68,700 Shares in Archrock, Inc. (NYSE:AROC) Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new stake in shares of Archrock, Inc. (NYSE:AROC) during the 4th quarter, Holdings Channel reports. The firm bought 68,700 shares of the energy company’s stock, valued at approximately $1,058,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Counterpoint Mutual Funds LLC bought a new position in Archrock during the 3rd quarter valued at about $119,000. Raymond James Financial Services Advisors Inc. bought a new position in Archrock during the 3rd quarter valued at about $135,000. Aigen Investment Management LP bought a new position in Archrock during the 3rd quarter valued at about $153,000. Corton Capital Inc. bought a new position in Archrock during the 3rd quarter valued at about $155,000. Finally, Envestnet Portfolio Solutions Inc. bought a new position in Archrock during the 3rd quarter valued at about $159,000. Institutional investors own 95.45% of the company’s stock.

Analysts Set New Price Targets

Separately, Royal Bank of Canada upped their target price on shares of Archrock from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Archrock currently has an average rating of “Moderate Buy” and a consensus target price of $17.67.

Archrock Price Performance

Shares of NYSE:AROC opened at $19.95 on Wednesday. The firm’s 50 day moving average price is $19.03 and its 200-day moving average price is $16.17. Archrock, Inc. has a twelve month low of $8.78 and a twelve month high of $21.40. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $3.12 billion, a PE ratio of 29.78, a price-to-earnings-growth ratio of 2.81 and a beta of 1.59.

Archrock (NYSE:AROC) last issued its quarterly earnings data on Wednesday, February 21st. The energy company reported $0.21 earnings per share for the quarter, hitting the consensus estimate 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 prior year, the business earned $0.07 EPS. The business’s quarterly revenue was up 18.6% on a year-over-year basis. Equities research analysts expect that Archrock, Inc. will post 0.99 EPS for the current year.

Archrock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 13th. Investors of record on Tuesday, February 6th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 3.31%. This is a positive change from Archrock’s previous quarterly dividend of $0.16. The ex-dividend date was Monday, February 5th. Archrock’s dividend payout ratio is currently 98.51%.

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.