New York State Teachers Retirement System boosted its position in shares of Archrock, Inc. (NYSE:AROC – Free Report) by 1.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 158,289 shares of the energy company’s stock after acquiring an additional 2,800 shares during the quarter. New York State Teachers Retirement System’s holdings in Archrock were worth $3,204,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AROC. Wolff Wiese Magana LLC bought a new stake in Archrock during the 3rd quarter valued at $30,000. Allspring Global Investments Holdings LLC bought a new stake in Archrock during the 1st quarter valued at $43,000. Quarry LP bought a new stake in Archrock during the 2nd quarter valued at $52,000. CWM LLC raised its holdings in Archrock by 382.0% during the 2nd quarter. CWM LLC now owns 3,591 shares of the energy company’s stock valued at $73,000 after buying an additional 2,846 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Archrock by 16.6% in the 2nd quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock worth $82,000 after purchasing an additional 578 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have commented on AROC shares. Mizuho started coverage on shares of Archrock in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price objective for the company. JPMorgan Chase & Co. started coverage on shares of Archrock in a report on Friday, September 6th. They issued an “overweight” rating and a $24.00 price objective for the company. Evercore ISI started coverage on shares of Archrock in a report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price objective for the company. Royal Bank of Canada upped their price objective on shares of Archrock from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Stifel Nicolaus upped their price objective on shares of Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Archrock has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.
Archrock Stock Up 12.0 %
NYSE:AROC opened at $22.84 on Thursday. The firm’s 50-day moving average price is $20.40 and its 200-day moving average price is $20.17. The company has a market capitalization of $3.86 billion, a PE ratio of 25.66 and a beta of 1.52. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.53 and a quick ratio of 0.94. Archrock, Inc. has a 1-year low of $13.15 and a 1-year high of $23.44.
Archrock Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th will be given a $0.175 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This is an increase from Archrock’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.06%. Archrock’s dividend payout ratio is currently 74.16%.
Archrock 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.
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