Walleye Capital LLC Grows Stake in Archrock, Inc. $AROC

Key Points

• Walleye Capital LLC significantly increased its holdings in Archrock, Inc. by 371.5% in the first quarter, now owning 97,966 shares worth approximately $2.57 million.
• Analysts have rated Archrock as a "Moderate Buy", with five analysts recommending a Buy and a target price of $28.40.
• Archrock recently declared a quarterly dividend of $0.21, up from $0.19, indicating a 3.4% yield and a payout ratio of 63.64%.

Walleye Capital LLC boosted its stake in Archrock, Inc. (NYSE:AROC - Free Report) by 371.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,966 shares of the energy company's stock after acquiring an additional 77,188 shares during the period. Walleye Capital LLC owned 0.06% of Archrock worth $2,571,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky increased its position in shares of Archrock by 34.4% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 55,528 shares of the energy company's stock valued at $1,457,000 after acquiring an additional 14,200 shares in the last quarter. KBC Group NV increased its position in shares of Archrock by 13.2% during the 1st quarter. KBC Group NV now owns 8,030 shares of the energy company's stock valued at $211,000 after purchasing an additional 937 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of 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 acquiring an additional 1,917 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of 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 acquiring an additional 9,594 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Archrock during the 1st quarter valued at approximately $522,000. Institutional investors own 95.45% of the company's stock.

Insider Activity at Archrock

In other Archrock news, SVP Eric W. Thode sold 10,000 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $23.54, for a total transaction of $235,400.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.60% of the company's stock.

Archrock Stock Down 0.3%

NYSE AROC traded down $0.07 during trading on Monday, hitting $24.76. The company's stock had a trading volume of 1,153,692 shares, compared to its average volume of 1,531,197. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.81 and a quick ratio of 1.30. The company has a market cap of $4.35 billion, a PE ratio of 18.75, a P/E/G ratio of 1.28 and a beta of 1.14. The business's 50 day simple moving average is $23.83 and its 200-day simple moving average is $24.57. Archrock, Inc. has a fifty-two week low of $18.38 and a fifty-two week high of $30.44.

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

Archrock declared that its board has initiated a stock buyback program 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 shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.

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 given a dividend of $0.21 per share. The ex-dividend date was Tuesday, August 5th. This is a positive change from Archrock's previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a dividend yield of 3.4%. Archrock's dividend payout ratio (DPR) is presently 63.64%.

Analyst Ratings Changes

Several research firms have weighed in on AROC. Mizuho upped their price target on Archrock from $31.00 to $32.00 and gave the stock an "outperform" rating in a research note on Friday. Evercore ISI decreased their price target on Archrock from $32.00 to $31.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Finally, Sidoti upgraded Archrock to a "hold" rating in a report on Wednesday, May 7th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Archrock presently has an average rating of "Moderate Buy" and a consensus target price of $30.00.

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.