Navellier & Associates Inc. Buys 8,656 Shares of Archrock, Inc. (NYSE:AROC)

Navellier & Associates Inc. grew its stake in shares of Archrock, Inc. (NYSE:AROC) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 223,310 shares of the energy company’s stock after buying an additional 8,656 shares during the period. Navellier & Associates Inc.’s holdings in Archrock were worth $5,558,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AROC. Kayne Anderson Capital Advisors LP lifted its holdings in shares of Archrock by 1,680.2% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 1,530,440 shares of the energy company’s stock valued at $30,976,000 after purchasing an additional 1,444,471 shares in the last quarter. Eagle Asset Management Inc. bought a new position in shares of Archrock during the 3rd quarter valued at about $22,108,000. State Street Corp lifted its holdings in shares of Archrock by 11.5% during the 3rd quarter. State Street Corp now owns 6,836,745 shares of the energy company’s stock valued at $138,376,000 after purchasing an additional 707,379 shares in the last quarter. HITE Hedge Asset Management LLC bought a new position in shares of Archrock during the 3rd quarter valued at about $10,939,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Archrock by 16.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,794,981 shares of the energy company’s stock valued at $76,826,000 after purchasing an additional 523,825 shares in the last quarter. Institutional investors own 95.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AROC. Royal Bank of Canada lifted their price objective on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. lifted their price objective on Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, November 29th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.17.

Archrock Stock Down 3.0 %

Shares of Archrock stock opened at $26.42 on Friday. The business’s 50 day simple moving average is $27.11 and its 200 day simple moving average is $23.44. Archrock, Inc. has a 52-week low of $17.26 and a 52-week high of $30.44. The firm has a market cap of $4.63 billion, a PE ratio of 29.03, a P/E/G ratio of 1.71 and a beta of 1.57. 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 company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors 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 2.88%. The ex-dividend date was Wednesday, February 12th. This is a positive change from Archrock’s previous quarterly dividend of $0.18. Archrock’s dividend payout ratio (DPR) is currently 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.