KBC Group NV Increases Stake in Archrock, Inc. (NYSE:AROC)

KBC Group NV raised its holdings in shares of Archrock, Inc. (NYSE:AROC) by 13.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,030 shares of the energy company’s stock after buying an additional 937 shares during the period. KBC Group NV’s holdings in Archrock were worth $211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its position in shares of Archrock by 164.8% during the first quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company’s stock worth $26,000 after acquiring an additional 600 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Archrock during the first quarter valued at $33,000. Covestor Ltd lifted its position in Archrock by 580.6% during the fourth quarter. Covestor Ltd now owns 4,485 shares of the energy company’s stock valued at $111,000 after purchasing an additional 3,826 shares during the last quarter. Park Square Financial Group LLC bought a new stake in shares of Archrock in the 4th quarter worth about $126,000. Finally, Focus Partners Wealth bought a new stake in shares of Archrock in the 4th quarter worth about $209,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AROC. Citigroup raised their price target 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. Sidoti upgraded shares of Archrock to a “hold” rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.67.

Archrock Stock Down 0.5%

AROC stock opened at $24.59 on Monday. 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, Inc. has a 52 week low of $17.27 and a 52 week high of $30.44. The firm has a 50 day moving average of $24.89 and a 200 day moving average of $25.60. The stock has a market capitalization of $4.35 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 1.33 and a beta of 1.08.

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. The business 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%. Sell-side analysts forecast that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Tuesday, May 6th. Archrock’s payout ratio is presently 64.41%.

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

Insider Buying and Selling

In related news, SVP Jason Ingersoll sold 42,036 shares of the business’s 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 sale, the senior vice president owned 275,911 shares of the company’s stock, valued at approximately $6,757,060.39. The trade was a 13.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.60% of the company’s stock.

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.