Renaissance Technologies LLC Has $20.59 Million Stock Position in Archrock, Inc. $AROC

Renaissance Technologies LLC boosted its position in shares of Archrock, Inc. (NYSE:AROC) by 52.5% in the first quarter, Holdings Channel reports. The fund owned 591,534 shares of the energy company’s stock after acquiring an additional 203,706 shares during the period. Renaissance Technologies LLC’s holdings in Archrock were worth $20,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Sound Income Strategies LLC boosted its holdings in Archrock by 71.0% in the 4th quarter. Sound Income Strategies LLC now owns 971 shares of the energy company’s stock valued at $26,000 after purchasing an additional 403 shares during the period. Valued Wealth Advisors LLC acquired a new stake in shares of Archrock during the 1st quarter valued at about $26,000. Garton & Associates Financial Advisors LLC bought a new stake in Archrock in the fourth quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Archrock in the fourth quarter valued at about $33,000. Finally, Jones Financial Companies Lllp raised its position in Archrock by 217.9% in the first quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company’s stock worth $35,000 after purchasing an additional 902 shares in the last quarter. 95.45% of the stock is owned by institutional investors.

Insider Buying and Selling at Archrock

In related news, CFO Doug S. Aron sold 90,000 shares of Archrock stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $36.74, for a total transaction of $3,306,600.00. Following the sale, the chief financial officer directly owned 394,337 shares in the company, valued at $14,487,941.38. This trade represents a 18.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jason Ingersoll sold 33,000 shares of Archrock stock in a transaction on Monday, May 18th. The stock was sold at an average price of $38.19, for a total transaction of $1,260,270.00. Following the transaction, the senior vice president owned 277,454 shares in the company, valued at approximately $10,595,968.26. This trade represents a 10.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 158,000 shares of company stock valued at $5,907,370 over the last quarter. Company insiders own 2.90% of the company’s stock.

Archrock Stock Up 1.0%

AROC stock opened at $35.49 on Friday. Archrock, Inc. has a fifty-two week low of $21.17 and a fifty-two week high of $42.23. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 1.54 and a beta of 0.84. The business’s fifty day moving average price is $36.95 and its two-hundred day moving average price is $35.10. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.41 and a quick ratio of 0.91.

Archrock (NYSE:AROC) last announced its quarterly earnings data on Tuesday, May 5th. The energy company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.05). Archrock had a net margin of 21.45% and a return on equity of 22.89%. The company had revenue of $373.77 million during the quarter, compared to analyst estimates of $378.36 million. The firm’s revenue was up 7.7% on a year-over-year basis. On average, equities analysts anticipate that Archrock, Inc. will post 1.9 earnings per share for the current year.

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, August 4th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, August 4th. This represents a $0.92 dividend on an annualized basis and a yield of 2.6%. This is a positive change from Archrock’s previous quarterly dividend of $0.22. Archrock’s dividend payout ratio is currently 50.00%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AROC shares. Stifel Nicolaus set a $41.00 price objective on Archrock in a research note on Thursday, May 7th. Mizuho lifted their target price on Archrock from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Royal Bank Of Canada upped their price objective on Archrock from $41.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday, July 21st. Wells Fargo & Company increased their price target on Archrock from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Raymond James Financial restated an “outperform” rating and set a $46.00 price objective on shares of Archrock in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $41.71.

Archrock Company Profile

Archrock, Inc is a Houston‐based provider of natural gas compression services and equipment to the oil and gas industry in North America. Founded in 2004, the company supplies both short‐term rentals and long‐term contracts for compression solutions, serving upstream and midstream producers. Archrock’s offerings include engineered compression systems, aftermarket parts, maintenance and field services designed to optimize wellhead and pipeline operations.

The company’s core business activities focus on the design, manufacture, rental and sale of gas compression equipment.