Covestor Ltd Grows Stake in Archrock, Inc. (NYSE:AROC)

Covestor Ltd increased its position in Archrock, Inc. (NYSE:AROC) by 580.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,485 shares of the energy company’s stock after purchasing an additional 3,826 shares during the period. Covestor Ltd’s holdings in Archrock were worth $111,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AROC. Atria Investments Inc raised its holdings in Archrock by 17.4% in the fourth quarter. Atria Investments Inc now owns 38,313 shares of the energy company’s stock worth $954,000 after buying an additional 5,665 shares during the last quarter. Barclays PLC raised its holdings in Archrock by 124.2% in the 3rd quarter. Barclays PLC now owns 302,610 shares of the energy company’s stock worth $6,125,000 after acquiring an additional 167,648 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Archrock by 94.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 422,383 shares of the energy company’s stock valued at $8,549,000 after acquiring an additional 205,241 shares in the last quarter. Verition Fund Management LLC purchased a new stake in Archrock during the 3rd quarter valued at $314,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Archrock by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,358,092 shares of the energy company’s stock worth $58,693,000 after purchasing an additional 34,272 shares in the last quarter. Institutional investors own 95.45% of the company’s stock.

Archrock Stock Performance

Shares of AROC opened at $22.78 on Friday. The firm has a market capitalization of $3.99 billion, a P/E ratio of 25.04, a PEG ratio of 1.60 and a beta of 1.25. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82. Archrock, Inc. has a one year low of $17.27 and a one year high of $30.44. The business has a fifty day moving average of $25.70 and a 200 day moving average of $24.82.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.19 per share. The ex-dividend date was Wednesday, February 12th. This represents a $0.76 annualized dividend and a dividend yield of 3.34%. This is a positive change from Archrock’s previous quarterly dividend of $0.18. Archrock’s dividend payout ratio is presently 73.08%.

Wall Street Analysts Forecast Growth

Separately, Citigroup increased their price objective on Archrock from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $26.67.

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.