Summit Global Investments Takes Position in Archrock, Inc. (NYSE:AROC)

Summit Global Investments acquired a new stake in shares of Archrock, Inc. (NYSE:AROC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 57,323 shares of the energy company's stock, valued at approximately $1,427,000.

Several other large investors also recently modified their holdings of the company. State Street Corp lifted its holdings in Archrock by 11.5% during the third 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 in the last quarter. Geode Capital Management LLC boosted its holdings in Archrock by 16.0% in the 3rd 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 period. Charles Schwab Investment Management Inc. boosted its holdings in Archrock by 1.5% in 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 buying an additional 34,272 shares during the period. Kayne Anderson Capital Advisors LP increased its stake in 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 buying an additional 83,824 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Archrock during the fourth quarter valued at about $36,241,000. Institutional investors own 95.45% of the company's stock.

Archrock Trading Up 0.2 %

Shares of AROC traded up $0.05 during midday trading on Tuesday, hitting $27.36. The stock had a trading volume of 546,418 shares, compared to its average volume of 1,380,883. Archrock, Inc. has a 1 year low of $17.27 and a 1 year high of $30.44. The stock's 50 day moving average is $27.24 and its 200 day moving average is $24.40. The firm has a market cap of $4.79 billion, a PE ratio of 30.06, a price-to-earnings-growth ratio of 1.60 and a beta of 1.56. 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. Investors of record on Wednesday, February 12th were issued a dividend of $0.19 per share. This is a positive change from Archrock's previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, February 12th. This represents a $0.76 dividend on an annualized basis and a yield of 2.78%. Archrock's dividend payout ratio (DPR) is presently 73.08%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Citigroup lifted their target price on Archrock from $32.00 to $33.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. JPMorgan Chase & Co. raised their target price on shares of Archrock from $25.00 to $27.00 and gave the company an "overweight" rating in a report on Friday, November 29th. One investment 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.com, Archrock currently has a consensus rating of "Moderate Buy" and an average 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.