Archrock, Inc. $AROC Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Archrock, Inc. by 17.1%, purchasing an additional 334,858 shares and now owning about 1.30% of the company, valued at approximately $60.15 million.
• Archrock reported $0.39 earnings per share for its latest quarter, surpassing estimates and marking a 41.6% year-over-year revenue increase.
• The company recently declared an increased quarterly dividend of $0.21, representing a dividend yield of 3.3% and a payout ratio of 63.64%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 17.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,292,302 shares of the energy company's stock after purchasing an additional 334,858 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.30% of Archrock worth $60,150,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AROC. Hancock Whitney Corp grew its position in shares of Archrock by 139.0% in the 1st quarter. Hancock Whitney Corp now owns 22,605 shares of the energy company's stock worth $593,000 after buying an additional 13,146 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Archrock in the 1st quarter worth about $3,667,000. Royal Bank of Canada grew its position in shares of Archrock by 0.7% in the 1st quarter. Royal Bank of Canada now owns 95,866 shares of the energy company's stock worth $2,514,000 after buying an additional 667 shares during the period. Energy Income Partners LLC grew its position in shares of Archrock by 0.4% in the 1st quarter. Energy Income Partners LLC now owns 1,590,585 shares of the energy company's stock worth $41,737,000 after buying an additional 5,971 shares during the period. Finally, Quarry LP purchased a new stake in shares of Archrock in the 1st quarter worth about $65,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, SVP Eric W. Thode sold 10,000 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president directly owned 224,809 shares of the company's stock, valued at approximately $5,292,003.86. This represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Archrock Trading Up 0.2%

Shares of AROC traded up $0.06 during trading hours on Thursday, reaching $24.79. 719,096 shares of the company traded hands, compared to its average volume of 1,424,660. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 1.24 and a beta of 1.14. Archrock, Inc. has a 12-month low of $18.97 and a 12-month high of $30.44. 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's fifty day moving average price is $23.83 and its 200 day moving average price is $24.46.

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

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th were given a dividend of $0.21 per share. This is a boost from Archrock's previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Tuesday, August 5th. Archrock's dividend payout ratio is presently 63.64%.

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.