Mackenzie Financial Corp Boosts Stake in Archrock, Inc. (NYSE:AROC)

Mackenzie Financial Corp increased its position in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 112.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 91,250 shares of the energy company's stock after acquiring an additional 48,324 shares during the period. Mackenzie Financial Corp owned approximately 0.05% of Archrock worth $2,271,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Archrock by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 21,571,800 shares of the energy company's stock valued at $536,922,000 after buying an additional 508,214 shares during the period. Earnest Partners LLC boosted its position in shares of Archrock by 0.4% during the 4th quarter. Earnest Partners LLC now owns 13,074,904 shares of the energy company's stock valued at $325,434,000 after acquiring an additional 47,563 shares during the last quarter. Invesco Ltd. increased its position in shares of Archrock by 12.8% in the fourth quarter. Invesco Ltd. now owns 8,883,949 shares of the energy company's stock worth $221,121,000 after purchasing an additional 1,008,438 shares during the last quarter. Sei Investments Co. raised its stake in Archrock by 8.3% in the fourth quarter. Sei Investments Co. now owns 5,354,764 shares of the energy company's stock valued at $133,280,000 after purchasing an additional 411,286 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Archrock by 10.0% during the fourth quarter. American Century Companies Inc. now owns 4,927,024 shares of the energy company's stock valued at $122,634,000 after purchasing an additional 448,410 shares during the last quarter. 95.45% of the stock is owned by institutional investors.

Insider Activity at Archrock

In related news, SVP Jason Ingersoll sold 42,036 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 275,911 shares in the company, valued at $6,757,060.39. This trade represents a 13.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AROC shares. Sidoti raised shares of Archrock to a "hold" rating in a report on Wednesday, May 7th. Citigroup increased their target price on Archrock from $32.00 to $33.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $26.67.

Archrock Trading Down 2.5%

Shares of Archrock stock traded down $0.65 on Wednesday, hitting $25.22. The stock had a trading volume of 1,001,504 shares, compared to its average volume of 1,423,420. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. Archrock, Inc. has a one year low of $17.27 and a one year high of $30.44. The stock's 50-day simple moving average is $24.27 and its two-hundred day simple moving average is $25.66. The stock has a market cap of $4.46 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 1.60 and a beta of 1.19.

Archrock (NYSE:AROC - Get Free Report) last announced 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. The business had revenue of $347.16 million for the quarter, compared to analyst estimates of $342.98 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. As a group, sell-side analysts predict that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock declared that its Board of Directors has authorized a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Archrock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.01%. Archrock's dividend payout ratio is currently 64.41%.

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.