Renaissance Technologies LLC Reduces Position in Archrock, Inc. (NYSE:AROC)

Renaissance Technologies LLC reduced its stake in Archrock, Inc. (NYSE:AROC) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 437,328 shares of the energy company’s stock after selling 6,300 shares during the quarter. Renaissance Technologies LLC’s holdings in Archrock were worth $8,843,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Archrock by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company’s stock valued at $360,385,000 after purchasing an additional 849,750 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of Archrock by 2.6% during the first quarter. Earnest Partners LLC now owns 14,007,955 shares of the energy company’s stock valued at $275,536,000 after buying an additional 351,391 shares during the period. Blackstone Inc. boosted its position in Archrock by 4,211.9% during the fourth quarter. Blackstone Inc. now owns 5,903,142 shares of the energy company’s stock worth $90,908,000 after acquiring an additional 5,766,237 shares during the last quarter. Sei Investments Co. grew its stake in Archrock by 5.8% in the 1st quarter. Sei Investments Co. now owns 5,409,863 shares of the energy company’s stock worth $106,412,000 after acquiring an additional 295,998 shares during the period. Finally, American Century Companies Inc. raised its holdings in Archrock by 20.5% in the 2nd quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company’s stock valued at $80,036,000 after acquiring an additional 672,663 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Archrock Stock Performance

Shares of NYSE:AROC opened at $21.02 on Wednesday. The business has a 50-day moving average of $20.06 and a two-hundred day moving average of $19.93. The firm has a market capitalization of $3.28 billion, a PE ratio of 25.32 and a beta of 1.51. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.53 and a quick ratio of 0.94. Archrock, Inc. has a 12 month low of $11.73 and a 12 month high of $23.44.

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

Archrock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.66 dividend on an annualized basis and a yield of 3.14%. Archrock’s dividend payout ratio (DPR) is 79.52%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AROC shares. JPMorgan Chase & Co. began coverage on Archrock in a report on Friday, September 6th. They set an “overweight” rating and a $24.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $22.00 price target on shares of Archrock in a report on Wednesday, August 7th. Stifel Nicolaus increased their price objective on shares of Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, StockNews.com downgraded shares of Archrock from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

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.