Archrock, Inc. (NYSE:AROC) Shares Acquired by Raymond James & Associates

Raymond James & Associates grew its stake in Archrock, Inc. (NYSE:AROC) by 84.3% in the fourth quarter, Holdings Channel reports. The fund owned 142,510 shares of the energy company’s stock after purchasing an additional 65,185 shares during the period. Raymond James & Associates’ holdings in Archrock were worth $2,195,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC increased its position in shares of Archrock by 4.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 270,307 shares of the energy company’s stock worth $4,163,000 after purchasing an additional 11,668 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Archrock during the 3rd quarter worth about $907,000. American Century Companies Inc. increased its position in shares of Archrock by 6.7% during the 3rd quarter. American Century Companies Inc. now owns 2,157,721 shares of the energy company’s stock worth $27,187,000 after purchasing an additional 135,471 shares during the last quarter. Deutsche Bank AG increased its position in shares of Archrock by 11.0% during the 3rd quarter. Deutsche Bank AG now owns 84,122 shares of the energy company’s stock worth $1,060,000 after purchasing an additional 8,310 shares during the last quarter. Finally, Graham Capital Management L.P. acquired a new stake in shares of Archrock during the 3rd quarter worth about $165,000. 95.45% of the stock is owned by institutional investors and hedge funds.

Archrock Stock Performance

Shares of Archrock stock opened at $19.39 on Wednesday. The business has a 50-day moving average of $18.64 and a 200 day moving average of $15.87. Archrock, Inc. has a 12 month low of $8.78 and a 12 month high of $21.40. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 28.93, a price-to-earnings-growth ratio of 2.90 and a beta of 1.59. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.40 and a quick ratio of 0.86.

Archrock (NYSE:AROC) last announced its earnings results on Wednesday, February 21st. The energy company reported $0.21 EPS for the quarter, meeting analysts’ consensus estimates of $0.21. Archrock had a return on equity of 12.63% and a net margin of 10.60%. The company had revenue of $259.60 million during the quarter, compared to analysts’ expectations of $252.42 million. During the same period last year, the business posted $0.07 EPS. Archrock’s revenue for the quarter was up 18.6% on a year-over-year basis. As a group, sell-side analysts forecast that Archrock, Inc. will post 0.99 earnings per share for the current year.

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Tuesday, February 6th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Monday, February 5th. This is a boost from Archrock’s previous quarterly dividend of $0.16. Archrock’s dividend payout ratio (DPR) is presently 98.51%.

Analysts Set New Price Targets

Separately, Royal Bank of Canada raised their price objective on Archrock from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Archrock presently has an average rating of “Moderate Buy” and an average target price of $17.67.

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.