Harvest Fund Management Co. Ltd Takes $311,000 Position in Archrock, Inc. (NYSE:AROC)

Harvest Fund Management Co. Ltd bought a new stake in shares of Archrock, Inc. (NYSE:AROC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,500 shares of the energy company’s stock, valued at approximately $311,000.

Several other hedge funds have also modified their holdings of the stock. Crown Advisors Management Inc. lifted its holdings in shares of Archrock by 33.3% during the fourth quarter. Crown Advisors Management Inc. now owns 200,000 shares of the energy company’s stock valued at $4,978,000 after purchasing an additional 50,000 shares during the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of Archrock by 3.4% during the fourth quarter. Maryland State Retirement & Pension System now owns 58,991 shares of the energy company’s stock valued at $1,468,000 after purchasing an additional 1,942 shares during the last quarter. Xponance Inc. lifted its holdings in shares of Archrock by 18.5% during the fourth quarter. Xponance Inc. now owns 12,833 shares of the energy company’s stock valued at $319,000 after purchasing an additional 2,002 shares during the last quarter. Boston Partners lifted its holdings in shares of Archrock by 2.3% during the fourth quarter. Boston Partners now owns 1,296,812 shares of the energy company’s stock valued at $32,773,000 after purchasing an additional 28,559 shares during the last quarter. Finally, Intech Investment Management LLC lifted its holdings in shares of Archrock by 200.1% during the fourth quarter. Intech Investment Management LLC now owns 178,250 shares of the energy company’s stock valued at $4,437,000 after purchasing an additional 118,849 shares during the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on AROC. Citigroup increased their price objective on Archrock from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. increased their price objective on Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, November 29th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Archrock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.67.

Archrock Stock Performance

AROC opened at $26.37 on Friday. The firm has a market capitalization of $4.62 billion, a P/E ratio of 28.98, a price-to-earnings-growth ratio of 1.60 and a beta of 1.56. The stock’s 50 day moving average price is $27.23 and its two-hundred day moving average price is $24.27. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. Archrock, Inc. has a 12-month low of $17.27 and a 12-month high of $30.44.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th were issued a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.76 dividend on an annualized basis and a yield of 2.88%. This is a positive change from Archrock’s previous quarterly dividend of $0.18. Archrock’s dividend payout ratio (DPR) is 73.08%.

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.