Raymond James & Associates Has $3.20 Million Stock Position in Archrock, Inc. (NYSE:AROC)

Raymond James & Associates increased its stake in shares of Archrock, Inc. (NYSE:AROC) by 15.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 158,108 shares of the energy company’s stock after purchasing an additional 20,896 shares during the quarter. Raymond James & Associates owned approximately 0.10% of Archrock worth $3,200,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AROC. Allspring Global Investments Holdings LLC bought a new position in Archrock during the first quarter worth $43,000. BNP Paribas Financial Markets raised its holdings in Archrock by 77.2% during the 1st quarter. BNP Paribas Financial Markets now owns 69,992 shares of the energy company’s stock worth $1,377,000 after purchasing an additional 30,493 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Archrock by 9.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,065 shares of the energy company’s stock worth $257,000 after purchasing an additional 1,079 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in shares of Archrock by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 120,191 shares of the energy company’s stock valued at $2,364,000 after acquiring an additional 1,607 shares during the last quarter. Finally, Duality Advisers LP bought a new stake in shares of Archrock in the 1st quarter valued at about $372,000. Institutional investors own 95.45% of the company’s stock.

Archrock Stock Performance

NYSE:AROC opened at $20.19 on Tuesday. The stock’s 50-day simple moving average is $20.33 and its 200 day simple moving average is $20.15. Archrock, Inc. has a twelve month low of $13.15 and a twelve month high of $23.44. The firm has a market capitalization of $3.41 billion, a PE ratio of 22.69 and a beta of 1.52. The company has a quick ratio of 0.94, a current ratio of 1.53 and a debt-to-equity ratio of 1.80.

Archrock Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th will be issued a $0.175 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This is a boost from Archrock’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a yield of 3.47%. Archrock’s dividend payout ratio is presently 74.16%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. began coverage on Archrock in a research report on Friday, September 6th. They issued an “overweight” rating and a $24.00 price objective for the company. Mizuho assumed coverage on Archrock in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price target on the stock. Royal Bank of Canada increased their price target on Archrock from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Stifel Nicolaus increased their price objective on Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Citigroup initiated coverage on Archrock in a research report on Friday, September 27th. They set a “buy” rating and a $24.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.50.

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.