Archrock, Inc. (NYSE:AROC) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp raised its position in Archrock, Inc. (NYSE:AROC) by 112.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,250 shares of the energy company’s stock after acquiring an additional 48,324 shares during the period. Mackenzie Financial Corp’s holdings in Archrock were worth $2,271,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Wolverine Asset Management LLC lifted its stake in shares of Archrock by 111.8% during the fourth quarter. Wolverine Asset Management LLC now owns 1,504 shares of the energy company’s stock worth $37,000 after buying an additional 14,200 shares during the period. Montag A & Associates Inc. acquired a new stake in shares of Archrock during the fourth quarter worth $55,000. R Squared Ltd acquired a new stake in shares of Archrock during the fourth quarter worth $76,000. Hantz Financial Services Inc. acquired a new stake in shares of Archrock during the fourth quarter worth $107,000. Finally, Covestor Ltd lifted its stake in shares of Archrock by 580.6% during the fourth quarter. Covestor Ltd now owns 4,485 shares of the energy company’s stock worth $111,000 after buying an additional 3,826 shares during the period. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Archrock news, SVP Jason Ingersoll sold 42,036 shares of Archrock stock in a transaction on Friday, May 9th. The shares were sold at an average price of $24.49, for a total value of $1,029,461.64. Following the completion of the transaction, the senior vice president now owns 275,911 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.60% of the company’s stock.

Archrock Trading Down 0.7%

Shares of Archrock stock opened at $24.89 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82. The firm has a fifty day moving average price of $24.34 and a 200 day moving average price of $25.61. Archrock, Inc. has a 1 year low of $17.27 and a 1 year high of $30.44. The stock has a market cap of $4.40 billion, a PE ratio of 27.35, a price-to-earnings-growth ratio of 1.60 and a beta of 1.19.

Archrock (NYSE:AROC) last issued its earnings results on Monday, May 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.03. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The firm had revenue of $347.16 million during the quarter, compared to analysts’ expectations of $342.98 million. Equities research analysts predict that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock declared that its board has authorized a share repurchase plan on Monday, May 5th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the energy company to buy up to 1.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Archrock Announces Dividend

The business 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 annualized dividend and a yield of 3.05%. Archrock’s dividend payout ratio is presently 64.41%.

Analysts Set New Price Targets

AROC has been the subject of several research reports. Sidoti upgraded shares of Archrock to a “hold” rating in a research note on Wednesday, May 7th. Citigroup lifted their price objective on shares of Archrock from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.67.

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.