Point72 Asset Management L.P. Invests $435,000 in Archrock, Inc. (NYSE:AROC)

Point72 Asset Management L.P. purchased a new stake in shares of Archrock, Inc. (NYSE:AROC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 21,500 shares of the energy company’s stock, valued at approximately $435,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quarry LP purchased a new position in Archrock during the 2nd quarter valued at $52,000. Creative Planning increased its position in shares of Archrock by 58.3% during the second quarter. Creative Planning now owns 22,998 shares of the energy company’s stock valued at $465,000 after buying an additional 8,468 shares during the period. Algert Global LLC raised its stake in Archrock by 175.7% in the second quarter. Algert Global LLC now owns 567,240 shares of the energy company’s stock worth $11,470,000 after buying an additional 361,520 shares in the last quarter. Mackenzie Financial Corp raised its stake in Archrock by 10.9% in the second quarter. Mackenzie Financial Corp now owns 39,182 shares of the energy company’s stock worth $792,000 after buying an additional 3,850 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Archrock by 8.3% in the second quarter. The Manufacturers Life Insurance Company now owns 84,727 shares of the energy company’s stock worth $1,713,000 after buying an additional 6,489 shares during the period. Institutional investors own 95.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AROC shares. Stifel Nicolaus raised their target price on Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. initiated coverage on shares of Archrock in a report on Friday, September 6th. They set an “overweight” rating and a $24.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 target price on shares of Archrock in a research report on Wednesday, August 7th. Evercore ISI assumed coverage on shares of Archrock in a research report on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price target for the company. Finally, Mizuho assumed coverage on shares of Archrock in a report on Wednesday. They issued an “outperform” rating and a $24.00 price objective on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.57.

Archrock Stock Up 3.1 %

Shares of Archrock stock opened at $21.81 on Friday. The company has a 50-day simple moving average of $19.81 and a two-hundred day simple moving average of $20.03. The stock has a market capitalization of $3.41 billion, a PE ratio of 26.27 and a beta of 1.51. Archrock, Inc. has a 52-week low of $11.73 and a 52-week high of $23.44. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.94 and a current ratio of 1.53.

Archrock (NYSE:AROC) last released its quarterly earnings data on Tuesday, July 30th. The energy company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. The business had revenue of $270.53 million for the quarter, compared to analysts’ expectations of $270.61 million. Archrock had a return on equity of 16.35% and a net margin of 13.20%. On average, analysts anticipate that Archrock, Inc. will post 1.07 EPS for the current fiscal year.

Archrock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were paid a $0.165 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.03%. Archrock’s dividend payout ratio is presently 79.52%.

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.