Arrowstreet Capital Limited Partnership Has $14.77 Million Stock Position in Archrock, Inc. (NYSE:AROC)

Arrowstreet Capital Limited Partnership grew its holdings in Archrock, Inc. (NYSE:AROC) by 26.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 593,566 shares of the energy company’s stock after acquiring an additional 123,027 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.34% of Archrock worth $14,774,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Pictet Asset Management Holding SA raised its stake in Archrock by 27.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 22,872 shares of the energy company’s stock worth $569,000 after purchasing an additional 4,898 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Archrock in the fourth quarter valued at approximately $242,000. Norges Bank bought a new stake in shares of Archrock in the fourth quarter valued at approximately $13,383,000. JPMorgan Chase & Co. grew its position in Archrock by 135.1% during the fourth quarter. JPMorgan Chase & Co. now owns 993,063 shares of the energy company’s stock worth $24,717,000 after buying an additional 570,680 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in Archrock by 1.1% during the 4th quarter. Prudential Financial Inc. now owns 176,775 shares of the energy company’s stock worth $4,400,000 after acquiring an additional 1,954 shares during the period. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Archrock Trading Down 10.8 %

Shares of AROC stock opened at $21.78 on Friday. Archrock, Inc. has a fifty-two week low of $17.27 and a fifty-two week high of $30.44. The stock’s fifty day moving average price is $26.58 and its two-hundred day moving average price is $24.75. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. The company has a market cap of $3.82 billion, a PE ratio of 23.93, a P/E/G ratio of 1.60 and a beta of 1.25.

Archrock Increases Dividend

The firm 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. This represents a $0.76 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date was Wednesday, February 12th. This is a boost from Archrock’s previous quarterly dividend of $0.18. Archrock’s payout ratio is currently 73.08%.

Analysts Set New Price Targets

Separately, Citigroup upped their target price on Archrock from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Archrock currently has an average rating of “Moderate Buy” and a consensus target price 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.