Fisher Asset Management LLC Reduces Position in Archrock, Inc. (NYSE:AROC)

Fisher Asset Management LLC decreased its holdings in Archrock, Inc. (NYSE:AROC) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 114,993 shares of the energy company’s stock after selling 432 shares during the quarter. Fisher Asset Management LLC owned approximately 0.07% of Archrock worth $2,862,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Brown Brothers Harriman & Co. acquired a new position in shares of Archrock in the 3rd quarter valued at approximately $28,000. Wolverine Asset Management LLC increased its stake in shares of Archrock by 111.8% in the fourth quarter. Wolverine Asset Management LLC now owns 1,504 shares of the energy company’s stock worth $37,000 after buying an additional 14,200 shares during the last quarter. Continuum Advisory LLC raised its holdings in Archrock by 5,621.6% in the third quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company’s stock valued at $43,000 after acquiring an additional 2,080 shares in the last quarter. Millburn Ridgefield Corp bought a new position in Archrock during the 3rd quarter valued at $50,000. Finally, Montag A & Associates Inc. acquired a new stake in shares of Archrock in the 4th quarter valued at about $55,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on AROC shares. Royal Bank of Canada upped their price objective on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. lifted their price objective on shares of Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Archrock presently has an average rating of “Moderate Buy” and a consensus price target of $25.17.

Archrock Price Performance

Shares of NYSE AROC opened at $25.27 on Thursday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82. The firm has a market capitalization of $4.43 billion, a PE ratio of 27.77, a P/E/G ratio of 1.60 and a beta of 1.56. Archrock, Inc. has a 1-year low of $17.26 and a 1-year high of $30.44. The business’s fifty day moving average price is $27.32 and its two-hundred day moving average price is $23.88.

Archrock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th were given a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from Archrock’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 3.01%. Archrock’s dividend payout ratio (DPR) is currently 73.08%.

About Archrock

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.