Archrock, Inc. (NYSE:AROC) Shares Purchased by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Archrock, Inc. by acquiring an additional 67,947 shares, bringing its total ownership to approximately 8.95 million shares, worth $234.9 million.
• Archrock announced a dividend increase to $0.21 per share and revealed a new $50 million share repurchase plan, indicating confidence in its stock valuation.
• The company reported earnings that exceeded analysts' expectations at $0.39 per share, alongside a revenue increase of 41.6% year-over-year, totaling $383.15 million.

Invesco Ltd. increased its holdings in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 0.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,951,896 shares of the energy company's stock after purchasing an additional 67,947 shares during the quarter. Invesco Ltd. owned approximately 5.11% of Archrock worth $234,898,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AROC. Chicago Partners Investment Group LLC lifted its stake in shares of Archrock by 1.4% during the 1st quarter. Chicago Partners Investment Group LLC now owns 38,161 shares of the energy company's stock worth $1,001,000 after buying an additional 521 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Archrock by 6.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,757 shares of the energy company's stock worth $387,000 after buying an additional 869 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Archrock during the 1st quarter worth about $462,000. US Bancorp DE increased its position in Archrock by 60.0% during the first quarter. US Bancorp DE now owns 13,743 shares of the energy company's stock worth $361,000 after acquiring an additional 5,153 shares during the period. Finally, Natixis Advisors LLC increased its position in Archrock by 14.0% during the first quarter. Natixis Advisors LLC now owns 1,036,020 shares of the energy company's stock worth $27,185,000 after acquiring an additional 127,017 shares during the period. Institutional investors and hedge funds own 95.45% of the company's stock.

Archrock Price Performance

AROC stock traded down $0.16 during midday trading on Friday, hitting $23.77. The company's stock had a trading volume of 1,313,270 shares, compared to its average volume of 1,423,770. The company has a quick ratio of 1.30, a current ratio of 1.81 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 1.24 and a beta of 1.10. Archrock, Inc. has a 12 month low of $18.38 and a 12 month high of $30.44. The company has a 50 day moving average of $23.97 and a two-hundred day moving average of $24.92.

Archrock (NYSE:AROC - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The energy company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.37 by $0.02. The company had revenue of $383.15 million for the quarter, compared to the consensus estimate of $366.34 million. Archrock had a net margin of 17.17% and a return on equity of 18.74%. The firm's revenue was up 41.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 EPS. On average, analysts expect that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock announced that its Board of Directors has authorized a stock buyback program on Monday, May 5th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the energy company to repurchase up to 1.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its shares are undervalued.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, August 5th. This is a boost from Archrock's previous quarterly dividend of $0.19. Archrock's payout ratio is presently 63.64%.

Insider Buying and Selling

In other news, SVP Eric W. Thode sold 10,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $23.54, for a total transaction of $235,400.00. Following the transaction, the senior vice president owned 224,809 shares of the company's stock, valued at approximately $5,292,003.86. The trade was a 4.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AROC shares. Evercore ISI decreased their target price on shares of Archrock from $32.00 to $31.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Sidoti upgraded shares of Archrock to a "hold" rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $28.40.

About Archrock

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.