Archrock, Inc. (NYSE:AROC) Position Raised by Millennium Management LLC

Millennium Management LLC boosted its position in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 186.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,047,346 shares of the energy company's stock after buying an additional 681,160 shares during the quarter. Millennium Management LLC owned 0.60% of Archrock worth $26,068,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Wolverine Asset Management LLC lifted its stake in Archrock by 111.8% in the 4th quarter. Wolverine Asset Management LLC now owns 1,504 shares of the energy company's stock worth $37,000 after acquiring an additional 14,200 shares in the last quarter. Montag A & Associates Inc. purchased a new stake in Archrock in the 4th quarter worth about $55,000. R Squared Ltd purchased a new stake in Archrock in the 4th quarter worth about $76,000. Hantz Financial Services Inc. purchased a new stake in Archrock in the 4th quarter worth about $107,000. Finally, Covestor Ltd lifted its stake in Archrock by 580.6% in the 4th quarter. Covestor Ltd now owns 4,485 shares of the energy company's stock worth $111,000 after acquiring an additional 3,826 shares in the last quarter. Institutional investors own 95.45% of the company's stock.

Insiders Place Their Bets

In related news, SVP Jason Ingersoll sold 42,036 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $24.49, for a total transaction of $1,029,461.64. Following the transaction, the senior vice president now directly owns 275,911 shares in the company, valued at approximately $6,757,060.39. This represents a 13.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by insiders.

Archrock Price Performance

AROC traded up $0.32 during trading on Friday, reaching $24.80. The stock had a trading volume of 931,342 shares, compared to its average volume of 1,437,244. The business has a 50-day moving average of $24.52 and a 200-day moving average of $25.59. Archrock, Inc. has a one year low of $17.27 and a one year high of $30.44. The stock has a market cap of $4.38 billion, a PE ratio of 27.25, a PEG ratio of 1.60 and a beta of 1.19. 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 (NYSE:AROC - Get Free Report) last released its earnings results on Monday, May 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.03. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The firm had revenue of $347.16 million during the quarter, compared to analyst estimates of $342.98 million. As a group, equities research analysts anticipate that Archrock, Inc. will post 1.09 EPS for the current fiscal year.

Archrock declared that its Board of Directors has authorized a stock buyback program on Monday, May 5th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the energy company to repurchase up to 1.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its stock is undervalued.

Archrock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Tuesday, May 6th. Archrock's dividend payout ratio (DPR) is presently 64.41%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AROC. Sidoti raised Archrock to a "hold" rating in a research note on Wednesday, May 7th. Citigroup raised their price target on Archrock from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $26.67.

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.