Jennison Associates LLC Boosts Stock Position in Archrock, Inc. (NYSE:AROC)

Jennison Associates LLC grew its stake in Archrock, Inc. (NYSE:AROC - Free Report) by 56.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,303 shares of the energy company's stock after buying an additional 12,667 shares during the period. Jennison Associates LLC's holdings in Archrock were worth $926,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AROC. Commonwealth Equity Services LLC acquired a new stake in shares of Archrock in the fourth quarter valued at about $443,000. Envestnet Portfolio Solutions Inc. acquired a new stake in Archrock during the fourth quarter worth approximately $242,000. Corient Private Wealth LLC acquired a new stake in Archrock during the fourth quarter worth approximately $213,000. Cibc World Markets Corp bought a new position in Archrock in the fourth quarter worth approximately $389,000. Finally, Xponance Inc. boosted its holdings in Archrock by 18.5% in the fourth quarter. Xponance Inc. now owns 12,833 shares of the energy company's stock worth $319,000 after acquiring an additional 2,002 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company's stock.

Insider Buying and Selling

In related news, SVP Jason Ingersoll sold 42,036 shares of the business's stock in a transaction dated 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 completion of the transaction, the senior vice president directly owned 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by insiders.

Archrock Stock Performance

Shares of AROC traded up $0.26 during mid-day trading on Thursday, hitting $23.27. The stock had a trading volume of 753,617 shares, compared to its average volume of 1,392,377. The firm has a market cap of $4.11 billion, a P/E ratio of 19.76, a PEG ratio of 1.22 and a beta of 1.08. The business has a fifty day moving average price of $24.60 and a 200-day moving average price of $25.45. 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, Inc. has a 52 week low of $17.26 and a 52 week high of $30.44.

Archrock (NYSE:AROC - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.03. Archrock had a return on equity of 18.31% and a net margin of 16.38%. The company had revenue of $347.16 million for the quarter, compared to analyst estimates of $342.98 million. On average, equities research analysts expect that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock declared that its board has initiated a share repurchase program on Monday, May 5th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the energy company to repurchase up to 1.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Separately, Sidoti upgraded Archrock to a "hold" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $26.67.

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.