ExodusPoint Capital Management LP Buys Shares of 81,029 Archrock, Inc. (NYSE:AROC)

ExodusPoint Capital Management LP purchased a new position in shares of Archrock, Inc. (NYSE:AROC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 81,029 shares of the energy company’s stock, valued at approximately $2,017,000.

Several other hedge funds have also made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in Archrock in the 4th quarter worth approximately $36,241,000. State Street Corp raised its stake in shares of Archrock by 11.5% during the third quarter. State Street Corp now owns 6,836,745 shares of the energy company’s stock valued at $138,376,000 after purchasing an additional 707,379 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in Archrock in the fourth quarter worth about $17,247,000. JPMorgan Chase & Co. grew its position in Archrock by 135.1% in the 4th quarter. JPMorgan Chase & Co. now owns 993,063 shares of the energy company’s stock valued at $24,717,000 after buying an additional 570,680 shares in the last quarter. Finally, Norges Bank acquired a new position in Archrock during the 4th quarter valued at about $13,383,000. Institutional investors own 95.45% of the company’s stock.

Analysts Set New Price Targets

Separately, Citigroup upped their price target on shares of Archrock from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.67.

Archrock Price Performance

Shares of Archrock stock opened at $20.92 on Wednesday. Archrock, Inc. has a 52 week low of $17.27 and a 52 week high of $30.44. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. The stock has a market cap of $3.67 billion, a PE ratio of 22.99, a price-to-earnings-growth ratio of 1.60 and a beta of 1.25. The company’s 50-day moving average price is $26.16 and its two-hundred day moving average price is $24.79.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th were issued a $0.19 dividend. This is an increase from Archrock’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Wednesday, February 12th. Archrock’s payout ratio is presently 73.08%.

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.