Norges Bank Invests $13.38 Million in Archrock, Inc. (NYSE:AROC)

Norges Bank acquired 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 SEC. The firm acquired 537,671 shares of the energy company's stock, valued at approximately $13,383,000. Norges Bank owned 0.31% of Archrock at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wolverine Asset Management LLC raised its stake in Archrock by 111.8% during the fourth quarter. Wolverine Asset Management LLC now owns 1,504 shares of the energy company's stock worth $37,000 after acquiring an additional 14,200 shares in the last quarter. Continuum Advisory LLC boosted its stake in Archrock by 5,621.6% in the third quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company's stock worth $43,000 after purchasing an additional 2,080 shares in the last quarter. Montag A & Associates Inc. bought a new stake in shares of Archrock during the fourth quarter worth $55,000. R Squared Ltd bought a new position in shares of Archrock in the fourth quarter valued at about $76,000. Finally, Hantz Financial Services Inc. acquired a new position in Archrock during the 4th quarter worth about $107,000. Institutional investors and hedge funds own 95.45% of the company's stock.

Archrock Stock Up 2.1 %

Shares of AROC traded up $0.47 during midday trading on Friday, hitting $22.78. The stock had a trading volume of 1,916,634 shares, compared to its average volume of 1,465,905. The company has a 50 day simple moving average of $25.70 and a two-hundred day simple moving average of $24.82. Archrock, Inc. has a twelve month low of $17.27 and a twelve month high of $30.44. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 25.04, a price-to-earnings-growth ratio of 1.60 and a beta of 1.25. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82.

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Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.19 per share. The ex-dividend date was Wednesday, February 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.34%. This is a boost from Archrock's previous quarterly dividend of $0.18. Archrock's dividend payout ratio is currently 73.08%.

Analysts Set New Price Targets

Separately, Citigroup boosted their price objective on Archrock from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Archrock currently has a consensus rating of "Moderate Buy" and a consensus 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.