Millennium Management LLC Acquires 882,024 Shares of Archrock, Inc. (NYSE:AROC)

Millennium Management LLC boosted its holdings in shares of Archrock, Inc. (NYSE:AROC) by 60.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,343,652 shares of the energy company’s stock after acquiring an additional 882,024 shares during the period. Millennium Management LLC owned 1.50% of Archrock worth $47,389,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. UniSuper Management Pty Ltd purchased a new position in shares of Archrock in the 1st quarter worth about $852,000. Sei Investments Co. lifted its stake in shares of Archrock by 37.7% in the fourth quarter. Sei Investments Co. now owns 5,113,865 shares of the energy company’s stock worth $78,753,000 after buying an additional 1,399,309 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Archrock by 302.9% during the fourth quarter. Allianz Asset Management GmbH now owns 912,784 shares of the energy company’s stock valued at $14,057,000 after buying an additional 686,242 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Archrock by 18.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,270,818 shares of the energy company’s stock valued at $24,997,000 after acquiring an additional 195,549 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Archrock by 77.2% in the 1st quarter. BNP Paribas Financial Markets now owns 69,992 shares of the energy company’s stock worth $1,377,000 after acquiring an additional 30,493 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.

Archrock Trading Down 0.7 %

Archrock stock opened at $20.24 on Tuesday. Archrock, Inc. has a 52-week low of $11.73 and a 52-week high of $23.44. The company has a market cap of $3.16 billion, a P/E ratio of 24.39 and a beta of 1.51. The company has a quick ratio of 0.94, a current ratio of 1.53 and a debt-to-equity ratio of 1.80. The business has a 50-day simple moving average of $19.92 and a two-hundred day simple moving average of $19.97.

Archrock (NYSE:AROC) last announced its earnings results on Tuesday, July 30th. The energy company reported $0.25 earnings per share (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 company had revenue of $270.53 million during the quarter, compared to analyst estimates of $270.61 million. Analysts predict that Archrock, Inc. will post 1.07 EPS for the current year.

Archrock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were paid a $0.165 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.66 annualized dividend and a dividend yield of 3.26%. Archrock’s dividend payout ratio (DPR) is 79.52%.

Wall Street Analyst Weigh In

Several brokerages have commented on AROC. JPMorgan Chase & Co. began coverage on Archrock in a research note on Friday, September 6th. They set an “overweight” rating and a $24.00 target price on the stock. Evercore ISI initiated coverage on Archrock in a report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $22.00 target price on shares of Archrock in a research note on Wednesday, August 7th. StockNews.com lowered shares of Archrock from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Finally, Stifel Nicolaus boosted their price objective on shares of Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.33.

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.