Fisher Asset Management LLC Invests $752,000 in Archrock, Inc. (NYSE:AROC)

Fisher Asset Management LLC acquired a new stake in Archrock, Inc. (NYSE:AROC) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 48,805 shares of the energy company’s stock, valued at approximately $752,000.

A number of other large investors have also bought and sold shares of the business. Louisiana State Employees Retirement System acquired a new position in shares of Archrock in the fourth quarter valued at approximately $1,058,000. Chase Investment Counsel Corp acquired a new position in Archrock in the 4th quarter worth $1,909,000. Blackstone Inc. bought a new position in Archrock during the 3rd quarter worth about $1,725,000. Envestnet Asset Management Inc. raised its stake in shares of Archrock by 110.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 971,477 shares of the energy company’s stock valued at $12,241,000 after purchasing an additional 509,862 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Archrock in the third quarter valued at about $620,000. 95.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on AROC. Royal Bank of Canada lifted their target price on Archrock from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Stifel Nicolaus lifted their price objective on shares of Archrock from $20.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Archrock has an average rating of “Moderate Buy” and a consensus target price of $19.67.

Archrock Stock Performance

AROC opened at $20.36 on Friday. The business’s 50-day simple moving average is $19.55 and its 200 day simple moving average is $16.71. Archrock, Inc. has a 52-week low of $8.92 and a 52-week high of $21.40. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.74 and a current ratio of 1.26. The firm has a market capitalization of $3.18 billion, a PE ratio of 24.53, a PEG ratio of 2.82 and a beta of 1.58.

Archrock (NYSE:AROC) last issued its earnings results on Wednesday, May 1st. The energy company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The business had revenue of $268.49 million for the quarter, compared to the consensus estimate of $260.51 million. Archrock had a net margin of 12.54% and a return on equity of 15.30%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. As a group, sell-side analysts expect that Archrock, Inc. will post 1.02 earnings per share for the current fiscal year.

Archrock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th will be issued a $0.165 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.24%. Archrock’s payout ratio is 79.52%.

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.