Deerfield Management Company L.P. Series C Invests $1.21 Million in Archrock, Inc. (NYSE:AROC)

Deerfield Management Company L.P. Series C purchased a new stake in Archrock, Inc. (NYSE:AROC) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 60,016 shares of the energy company’s stock, valued at approximately $1,214,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Archrock in the first quarter valued at approximately $43,000. CWM LLC lifted its holdings in Archrock by 382.0% in the 2nd quarter. CWM LLC now owns 3,591 shares of the energy company’s stock valued at $73,000 after purchasing an additional 2,846 shares in the last quarter. GAMMA Investing LLC boosted its stake in Archrock by 16.6% during the 2nd quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock worth $82,000 after purchasing an additional 578 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Archrock during the second quarter worth $101,000. Finally, Russell Investments Group Ltd. raised its position in shares of Archrock by 70.6% in the first quarter. Russell Investments Group Ltd. now owns 5,946 shares of the energy company’s stock valued at $117,000 after buying an additional 2,461 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AROC shares. Evercore ISI began coverage on shares of Archrock in a research report on Wednesday. They set an “outperform” rating and a $24.00 price target on the stock. Stifel Nicolaus increased their price target on Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. started coverage on Archrock in a research note on Friday, September 6th. They set an “overweight” rating and a $24.00 price objective on the stock. StockNews.com downgraded Archrock from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $22.00 price target on shares of Archrock in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

Archrock Stock Down 0.5 %

Archrock stock opened at $20.91 on Thursday. The company has a market capitalization of $3.53 billion, a PE ratio of 25.19 and a beta of 1.51. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.94 and a current ratio of 1.53. Archrock, Inc. has a fifty-two week low of $11.73 and a fifty-two week high of $23.44. The firm has a 50 day moving average price of $20.02 and a 200 day moving average price of $19.93.

Archrock (NYSE:AROC) last posted its earnings results on Tuesday, July 30th. The energy company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. The firm had revenue of $270.53 million for the quarter, compared to analyst estimates of $270.61 million. Archrock had a return on equity of 16.35% and a net margin of 13.20%. Research analysts expect that Archrock, Inc. will post 1.07 earnings per share for the current year.

Archrock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 3.16%. The ex-dividend date was Tuesday, August 6th. Archrock’s payout ratio is currently 79.52%.

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.