Clearbridge Investments LLC Buys Shares of 692,924 Archrock, Inc. (NYSE:AROC)

Clearbridge Investments LLC purchased a new position in Archrock, Inc. (NYSE:AROC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 692,924 shares of the energy company's stock, valued at approximately $17,247,000. Clearbridge Investments LLC owned about 0.40% of Archrock at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Cerity Partners LLC raised its holdings in Archrock by 72.3% in the third quarter. Cerity Partners LLC now owns 25,073 shares of the energy company's stock worth $507,000 after buying an additional 10,522 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Archrock by 7.6% during the third quarter. The Manufacturers Life Insurance Company now owns 91,189 shares of the energy company's stock valued at $1,846,000 after acquiring an additional 6,462 shares in the last quarter. FMR LLC raised its holdings in Archrock by 54.5% in the 3rd quarter. FMR LLC now owns 709,920 shares of the energy company's stock worth $14,369,000 after acquiring an additional 250,469 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Archrock by 30.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 124,096 shares of the energy company's stock valued at $2,512,000 after acquiring an additional 29,282 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in Archrock by 2.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 31,485 shares of the energy company's stock valued at $637,000 after purchasing an additional 838 shares during the last quarter. Institutional investors own 95.45% of the company's stock.

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Analyst Ratings Changes

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

Archrock Stock Performance

Shares of NYSE AROC traded down $0.33 during midday trading on Monday, hitting $21.47. 3,010,976 shares of the stock traded hands, compared to its average volume of 1,452,506. The firm has a market capitalization of $3.76 billion, a P/E ratio of 23.59, a PEG ratio of 1.60 and a beta of 1.25. Archrock, Inc. has a one year low of $17.27 and a one year high of $30.44. 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 firm has a 50-day moving average of $26.47 and a two-hundred day moving average of $24.82.

Archrock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.54%. This is a boost 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%.

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.