HWG Holdings LP Purchases 85,121 Shares of Archrock, Inc. (NYSE:AROC)

HWG Holdings LP raised its position in shares of Archrock, Inc. (NYSE:AROC) by 42.3% in the first quarter, HoldingsChannel reports. The fund owned 286,139 shares of the energy company’s stock after acquiring an additional 85,121 shares during the period. Archrock accounts for approximately 3.3% of HWG Holdings LP’s investment portfolio, making the stock its 12th largest holding. HWG Holdings LP’s holdings in Archrock were worth $7,508,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Archrock by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 21,571,800 shares of the energy company’s stock worth $536,922,000 after acquiring an additional 508,214 shares during the period. Earnest Partners LLC boosted its holdings in shares of Archrock by 0.4% during the fourth quarter. Earnest Partners LLC now owns 13,074,904 shares of the energy company’s stock worth $325,434,000 after acquiring an additional 47,563 shares during the period. Invesco Ltd. boosted its holdings in shares of Archrock by 12.8% during the fourth quarter. Invesco Ltd. now owns 8,883,949 shares of the energy company’s stock worth $221,121,000 after acquiring an additional 1,008,438 shares during the period. Sei Investments Co. boosted its holdings in shares of Archrock by 8.3% during the fourth quarter. Sei Investments Co. now owns 5,354,764 shares of the energy company’s stock worth $133,280,000 after acquiring an additional 411,286 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Archrock by 10.0% in the fourth quarter. American Century Companies Inc. now owns 4,927,024 shares of the energy company’s stock valued at $122,634,000 after buying an additional 448,410 shares during the period. Institutional investors own 95.45% of the company’s stock.

Archrock Stock Down 0.1%

Shares of AROC opened at $24.94 on Monday. Archrock, Inc. has a one year low of $17.27 and a one year high of $30.44. The company has a market cap of $4.41 billion, a P/E ratio of 21.13, a P/E/G ratio of 1.28 and a beta of 1.11. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.47 and a quick ratio of 0.96. The firm has a 50 day simple moving average of $24.67 and a two-hundred day simple moving average of $25.65.

Archrock (NYSE:AROC) last announced its quarterly earnings data on Monday, May 5th. The energy company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.39 by $0.03. Archrock had a net margin of 16.38% and a return on equity of 18.31%. The business had revenue of $347.16 million during the quarter, compared to the consensus estimate of $342.98 million. Research analysts forecast that Archrock, Inc. will post 1.09 EPS for the current fiscal year.

Archrock announced that its Board of Directors has authorized a stock repurchase program on Monday, May 5th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the energy company to reacquire up to 1.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Archrock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.76 annualized dividend and a dividend yield of 3.05%. Archrock’s dividend payout ratio (DPR) is presently 64.41%.

Insider Transactions at Archrock

In other news, SVP Jason Ingersoll sold 42,036 shares of the company’s stock in a transaction on Friday, May 9th. The shares were 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 now directly owns 275,911 shares in the company, valued at approximately $6,757,060.39. This represents a 13.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

AROC has been the subject of several recent research reports. Citigroup boosted their price target on Archrock from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. Sidoti upgraded Archrock to a “hold” rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus 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.