Vanguard Group Inc. Buys 508,214 Shares of Archrock, Inc. (NYSE:AROC)

Vanguard Group Inc. raised its holdings in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,571,800 shares of the energy company's stock after buying an additional 508,214 shares during the quarter. Vanguard Group Inc. owned about 12.32% of Archrock worth $536,922,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. State Street Corp grew its holdings in shares of Archrock by 11.5% during the third 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 in the last quarter. Sei Investments Co. lifted its position in Archrock by 8.3% during the fourth quarter. Sei Investments Co. now owns 5,354,764 shares of the energy company's stock valued at $133,280,000 after purchasing an additional 411,286 shares during the last quarter. American Century Companies Inc. grew its stake in Archrock by 10.0% in the 4th quarter. American Century Companies Inc. now owns 4,927,024 shares of the energy company's stock worth $122,634,000 after buying an additional 448,410 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 worth $76,826,000 after buying an additional 523,825 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised 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 valued at $58,693,000 after buying an additional 34,272 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors.

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Archrock Price Performance

Shares of AROC stock traded down $2.63 during trading hours on Friday, hitting $21.78. 2,718,903 shares of the company's stock were exchanged, compared to its average volume of 1,446,272. The company has a market capitalization of $3.82 billion, a PE ratio of 23.93, a PEG ratio of 1.60 and a beta of 1.25. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. Archrock, Inc. has a 12-month low of $17.27 and a 12-month high of $30.44. The business's 50 day simple moving average is $26.58 and its 200-day simple moving average is $24.79.

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 given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend was Wednesday, February 12th. This is a boost from Archrock's previous quarterly dividend of $0.18. Archrock's dividend payout ratio (DPR) is presently 73.08%.

Wall Street Analyst Weigh In

Separately, Citigroup upped 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 analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $26.67.

About Archrock

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.