Kayne Anderson Capital Advisors LP Raises Stock Position in Archrock, Inc. (NYSE:AROC)

Kayne Anderson Capital Advisors LP raised its stake in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,647,222 shares of the energy company's stock after purchasing an additional 32,958 shares during the quarter. Archrock accounts for about 1.0% of Kayne Anderson Capital Advisors LP's holdings, making the stock its 20th biggest holding. Kayne Anderson Capital Advisors LP owned approximately 0.94% of Archrock worth $43,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in shares of Archrock in the 4th quarter worth about $36,241,000. Invesco Ltd. lifted its stake in Archrock by 12.8% during the 4th quarter. Invesco Ltd. now owns 8,883,949 shares of the energy company's stock valued at $221,121,000 after acquiring an additional 1,008,438 shares during the period. Clearbridge Investments LLC bought a new position in Archrock during the 4th quarter valued at about $17,247,000. Millennium Management LLC lifted its stake in Archrock by 186.0% during the 4th quarter. Millennium Management LLC now owns 1,047,346 shares of the energy company's stock valued at $26,068,000 after acquiring an additional 681,160 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Archrock by 135.1% during the 4th quarter. JPMorgan Chase & Co. now owns 993,063 shares of the energy company's stock valued at $24,717,000 after acquiring an additional 570,680 shares during the period. 95.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Archrock Trading Down 0.3%

Shares of AROC opened at $23.18 on Monday. 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 1 year low of $17.27 and a 1 year high of $30.44. The company has a 50 day simple moving average of $24.76 and a two-hundred day simple moving average of $25.51. The firm has a market cap of $4.10 billion, a P/E ratio of 19.82, a price-to-earnings-growth ratio of 1.26 and a beta of 1.08.

Archrock (NYSE:AROC - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $342.98 million. On average, equities analysts expect that Archrock, Inc. will post 1.09 earnings per share for the current fiscal year.

Archrock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.28%. The ex-dividend date was Tuesday, May 6th. Archrock's payout ratio is 64.41%.

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

Insider Buying and Selling

In other 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 completion of the transaction, the senior vice president directly owned 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company's stock.

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.

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