Vanguard Group Inc. Raises Stock Holdings in Archrock, Inc. (NYSE:AROC)

Vanguard Group Inc. boosted its stake in Archrock, Inc. (NYSE:AROC) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,571,800 shares of the energy company’s stock after purchasing an additional 508,214 shares during the quarter. Vanguard Group Inc. owned about 12.32% of Archrock worth $536,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Archrock during the 4th quarter valued at $36,241,000. State Street Corp increased its stake in Archrock by 11.5% in the third quarter. State Street Corp now owns 6,836,745 shares of the energy company’s stock valued at $138,376,000 after acquiring an additional 707,379 shares during the last quarter. HITE Hedge Asset Management LLC purchased a new stake in Archrock during the third quarter valued at about $10,939,000. Geode Capital Management LLC raised its position in Archrock by 16.0% during the third quarter. Geode Capital Management LLC now owns 3,794,981 shares of the energy company’s stock valued at $76,826,000 after purchasing an additional 523,825 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Archrock by 10.0% during the fourth quarter. American Century Companies Inc. now owns 4,927,024 shares of the energy company’s stock worth $122,634,000 after purchasing an additional 448,410 shares during the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Archrock Stock Performance

NYSE AROC opened at $26.24 on Tuesday. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 28.83, a PEG ratio of 1.60 and a beta of 1.56. The company has a 50-day simple moving average of $26.97 and a two-hundred day simple moving average of $24.67. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. Archrock, Inc. has a 12-month low of $17.27 and a 12-month high of $30.44.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.90%. This is a positive change from Archrock’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, February 12th. Archrock’s dividend payout ratio (DPR) is presently 73.08%.

Analyst Upgrades and Downgrades

Separately, Citigroup increased their price objective on Archrock from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.67.

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.