HWG Holdings LP Raises Stock Holdings in Archrock, Inc. (NYSE:AROC)

HWG Holdings LP increased its position in Archrock, Inc. (NYSE:AROC - Free Report) by 42.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 286,139 shares of the energy company's stock after purchasing an additional 85,121 shares during the period. Archrock accounts for 3.3% of HWG Holdings LP's portfolio, making the stock its 12th biggest position. HWG Holdings LP owned approximately 0.16% of Archrock worth $7,508,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of Archrock in the 4th quarter worth approximately $36,241,000. Invesco Ltd. raised its stake in Archrock by 12.8% during the fourth quarter. Invesco Ltd. now owns 8,883,949 shares of the energy company's stock valued at $221,121,000 after buying an additional 1,008,438 shares during the last quarter. Clearbridge Investments LLC bought a new stake in Archrock in the fourth quarter worth $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 acquiring an additional 681,160 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of 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 acquiring an additional 570,680 shares during the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Archrock Price Performance

Shares of AROC stock traded up $0.68 during mid-day trading on Thursday, hitting $25.23. The company had a trading volume of 1,070,723 shares, compared to its average volume of 1,427,600. The company has a market capitalization of $4.46 billion, a P/E ratio of 21.38, a P/E/G ratio of 1.32 and a beta of 1.11. The stock's 50 day moving average price is $24.76 and its 200-day moving average price is $25.63. Archrock, Inc. has a 52-week low of $17.27 and a 52-week high of $30.44. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.47 and a quick ratio of 0.96.

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, 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 analysts' expectations of $342.98 million. Equities research analysts forecast that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock declared that its Board of Directors has approved a stock repurchase 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 purchase up to 1.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Archrock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Tuesday, May 6th. Archrock's payout ratio is 64.41%.

Insider Buying and Selling

In related news, SVP Jason Ingersoll sold 42,036 shares of the stock in a transaction on 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 sale, the senior vice president now owns 275,911 shares in the company, valued at approximately $6,757,060.39. This represents a 13.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AROC shares. Sidoti raised Archrock to a "hold" rating in a research report on Wednesday, May 7th. Citigroup boosted their price target on Archrock from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. 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, Archrock currently has a consensus rating of "Moderate Buy" and an average price target of $26.67.

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.