Man Group plc Boosts Holdings in Archrock, Inc. (NYSE:AROC)

Man Group plc raised its holdings in Archrock, Inc. (NYSE:AROC - Free Report) by 7.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 274,846 shares of the energy company's stock after buying an additional 19,772 shares during the quarter. Man Group plc owned approximately 0.16% of Archrock worth $6,841,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Millennium Management LLC grew its holdings in Archrock by 186.0% in the 4th quarter. Millennium Management LLC now owns 1,047,346 shares of the energy company's stock valued at $26,068,000 after buying an additional 681,160 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Archrock by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,957,444 shares of the energy company's stock valued at $48,721,000 after buying an additional 75,684 shares during the period. Focus Partners Wealth purchased a new stake in Archrock in the 4th quarter valued at about $209,000. Deutsche Bank AG grew its holdings in Archrock by 33.0% in the 4th quarter. Deutsche Bank AG now owns 233,220 shares of the energy company's stock valued at $5,805,000 after buying an additional 57,873 shares during the period. Finally, Bridgeway Capital Management LLC grew its holdings in Archrock by 4.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 76,790 shares of the energy company's stock valued at $1,911,000 after buying an additional 3,255 shares during the period. Hedge funds and other institutional investors own 95.45% of the company's stock.

Insiders Place Their Bets

In other Archrock news, SVP Jason Ingersoll sold 42,036 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $24.49, for a total value of $1,029,461.64. Following the completion of the transaction, the senior vice president now owns 275,911 shares in the company, valued at $6,757,060.39. This represents a 13.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on AROC. Citigroup lifted their price target on Archrock from $32.00 to $33.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. Sidoti upgraded Archrock to a "hold" rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $26.67.

Archrock Stock Down 0.6%

Shares of NYSE:AROC opened at $25.30 on Tuesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. Archrock, Inc. has a 1 year low of $17.27 and a 1 year high of $30.44. The stock has a market capitalization of $4.47 billion, a P/E ratio of 27.80, a PEG ratio of 1.60 and a beta of 1.19. The stock has a 50-day simple moving average of $24.54 and a 200-day simple moving average of $25.49.

Archrock (NYSE:AROC - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The energy company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.03. The firm had revenue of $347.16 million during the quarter, compared to analysts' expectations of $342.98 million. Archrock had a return on equity of 16.24% and a net margin of 13.34%. Equities analysts forecast that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock declared that its Board of Directors has initiated a share buyback plan on Monday, May 5th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the energy company to repurchase up to 1.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Archrock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Tuesday, May 6th. Archrock's dividend payout ratio is presently 64.41%.

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.

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