Mackenzie Financial Corp Acquires 226,029 Shares of Archrock, Inc. (NYSE:AROC)

Key Points

• Mackenzie Financial Corp increased its holdings in Archrock, Inc. by 247.7%, owning 317,279 shares worth approximately $8.3 million following the acquisition of an additional 226,029 shares.
• Archrock's quarterly earnings reported an EPS of $0.42, surpassing analysts' expectations of $0.39, with revenues totaling $347.16 million.
• The company announced an increase in its quarterly dividend to $0.21 per share, with a dividend yield of 3.6%, and authorized a $50 million share buyback program.

Mackenzie Financial Corp increased its position in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 247.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 317,279 shares of the energy company's stock after acquiring an additional 226,029 shares during the quarter. Mackenzie Financial Corp owned 0.18% of Archrock worth $8,325,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AROC. Commonwealth Equity Services LLC bought a new position in Archrock during the fourth quarter valued at approximately $443,000. LPL Financial LLC lifted its position in shares of Archrock by 7.6% in the fourth quarter. LPL Financial LLC now owns 124,105 shares of the energy company's stock worth $3,089,000 after buying an additional 8,807 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Archrock by 135.1% in 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 in the last quarter. Norges Bank acquired a new stake in Archrock in the 4th quarter worth approximately $13,383,000. Finally, New Age Alpha Advisors LLC acquired a new position in Archrock during the fourth quarter valued at approximately $242,000. Hedge funds and other institutional investors own 95.45% of the company's stock.

Analyst Ratings Changes

Separately, Sidoti raised shares of Archrock to a "hold" rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $27.00.

Archrock Stock Performance

Shares of NYSE AROC traded down $0.57 during trading hours on Tuesday, reaching $22.03. The stock had a trading volume of 1,873,682 shares, compared to its average volume of 1,411,835. The company has a market cap of $3.90 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 1.22 and a beta of 1.10. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.47 and a quick ratio of 0.96. The business's fifty day moving average is $24.30 and its two-hundred day moving average is $25.20. Archrock, Inc. has a twelve month low of $17.60 and a twelve month high of $30.44.

Archrock (NYSE:AROC - Get Free Report) last released its earnings results on Monday, August 4th. The energy company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 16.38% and a return on equity of 18.31%. The company's revenue was up 41.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 EPS. As a group, research analysts expect that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th will be paid a $0.21 dividend. This is a boost from Archrock's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.8%. Archrock's dividend payout ratio (DPR) is currently 64.41%.

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

Insider Activity at Archrock

In other Archrock 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 value of $1,029,461.64. Following the completion of the transaction, the senior vice president directly owned 275,911 shares of the company's stock, valued at approximately $6,757,060.39. The trade was a 13.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is currently owned by company insiders.

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.