Renaissance Technologies LLC Boosts Stake in Archrock, Inc. (NYSE:AROC)

Renaissance Technologies LLC grew its position in Archrock, Inc. (NYSE:AROC - Free Report) by 4.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 463,700 shares of the energy company's stock after buying an additional 17,900 shares during the period. Renaissance Technologies LLC owned approximately 0.26% of Archrock worth $11,541,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AROC. Wolverine Asset Management LLC increased its position in Archrock by 111.8% during the fourth quarter. Wolverine Asset Management LLC now owns 1,504 shares of the energy company's stock valued at $37,000 after acquiring an additional 14,200 shares during the last quarter. Montag A & Associates Inc. purchased a new stake in shares of Archrock during the 4th quarter valued at about $55,000. R Squared Ltd bought a new position in shares of Archrock in the 4th quarter worth approximately $76,000. Hantz Financial Services Inc. purchased a new position in shares of Archrock in the fourth quarter worth approximately $107,000. Finally, Steph & Co. bought a new stake in Archrock during the fourth quarter valued at approximately $129,000. Hedge funds and other institutional investors own 95.45% of the company's stock.

Archrock Price Performance

Shares of NYSE AROC traded up $0.46 during midday trading on Friday, reaching $24.04. The stock had a trading volume of 939,074 shares, compared to its average volume of 1,469,655. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 26.42, a price-to-earnings-growth ratio of 1.60 and a beta of 1.25. Archrock, Inc. has a 12-month low of $17.27 and a 12-month high of $30.44. The stock has a 50-day moving average of $25.24 and a 200-day moving average of $24.91. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from Archrock's previous quarterly dividend of $0.18. Archrock's dividend payout ratio (DPR) is 73.08%.

Analyst Upgrades and Downgrades

Separately, Citigroup lifted their price target on shares of Archrock from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. One investment 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, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.