Intech Investment Management LLC Acquires 118,849 Shares of Archrock, Inc. (NYSE:AROC)

Intech Investment Management LLC lifted its holdings in Archrock, Inc. (NYSE:AROC - Free Report) by 200.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 178,250 shares of the energy company's stock after acquiring an additional 118,849 shares during the period. Intech Investment Management LLC owned 0.10% of Archrock worth $4,437,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. State Street Corp lifted its stake in shares of Archrock by 11.5% in the 3rd quarter. State Street Corp now owns 6,836,745 shares of the energy company's stock valued at $138,376,000 after purchasing an additional 707,379 shares during the last quarter. Geode Capital Management LLC lifted its position in Archrock by 16.0% in the third quarter. Geode Capital Management LLC now owns 3,794,981 shares of the energy company's stock worth $76,826,000 after buying an additional 523,825 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Archrock by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,358,092 shares of the energy company's stock worth $58,693,000 after buying an additional 34,272 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its holdings in shares of Archrock by 5.5% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 1,614,264 shares of the energy company's stock worth $40,179,000 after acquiring an additional 83,824 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Archrock in the 4th quarter worth about $36,241,000. 95.45% of the stock is owned by institutional investors.

Remove Ads

Archrock Trading Down 1.2 %

Shares of NYSE:AROC traded down $0.32 during trading on Friday, reaching $26.37. 2,606,279 shares of the company were exchanged, compared to its average volume of 1,381,583. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82. The firm has a market capitalization of $4.62 billion, a PE ratio of 28.98, a P/E/G ratio of 1.60 and a beta of 1.56. The business's fifty day simple moving average is $27.23 and its 200-day simple moving average is $24.31. Archrock, Inc. has a 12-month low of $17.27 and a 12-month high of $30.44.

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 dividend of $0.19 per share. The ex-dividend date was Wednesday, February 12th. This is a positive change from Archrock's previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 2.88%. Archrock's payout ratio is 73.08%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AROC. JPMorgan Chase & Co. raised their price objective on shares of Archrock from $25.00 to $27.00 and gave the stock an "overweight" rating in a research note on Friday, November 29th. Citigroup raised 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 analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Archrock has an average rating of "Moderate Buy" and an average target price of $26.67.

Archrock 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.