Cibc World Markets Corp Purchases Shares of 15,618 Archrock, Inc. (NYSE:AROC)

Cibc World Markets Corp bought a new position in Archrock, Inc. (NYSE:AROC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 15,618 shares of the energy company's stock, valued at approximately $389,000.

A number of other institutional investors also recently modified their holdings of AROC. Mutual of America Capital Management LLC raised its holdings in shares of Archrock by 12.4% during the third quarter. Mutual of America Capital Management LLC now owns 25,408 shares of the energy company's stock worth $514,000 after acquiring an additional 2,802 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Archrock by 90.1% during the 3rd quarter. Jennison Associates LLC now owns 61,978 shares of the energy company's stock worth $1,254,000 after purchasing an additional 29,378 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of Archrock by 58.7% during the 3rd quarter. Intech Investment Management LLC now owns 59,401 shares of the energy company's stock valued at $1,202,000 after buying an additional 21,980 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Archrock by 13.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,323,820 shares of the energy company's stock worth $47,034,000 after buying an additional 274,763 shares during the last quarter. Finally, Citigroup Inc. raised its position in Archrock by 59.6% during the third quarter. Citigroup Inc. now owns 447,160 shares of the energy company's stock valued at $9,051,000 after acquiring an additional 166,947 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company's stock.

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Archrock Stock Performance

Shares of NYSE:AROC traded down $0.13 during midday trading on Tuesday, hitting $27.19. The company's stock had a trading volume of 375,530 shares, compared to its average volume of 1,380,883. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. The stock's 50 day simple moving average is $27.24 and its 200 day simple moving average is $24.40. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 1.60 and a beta of 1.56. Archrock, Inc. has a fifty-two week low of $17.27 and a fifty-two week high of $30.44.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th were issued a $0.19 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.76 dividend on an annualized basis and a yield of 2.80%. This is a positive change from Archrock's previous quarterly dividend of $0.18. Archrock's dividend payout ratio (DPR) is 73.08%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AROC. JPMorgan Chase & Co. raised their price target on shares of Archrock from $25.00 to $27.00 and gave the company an "overweight" rating in a report on Friday, November 29th. Citigroup increased their price objective on Archrock from $32.00 to $33.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price 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.