Commonwealth Equity Services LLC Acquires Shares of 17,790 Archrock, Inc. (NYSE:AROC)

Commonwealth Equity Services LLC bought a new position in shares of Archrock, Inc. (NYSE:AROC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 17,790 shares of the energy company’s stock, valued at approximately $443,000.

A number of other hedge funds have also modified their holdings of AROC. B. Riley Wealth Advisors Inc. increased its holdings in shares of Archrock by 0.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 50,654 shares of the energy company’s stock valued at $1,025,000 after purchasing an additional 427 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in Archrock by 1.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 48,091 shares of the energy company’s stock valued at $1,197,000 after buying an additional 796 shares in the last quarter. Yousif Capital Management LLC increased its stake in shares of Archrock by 1.6% in the 4th quarter. Yousif Capital Management LLC now owns 66,087 shares of the energy company’s stock worth $1,645,000 after acquiring an additional 1,047 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Archrock by 1.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 61,383 shares of the energy company’s stock worth $1,528,000 after acquiring an additional 1,108 shares during the period. Finally, Mutual of America Capital Management LLC boosted its position in shares of Archrock by 4.4% during the 4th quarter. Mutual of America Capital Management LLC now owns 26,534 shares of the energy company’s stock valued at $660,000 after acquiring an additional 1,126 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Citigroup upped their price objective on Archrock from $32.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $26.67.

Archrock Price Performance

Shares of NYSE:AROC opened at $21.78 on Friday. Archrock, Inc. has a 12 month low of $17.27 and a 12 month high of $30.44. The firm has a market capitalization of $3.82 billion, a P/E ratio of 23.93, a P/E/G ratio of 1.60 and a beta of 1.25. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82. The company’s fifty day moving average price is $26.58 and its 200 day moving average price is $24.79.

Archrock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.49%. This is a boost from Archrock’s previous quarterly dividend of $0.18. Archrock’s payout ratio is 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.