Raymond James Financial Inc. Buys New Stake in Archrock, Inc. (NYSE:AROC)

Raymond James Financial Inc. bought a new stake in shares of Archrock, Inc. (NYSE:AROC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,456,059 shares of the energy company's stock, valued at approximately $36,241,000. Raymond James Financial Inc. owned 0.83% of Archrock at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State Street Corp raised its position in shares of Archrock by 11.5% during the 3rd quarter. State Street Corp now owns 6,836,745 shares of the energy company's stock worth $138,376,000 after purchasing an additional 707,379 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Archrock by 16.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,794,981 shares of the energy company's stock valued at $76,826,000 after buying an additional 523,825 shares during the period. Charles Schwab Investment Management Inc. boosted its position 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 purchasing an additional 34,272 shares during the period. Kayne Anderson Capital Advisors LP boosted its position in shares of Archrock by 1,680.2% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 1,530,440 shares of the energy company's stock worth $30,976,000 after purchasing an additional 1,444,471 shares during the period. Finally, Eagle Asset Management Inc. purchased a new position in Archrock in the 3rd quarter valued at approximately $22,108,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Archrock from $25.00 to $27.00 and gave the company an "overweight" rating in a report on Friday, November 29th. Royal Bank of Canada lifted their price objective on shares of Archrock from $26.00 to $27.00 and gave the company an "outperform" rating in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.17.

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Archrock Stock Performance

Shares of AROC stock opened at $24.09 on Friday. Archrock, Inc. has a one year low of $17.26 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 company has a 50 day moving average price of $27.19 and a 200 day moving average price of $24.02. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 1.60 and a beta of 1.56.

Archrock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th were paid a $0.19 dividend. The ex-dividend date was Wednesday, February 12th. This is an increase from Archrock's previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 3.16%. Archrock's dividend payout ratio is 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.

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