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 boosted its stake in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 247.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 317,279 shares of the energy company's stock after buying 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 filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its holdings in shares of Archrock by 164.8% in the 1st quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company's stock valued at $26,000 after purchasing an additional 600 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Archrock in the 1st quarter valued at $33,000. Montag A & Associates Inc. boosted its holdings in shares of Archrock by 57.3% in the 1st quarter. Montag A & Associates Inc. now owns 3,474 shares of the energy company's stock valued at $91,000 after purchasing an additional 1,265 shares during the last quarter. Nkcfo LLC acquired a new position in shares of Archrock in the 1st quarter valued at $105,000. Finally, Covestor Ltd boosted its holdings in shares of Archrock by 580.6% in the 4th quarter. Covestor Ltd now owns 4,485 shares of the energy company's stock valued at $111,000 after purchasing an additional 3,826 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Archrock

In related news, SVP Jason Ingersoll sold 42,036 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $24.49, for a total value of $1,029,461.64. Following the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.60% of the company's stock.

Archrock Stock Performance

Shares of NYSE AROC traded down $0.92 during midday trading on Friday, hitting $22.44. The company's stock had a trading volume of 1,764,397 shares, compared to its average volume of 1,483,746. Archrock, Inc. has a 1-year low of $17.26 and a 1-year high of $30.44. The firm's fifty day moving average price is $24.34 and its 200-day moving average price is $25.28. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.96 and a current ratio of 1.47. The firm has a market cap of $3.97 billion, a P/E ratio of 19.02, a P/E/G ratio of 1.22 and a beta of 1.10.

Archrock (NYSE:AROC - Get Free Report) last posted its earnings results 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. The firm had revenue of $347.16 million during the quarter, compared to analyst estimates of $342.98 million. Archrock had a net margin of 16.38% and a return on equity of 18.31%. On average, sell-side analysts forecast that Archrock, Inc. will post 1.09 EPS for the current fiscal year.

Archrock announced that its board has initiated a share buyback 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 reacquire up to 1.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th will be given a dividend of $0.21 per share. This is a positive change from Archrock's previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, August 5th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.7%. Archrock's payout ratio is presently 64.41%.

Wall Street Analysts Forecast Growth

Separately, Sidoti raised 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 issued a buy rating to the stock. According to data from MarketBeat.com, Archrock currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.00.

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.