Mirae Asset Global Investments Co. Ltd. Has $25 Million Stock Position in Archrock, Inc. (NYSE:AROC)

Mirae Asset Global Investments Co. Ltd. lifted its stake in Archrock, Inc. (NYSE:AROC) by 18.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,270,818 shares of the energy company’s stock after acquiring an additional 195,549 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.81% of Archrock worth $24,997,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blackstone Inc. boosted its stake in shares of Archrock by 4,211.9% in the 4th quarter. Blackstone Inc. now owns 5,903,142 shares of the energy company’s stock valued at $90,908,000 after purchasing an additional 5,766,237 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Archrock by 37.7% in the 4th quarter. Sei Investments Co. now owns 5,113,865 shares of the energy company’s stock valued at $78,753,000 after purchasing an additional 1,399,309 shares in the last quarter. Norges Bank acquired a new stake in shares of Archrock in the 4th quarter valued at $15,958,000. Goldman Sachs Group Inc. boosted its stake in shares of Archrock by 171.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,332,058 shares of the energy company’s stock valued at $20,514,000 after purchasing an additional 841,366 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of Archrock by 302.9% in the 4th quarter. Allianz Asset Management GmbH now owns 912,784 shares of the energy company’s stock valued at $14,057,000 after purchasing an additional 686,242 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Archrock Trading Down 3.7 %

NYSE:AROC traded down $0.77 on Friday, hitting $20.14. 658,328 shares of the stock were exchanged, compared to its average volume of 1,344,174. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 24.27, a P/E/G ratio of 1.63 and a beta of 1.53. Archrock, Inc. has a 52 week low of $9.57 and a 52 week high of $21.60. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.74 and a current ratio of 1.26. The company’s 50-day moving average price is $19.76 and its 200 day moving average price is $18.33.

Archrock (NYSE:AROC) last announced its quarterly earnings data on Wednesday, May 1st. The energy company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. The firm had revenue of $268.49 million during the quarter, compared to analysts’ expectations of $260.51 million. Archrock had a return on equity of 15.30% and a net margin of 12.54%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 EPS. On average, equities research analysts forecast that Archrock, Inc. will post 1.07 earnings per share for the current year.

Archrock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th were given a dividend of $0.165 per share. The ex-dividend date was Monday, May 6th. This represents a $0.66 annualized dividend and a dividend yield of 3.28%. Archrock’s payout ratio is currently 79.52%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Royal Bank of Canada lifted their price target on Archrock from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. StockNews.com cut Archrock from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Finally, Stifel Nicolaus lifted their price target on Archrock from $20.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.67.

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.