Arizona State Retirement System Purchases 1,408 Shares of Archrock, Inc. (NYSE:AROC)

Arizona State Retirement System lifted its position in Archrock, Inc. (NYSE:AROC) by 3.5% during the 4th quarter, Holdings Channel reports. The firm owned 41,562 shares of the energy company’s stock after acquiring an additional 1,408 shares during the period. Arizona State Retirement System’s holdings in Archrock were worth $640,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in AROC. Russell Investments Group Ltd. bought a new stake in Archrock in the first quarter valued at $31,000. Tower Research Capital LLC TRC boosted its holdings in Archrock by 184.8% in the first quarter. Tower Research Capital LLC TRC now owns 3,913 shares of the energy company’s stock valued at $38,000 after acquiring an additional 2,539 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Archrock by 13.1% in the second quarter. Ameritas Investment Partners Inc. now owns 11,489 shares of the energy company’s stock valued at $118,000 after acquiring an additional 1,335 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in Archrock in the third quarter valued at $119,000. Finally, Meeder Advisory Services Inc. bought a new stake in Archrock in the first quarter valued at $119,000. Institutional investors own 95.45% of the company’s stock.

Archrock Stock Performance

Shares of AROC stock opened at $18.94 on Friday. Archrock, Inc. has a 12 month low of $8.78 and a 12 month high of $21.40. The stock has a market cap of $2.96 billion, a PE ratio of 28.27, a price-to-earnings-growth ratio of 2.80 and a beta of 1.59. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.82. The company’s fifty day moving average price is $18.77 and its 200-day moving average price is $15.94.

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 net margin of 10.60% and a return on equity of 12.63%. The firm had revenue of $259.60 million for the quarter, compared to analysts’ expectations of $252.42 million. During the same quarter in the previous year, the business posted $0.07 EPS. The company’s quarterly revenue was up 18.6% on a year-over-year basis. On average, equities analysts expect that Archrock, Inc. will post 0.99 EPS for the current fiscal year.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Tuesday, February 6th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Monday, February 5th. This is a positive change from Archrock’s previous quarterly dividend of $0.16. Archrock’s payout ratio is currently 98.51%.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada lifted their price target on shares of Archrock from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.