Wakefield Asset Management LLLP purchased a new position in Archrock, Inc. (NYSE:AROC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 42,527 shares of the energy company's stock, valued at approximately $1,116,000.
Other large investors have also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky raised its position in shares of Archrock by 34.4% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 55,528 shares of the energy company's stock worth $1,457,000 after acquiring an additional 14,200 shares in the last quarter. KBC Group NV raised its position in shares of Archrock by 13.2% in the 1st quarter. KBC Group NV now owns 8,030 shares of the energy company's stock worth $211,000 after acquiring an additional 937 shares in the last quarter. GAMMA Investing LLC increased its position in Archrock by 26.7% during the 1st quarter. GAMMA Investing LLC now owns 9,098 shares of the energy company's stock valued at $239,000 after buying an additional 1,917 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Archrock by 53.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 27,402 shares of the energy company's stock valued at $725,000 after purchasing an additional 9,594 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in Archrock during the 4th quarter valued at about $242,000. 95.45% of the stock is owned by institutional investors.
Insider Activity at Archrock
In other Archrock 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 transaction of $1,029,461.64. Following the completion of the transaction, the senior vice president owned 275,911 shares of the company's stock, valued at $6,757,060.39. This represents a 13.22% decrease in their ownership of the stock. 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 owned by insiders.
Analyst Upgrades and Downgrades
Separately, Sidoti upgraded Archrock to a "hold" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.00.
Check Out Our Latest Stock Analysis on Archrock
Archrock Price Performance
AROC stock traded down $0.06 during mid-day trading on Friday, reaching $23.32. 1,280,017 shares of the company's stock were exchanged, compared to its average volume of 1,465,374. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 1.26 and a beta of 1.08. The stock's 50 day moving average is $24.51 and its 200 day moving average is $25.42. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.47 and a quick ratio of 0.96. Archrock, Inc. has a 12-month low of $17.26 and a 12-month high of $30.44.
Archrock (NYSE:AROC - Get Free Report) last issued 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. Archrock had a return on equity of 18.31% and a net margin of 16.38%. The company had revenue of $347.16 million for the quarter, compared to the consensus estimate of $342.98 million. On average, research analysts expect that Archrock, Inc. will post 1.09 EPS for the current year.
Archrock declared that its Board of Directors has approved a share repurchase plan on Monday, May 5th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the energy company to buy up to 1.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.
Archrock Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th will be issued a dividend of $0.21 per share. The ex-dividend date is Tuesday, August 5th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.60%. This is a boost from Archrock's previous quarterly dividend of $0.19. Archrock's dividend payout ratio is presently 64.41%.
Archrock Profile
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Free Report)
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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