVP Jason Ingersoll sold 42,036 shares of the firm's stock in a transaction 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 sale, the senior vice president directly owned 275,911 shares in the company, valued at $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 is available at this hyperlink. 2.60% of the stock is owned by insiders.

Archrock Stock Performance

AROC traded down $0.92 during trading on Friday, hitting $22.44. The company's stock had a trading volume of 1,764,392 shares, compared to its average volume of 1,404,660. 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, Inc. has a one year low of $17.26 and a one year high of $30.44. The firm has a market cap of $3.97 billion, a PE ratio of 19.02, a P/E/G ratio of 1.25 and a beta of 1.08. The business's 50 day simple moving average is $24.38 and its 200-day simple moving average is $25.35.

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

Archrock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, August 5th. This is a positive change from Archrock's previous quarterly dividend of $0.19. Archrock's payout ratio is 64.41%.

Archrock announced that its Board of Directors has approved a stock buyback plan on Monday, May 5th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the energy company to repurchase up to 1.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

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.