Victory Capital Management Inc. Boosts Holdings in Archrock, Inc. (NYSE:AROC)

Victory Capital Management Inc. increased its holdings in Archrock, Inc. (NYSE:AROC - Free Report) by 84.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 919,982 shares of the energy company's stock after buying an additional 420,757 shares during the quarter. Victory Capital Management Inc. owned 0.52% of Archrock worth $24,140,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its position in shares of Archrock by 164.8% during the first quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company's stock valued at $26,000 after buying an additional 600 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Archrock during the first quarter valued at approximately $33,000. Covestor Ltd raised its position in shares of Archrock by 580.6% during the fourth quarter. Covestor Ltd now owns 4,485 shares of the energy company's stock valued at $111,000 after buying an additional 3,826 shares during the last quarter. Park Square Financial Group LLC bought a new stake in shares of Archrock during the fourth quarter valued at approximately $126,000. Finally, KBC Group NV raised its position in shares of Archrock by 13.2% during the first quarter. KBC Group NV now owns 8,030 shares of the energy company's stock valued at $211,000 after buying an additional 937 shares during the last quarter. Institutional investors own 95.45% of the company's stock.

Archrock Stock Down 2.4%

NYSE AROC opened at $22.84 on Tuesday. Archrock, Inc. has a 52 week low of $17.27 and a 52 week high of $30.44. The company has a quick ratio of 0.96, a current ratio of 1.47 and a debt-to-equity ratio of 1.70. The business's fifty day simple moving average is $24.71 and its 200-day simple moving average is $25.48. The firm has a market cap of $4.04 billion, a PE ratio of 19.35, a P/E/G ratio of 1.26 and a beta of 1.08.

Archrock (NYSE:AROC - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.03. The firm had revenue of $347.16 million for 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%. As a group, equities analysts anticipate that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Tuesday, May 6th. Archrock's dividend payout ratio (DPR) is 64.41%.

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

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 six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $26.67.

Insider Transactions at Archrock

In other news, SVP Jason Ingersoll sold 42,036 shares of the stock in a transaction that occurred on 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 sale, the senior vice president directly owned 275,911 shares of the company's stock, valued at approximately $6,757,060.39. This represents a 13.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is 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.

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