Archrock, Inc. (NYSE:AROC) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its position in Archrock, Inc. (NYSE:AROC) by 7.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 916,945 shares of the energy company’s stock after purchasing an additional 63,650 shares during the quarter. Principal Financial Group Inc.’s holdings in Archrock were worth $22,823,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. acquired a new position in shares of Archrock during the 3rd quarter valued at about $28,000. Continuum Advisory LLC increased its stake in shares of Archrock by 5,621.6% during the 3rd quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company’s stock valued at $43,000 after acquiring an additional 2,080 shares during the last quarter. Millburn Ridgefield Corp acquired a new position in shares of Archrock during the 3rd quarter valued at about $50,000. Montag A & Associates Inc. acquired a new position in shares of Archrock during the 4th quarter valued at about $55,000. Finally, R Squared Ltd acquired a new position in shares of Archrock during the 4th quarter valued at about $76,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Analysts Set New Price Targets

AROC has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price objective on shares of Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. upped their price objective on shares of Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Archrock currently has an average rating of “Moderate Buy” and a consensus price target of $25.17.

Archrock Stock Down 3.0 %

AROC opened at $26.42 on Monday. The firm has a 50 day moving average price of $27.11 and a 200 day moving average price of $23.51. The company has a market cap of $4.63 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 1.65 and a beta of 1.57. Archrock, Inc. has a 1 year low of $17.26 and a 1 year high of $30.44. 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 given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.88%. 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 is 83.52%.

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.