HITE Hedge Asset Management LLC Boosts Holdings in Archrock, Inc. (NYSE:AROC)

HITE Hedge Asset Management LLC grew its position in Archrock, Inc. (NYSE:AROC - Free Report) by 24.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 670,429 shares of the energy company's stock after purchasing an additional 129,947 shares during the quarter. Archrock comprises approximately 1.2% of HITE Hedge Asset Management LLC's investment portfolio, making the stock its 27th biggest position. HITE Hedge Asset Management LLC owned about 0.38% of Archrock worth $16,687,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Atria Investments Inc grew its holdings in shares of Archrock by 17.4% during the 4th quarter. Atria Investments Inc now owns 38,313 shares of the energy company's stock worth $954,000 after purchasing an additional 5,665 shares in the last quarter. Barclays PLC grew its stake in Archrock by 124.2% during the third quarter. Barclays PLC now owns 302,610 shares of the energy company's stock worth $6,125,000 after buying an additional 167,648 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Archrock by 94.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 422,383 shares of the energy company's stock valued at $8,549,000 after buying an additional 205,241 shares during the period. New Age Alpha Advisors LLC acquired a new position in shares of Archrock in the 4th quarter valued at approximately $242,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Archrock by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,358,092 shares of the energy company's stock worth $58,693,000 after acquiring an additional 34,272 shares during the period. 95.45% of the stock is owned by institutional investors and hedge funds.

Archrock Price Performance

Shares of AROC traded up $0.49 during trading hours on Wednesday, reaching $23.61. The stock had a trading volume of 686,486 shares, compared to its average volume of 1,465,407. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. Archrock, Inc. has a 12 month low of $17.27 and a 12 month high of $30.44. The stock has a market capitalization of $4.14 billion, a PE ratio of 25.95, a PEG ratio of 1.60 and a beta of 1.25. The company's 50-day moving average is $25.06 and its two-hundred day moving average is $24.96.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th were given a $0.19 dividend. This is a boost from Archrock's previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Wednesday, February 12th. Archrock's dividend payout ratio is 73.08%.

Wall Street Analyst Weigh In

Separately, Citigroup boosted their price objective on shares of Archrock from $32.00 to $33.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Archrock presently has an average rating of "Moderate Buy" and an average price target of $26.67.

Archrock Company 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.