Williamson Legacy Group LLC Invests $587,000 in Archrock, Inc. (NYSE:AROC)

Williamson Legacy Group LLC bought a new position in shares of Archrock, Inc. (NYSE:AROC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 23,580 shares of the energy company's stock, valued at approximately $587,000.

Several other hedge funds also recently made changes to their positions in AROC. Barclays PLC lifted its position in Archrock by 124.2% during the third quarter. Barclays PLC now owns 302,610 shares of the energy company's stock worth $6,125,000 after purchasing an additional 167,648 shares during the period. JPMorgan Chase & Co. raised its position in shares of Archrock by 94.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 422,383 shares of the energy company's stock valued at $8,549,000 after buying an additional 205,241 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of Archrock during the 3rd quarter worth approximately $314,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Archrock during the 3rd quarter worth approximately $200,000. Finally, Principal Financial Group Inc. increased its stake in Archrock by 7.5% in the fourth quarter. Principal Financial Group Inc. now owns 916,945 shares of the energy company's stock valued at $22,823,000 after acquiring an additional 63,650 shares during the last quarter. 95.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Archrock from $25.00 to $27.00 and gave the stock an "overweight" rating in a research note on Friday, November 29th. Royal Bank of Canada upped their price objective on Archrock from $26.00 to $27.00 and gave the stock an "outperform" rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $25.17.

Archrock Price Performance

Shares of NYSE AROC traded up $0.16 during midday trading on Wednesday, reaching $25.27. 1,508,936 shares of the company were exchanged, compared to its average volume of 1,362,456. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. Archrock, Inc. has a one year low of $17.26 and a one year high of $30.44. The stock has a market cap of $4.43 billion, a P/E ratio of 27.77, a PEG ratio of 1.60 and a beta of 1.56. The stock's 50-day moving average price is $27.32 and its 200-day moving average price is $23.87.

Archrock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th were given 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 yield of 3.01%. Archrock's dividend payout ratio (DPR) is currently 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.