Viking Fund Management LLC Has $3.48 Million Holdings in Archrock, Inc. $AROC

Key Points

• Viking Fund Management LLC increased its stake in Archrock, Inc. by 180.0%, owning 140,000 shares worth approximately $3.48 million.
• Archrock reported a 41.6% increase in year-over-year revenue, totaling $383.15 million for the quarter, with earnings per share surpassing expectations.
• The company recently increased its quarterly dividend from $0.19 to $0.21, reflecting a dividend yield of 3.5%.

Viking Fund Management LLC increased its stake in Archrock, Inc. (NYSE:AROC - Free Report) by 180.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,000 shares of the energy company's stock after purchasing an additional 90,000 shares during the quarter. Viking Fund Management LLC owned 0.08% of Archrock worth $3,476,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its stake in 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 acquiring an additional 600 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Archrock in the first quarter worth approximately $33,000. Jones Financial Companies Lllp boosted its position in shares of Archrock by 217.9% in the first quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company's stock worth $35,000 after acquiring an additional 902 shares during the last quarter. TCTC Holdings LLC raised its holdings in Archrock by 119.6% in the first quarter. TCTC Holdings LLC now owns 1,599 shares of the energy company's stock valued at $42,000 after buying an additional 871 shares during the period. Finally, Bayforest Capital Ltd purchased a new stake in shares of Archrock during the first quarter valued at approximately $47,000. 95.45% of the stock is owned by institutional investors and hedge funds.

Archrock Stock Up 4.8%

Shares of AROC traded up $1.18 during trading hours on Tuesday, reaching $25.66. The company's stock had a trading volume of 500,693 shares, compared to its average volume of 1,440,478. The firm has a market cap of $4.51 billion, a price-to-earnings ratio of 19.39, a P/E/G ratio of 1.24 and a beta of 1.14. Archrock, Inc. has a 1-year low of $19.73 and a 1-year high of $30.44. The company has a quick ratio of 1.30, a current ratio of 1.81 and a debt-to-equity ratio of 1.86. The company has a 50 day moving average of $23.90 and a two-hundred day moving average of $24.37.

Archrock (NYSE:AROC - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The energy company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. The business had revenue of $383.15 million during the quarter, compared to analysts' expectations of $366.34 million. Archrock had a return on equity of 18.74% and a net margin of 17.17%.The firm's quarterly revenue was up 41.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.23 EPS. As a group, research analysts predict that Archrock, Inc. will post 1.09 EPS for the current fiscal year.

Archrock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, August 5th. This is a positive change from Archrock's previous quarterly dividend of $0.19. Archrock's dividend payout ratio (DPR) is presently 63.64%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AROC shares. Wells Fargo & Company began coverage on shares of Archrock in a report on Wednesday, September 3rd. They issued an "overweight" rating and a $30.00 price objective for the company. Evercore ISI reduced their price target on shares of Archrock from $32.00 to $31.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. Finally, Mizuho boosted their price target on shares of Archrock from $31.00 to $32.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $30.00.

Insider Buying and Selling

In other Archrock news, Director Jason C. Rebrook bought 10,000 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The stock was purchased at an average price of $24.17 per share, for a total transaction of $241,700.00. Following the purchase, the director directly owned 74,511 shares in the company, valued at $1,800,930.87. This trade represents a 15.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Eric W. Thode sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $23.54, for a total value of $235,400.00. Following the sale, the senior vice president owned 224,809 shares of the company's stock, valued at approximately $5,292,003.86. The trade was a 4.26% decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

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.