Archrock, Inc. (NYSE:AROC) Stock Position Boosted by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC grew its stake in shares of Archrock, Inc. (NYSE:AROC) by 4.7% during the first quarter, Holdings Channel reports. The institutional investor owned 12,761 shares of the energy company’s stock after acquiring an additional 574 shares during the period. Janney Montgomery Scott LLC’s holdings in Archrock were worth $335,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Archrock in the fourth quarter worth approximately $36,241,000. Invesco Ltd. raised its stake in shares of Archrock by 12.8% in the 4th quarter. Invesco Ltd. now owns 8,883,949 shares of the energy company’s stock worth $221,121,000 after buying an additional 1,008,438 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in shares of Archrock in the fourth quarter valued at $17,247,000. Millennium Management LLC boosted its stake in Archrock by 186.0% during the fourth quarter. Millennium Management LLC now owns 1,047,346 shares of the energy company’s stock valued at $26,068,000 after buying an additional 681,160 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Archrock by 135.1% during the fourth quarter. JPMorgan Chase & Co. now owns 993,063 shares of the energy company’s stock valued at $24,717,000 after buying an additional 570,680 shares in the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Archrock

In other news, SVP Jason Ingersoll sold 42,036 shares of the business’s 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 sale, the senior vice president directly owned 275,911 shares in the company, valued at approximately $6,757,060.39. The trade was a 13.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Archrock Stock Performance

AROC stock opened at $24.59 on Friday. The firm has a 50 day moving average of $24.89 and a two-hundred day moving average of $25.57. Archrock, Inc. has a 12 month low of $17.27 and a 12 month high of $30.44. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of 20.84, a P/E/G ratio of 1.33 and a beta of 1.08. The company has a quick ratio of 0.96, a current ratio of 1.47 and a debt-to-equity ratio of 1.70.

Archrock (NYSE:AROC) last released its quarterly earnings results on Monday, May 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The company had revenue of $347.16 million during the quarter, compared to analysts’ expectations 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 EPS for the current fiscal year.

Archrock announced that its Board of Directors has approved a stock buyback plan on Monday, May 5th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the energy company to reacquire up to 1.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Archrock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 13th. Shareholders 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 3.09%. Archrock’s dividend payout ratio is currently 64.41%.

Wall Street Analysts Forecast Growth

AROC has been the topic of several research reports. Citigroup boosted their price target on shares of Archrock from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. Sidoti raised shares of Archrock to a “hold” rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Archrock has a consensus rating of “Moderate Buy” and a consensus price target of $26.67.

Archrock 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.