Millennium Management LLC Has $29.11 Million Stock Position in Archrock, Inc. $AROC

Millennium Management LLC grew its position in shares of Archrock, Inc. (NYSE:AROC) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,109,352 shares of the energy company’s stock after acquiring an additional 62,006 shares during the quarter. Millennium Management LLC’s holdings in Archrock were worth $29,109,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AROC. Nuveen LLC acquired a new position in Archrock during the 1st quarter worth approximately $43,092,000. Driehaus Capital Management LLC acquired a new position in Archrock during the 1st quarter worth approximately $25,374,000. Wellington Management Group LLP acquired a new position in Archrock during the 1st quarter worth approximately $12,359,000. American Century Companies Inc. boosted its position in Archrock by 9.4% during the 1st quarter. American Century Companies Inc. now owns 5,388,964 shares of the energy company’s stock worth $141,406,000 after acquiring an additional 461,940 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Archrock by 84.3% during the 1st quarter. Victory Capital Management Inc. now owns 919,982 shares of the energy company’s stock worth $24,140,000 after acquiring an additional 420,757 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Eric W. Thode sold 10,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $23.54, for a total value of $235,400.00. Following the sale, the senior vice president owned 224,809 shares in the company, valued at approximately $5,292,003.86. This represents a 4.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.60% of the company’s stock.

Archrock Stock Up 0.2%

AROC opened at $24.79 on Friday. Archrock, Inc. has a 1-year low of $18.97 and a 1-year high of $30.44. The stock’s fifty day simple moving average is $23.84 and its 200 day simple moving average is $24.46. The company has a current ratio of 1.81, a quick ratio of 1.30 and a debt-to-equity ratio of 1.86. The stock has a market cap of $4.36 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 1.28 and a beta of 1.14.

Archrock (NYSE:AROC) last posted its quarterly earnings results on Monday, August 4th. The energy company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. Archrock had a return on equity of 18.74% and a net margin of 17.17%.The business had revenue of $383.15 million for the quarter, compared to analysts’ expectations of $366.34 million. During the same quarter in the prior year, the business earned $0.23 EPS. The firm’s revenue for the quarter was up 41.6% on a year-over-year basis. As a group, research analysts expect that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were paid a $0.21 dividend. This is a boost from Archrock’s previous quarterly dividend of $0.19. The ex-dividend date was Tuesday, August 5th. This represents a $0.84 dividend on an annualized basis and a yield of 3.4%. Archrock’s dividend payout ratio (DPR) is currently 63.64%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AROC. Wells Fargo & Company began coverage on Archrock in a research note on Wednesday, September 3rd. They set an “overweight” rating and a $30.00 price objective on the stock. Evercore ISI dropped their price objective on Archrock from $32.00 to $31.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 6th. Finally, Mizuho upped their price objective on Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Archrock Company 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.