Raymond James Financial Inc. Makes New $36.24 Million Investment in Archrock, Inc. (NYSE:AROC)

Raymond James Financial Inc. bought a new position in shares of Archrock, Inc. (NYSE:AROC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,456,059 shares of the energy company's stock, valued at approximately $36,241,000. Raymond James Financial Inc. owned about 0.83% of Archrock as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the business. Renaissance Technologies LLC increased its holdings in Archrock by 4.0% during the 4th quarter. Renaissance Technologies LLC now owns 463,700 shares of the energy company's stock worth $11,541,000 after purchasing an additional 17,900 shares during the last quarter. Invesco Ltd. grew its position in shares of Archrock by 12.8% during the fourth quarter. Invesco Ltd. now owns 8,883,949 shares of the energy company's stock worth $221,121,000 after buying an additional 1,008,438 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Archrock by 1,585,722.9% in the fourth quarter. Federated Hermes Inc. now owns 555,038 shares of the energy company's stock worth $13,815,000 after buying an additional 555,003 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Archrock by 13.4% in the fourth quarter. Russell Investments Group Ltd. now owns 19,220 shares of the energy company's stock valued at $478,000 after acquiring an additional 2,275 shares in the last quarter. Finally, ExodusPoint Capital Management LP bought a new position in Archrock during the 4th quarter valued at $2,017,000. Institutional investors and hedge funds own 95.45% of the company's stock.

Analysts Set New Price Targets

Separately, Citigroup boosted their target price on shares of Archrock from $32.00 to $33.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Archrock currently has a consensus rating of "Moderate Buy" and an average target price of $26.67.

Archrock Stock Performance

AROC traded up $0.36 during trading hours on Tuesday, hitting $23.12. 1,082,403 shares of the stock were exchanged, compared to its average volume of 1,468,333. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82. Archrock, Inc. has a 12 month low of $17.27 and a 12 month high of $30.44. The stock has a 50-day simple moving average of $25.06 and a 200-day simple moving average of $24.96. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 1.60 and a beta of 1.25.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th were issued a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This is a positive change from Archrock's previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 3.29%. Archrock's payout ratio is 73.08%.

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.