Millennium Management LLC lifted its stake in shares of Archrock Inc (NYSE:AROC) by 570.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,176,905 shares of the energy company’s stock after purchasing an additional 1,852,114 shares during the period. Millennium Management LLC’s holdings in Archrock were worth $19,048,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in AROC. Point72 Asia Hong Kong Ltd acquired a new position in Archrock during the first quarter worth about $103,000. Amalgamated Bank acquired a new position in Archrock during the fourth quarter worth about $106,000. BlueCrest Capital Management Ltd acquired a new position in Archrock during the fourth quarter worth about $109,000. Virtu Financial LLC acquired a new position in Archrock during the fourth quarter worth about $111,000. Finally, Elkfork Partners LLC acquired a new position in Archrock during the fourth quarter worth about $118,000. 95.58% of the stock is owned by institutional investors and hedge funds.
Archrock opened at $12.15 on Tuesday, Marketbeat.com reports. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.89 and a current ratio of 1.48. Archrock Inc has a 1-year low of $8.25 and a 1-year high of $13.01.
Archrock (NYSE:AROC) last posted its earnings results on Thursday, May 3rd. The energy company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $212.00 million during the quarter, compared to analyst estimates of $204.88 million. Archrock had a net margin of 3.28% and a negative return on equity of 1.00%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. analysts predict that Archrock Inc will post 0.22 earnings per share for the current year.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Archrock from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Tuesday, June 26th. ValuEngine upgraded shares of Archrock from a “sell” rating to a “hold” rating in a research report on Tuesday, May 22nd. B. Riley boosted their price target on shares of Archrock from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, May 22nd. JPMorgan Chase & Co. lowered shares of Archrock from an “overweight” rating to a “neutral” rating and set a $13.00 price target on the stock. in a research report on Tuesday, May 1st. Finally, FBR & Co boosted their price target on shares of Archrock from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, May 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $13.83.
In other Archrock news, insider Robert Edward Rice sold 67,554 shares of the business’s stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $11.70, for a total value of $790,381.80. Following the transaction, the insider now directly owns 255,451 shares in the company, valued at approximately $2,988,776.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Ingersoll sold 12,969 shares of the business’s stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $11.64, for a total transaction of $150,959.16. Following the completion of the transaction, the insider now owns 73,331 shares in the company, valued at $853,572.84. The disclosure for this sale can be found here. Insiders own 2.54% of the company’s stock.
Archrock Company Profile
Archrock, Inc engages in the natural gas contract operations services business in the United States. The company provides natural gas compression services to customers in the oil and natural gas industry. It also offers aftermarket services, such as parts and components; and operation, maintenance, overhaul, and reconfiguration services to customers who own compression equipment.
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