Edgestream Partners L.P. Increases Stock Holdings in Archrock, Inc. (NYSE:AROC)

Edgestream Partners L.P. boosted its position in shares of Archrock, Inc. (NYSE:AROC) by 155.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 331,275 shares of the energy company’s stock after acquiring an additional 201,618 shares during the quarter. Edgestream Partners L.P.’s holdings in Archrock were worth $8,693,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Summit Investment Advisors Inc. boosted its holdings in Archrock by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 17,459 shares of the energy company’s stock valued at $435,000 after acquiring an additional 553 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Archrock by 4.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,761 shares of the energy company’s stock valued at $335,000 after buying an additional 574 shares during the period. Ballentine Partners LLC boosted its stake in shares of Archrock by 6.0% in the 1st quarter. Ballentine Partners LLC now owns 10,133 shares of the energy company’s stock valued at $266,000 after buying an additional 575 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Archrock by 164.8% in the 1st quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company’s stock valued at $26,000 after buying an additional 600 shares during the period. Finally, New York State Teachers Retirement System boosted its stake in shares of Archrock by 0.4% in the 1st quarter. New York State Teachers Retirement System now owns 146,819 shares of the energy company’s stock valued at $3,853,000 after buying an additional 600 shares during the period. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Archrock Stock Up 0.1%

AROC opened at $23.33 on Monday. The business’s fifty day moving average is $24.84 and its two-hundred day moving average is $25.56. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.96 and a current ratio of 1.47. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.26 and a beta of 1.08. Archrock, Inc. has a one year low of $17.27 and a one year high of $30.44.

Archrock (NYSE:AROC) last posted its earnings results on Monday, May 5th. The energy company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. The company had revenue of $347.16 million for the quarter, compared to the consensus estimate of $342.98 million. Archrock had a return on equity of 18.31% and a net margin of 16.38%. Analysts anticipate that Archrock, Inc. will post 1.09 EPS for the current fiscal year.

Archrock announced that its board has approved a share 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 purchase up to 1.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Archrock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.76 dividend on an annualized basis and a yield of 3.26%. Archrock’s payout ratio is 64.41%.

Insider Buying and Selling

In other Archrock news, SVP Jason Ingersoll sold 42,036 shares of the business’s stock in a transaction 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Sidoti upgraded Archrock to a “hold” rating in a research note on Wednesday, May 7th. Citigroup lifted their price objective on Archrock from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.