Pictet Asset Management Holding SA Acquires 4,898 Shares of Archrock, Inc. (NYSE:AROC)

Pictet Asset Management Holding SA grew its holdings in Archrock, Inc. (NYSE:AROC) by 27.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,872 shares of the energy company’s stock after acquiring an additional 4,898 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Archrock were worth $569,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. increased its holdings in Archrock by 0.9% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 50,654 shares of the energy company’s stock worth $1,025,000 after purchasing an additional 427 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Archrock by 1.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 48,091 shares of the energy company’s stock worth $1,197,000 after buying an additional 796 shares during the period. Yousif Capital Management LLC raised its position in Archrock by 1.6% in the 4th quarter. Yousif Capital Management LLC now owns 66,087 shares of the energy company’s stock valued at $1,645,000 after buying an additional 1,047 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Archrock by 1.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 61,383 shares of the energy company’s stock valued at $1,528,000 after acquiring an additional 1,108 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in 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 worth $660,000 after acquiring an additional 1,126 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Analysts Set New Price Targets

Separately, Citigroup boosted their price objective 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 equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $26.67.

Archrock Trading Down 3.0 %

Shares of Archrock stock opened at $20.92 on Wednesday. Archrock, Inc. has a 12-month low of $17.27 and a 12-month high of $30.44. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. The business’s 50 day moving average is $26.16 and its 200-day moving average is $24.79. The stock has a market cap of $3.67 billion, a P/E ratio of 22.99, a P/E/G ratio of 1.60 and a beta of 1.25.

Archrock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.63%. 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 (DPR) 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.