Arizona State Retirement System Has $640,000 Position in Archrock, Inc. (NYSE:AROC)

Arizona State Retirement System lifted its stake in shares of Archrock, Inc. (NYSE:AROC) by 3.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 41,562 shares of the energy company’s stock after acquiring an additional 1,408 shares during the period. Arizona State Retirement System’s holdings in Archrock were worth $640,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Blackstone Inc. acquired a new position in Archrock during the third quarter worth $1,725,000. Envestnet Asset Management Inc. raised its holdings in Archrock by 110.5% during the third quarter. Envestnet Asset Management Inc. now owns 971,477 shares of the energy company’s stock worth $12,241,000 after buying an additional 509,862 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Archrock during the third quarter worth $620,000. Blue Trust Inc. raised its holdings in Archrock by 21.4% during the fourth quarter. Blue Trust Inc. now owns 16,512 shares of the energy company’s stock worth $254,000 after buying an additional 2,914 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Archrock during the third quarter worth $1,269,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Analysts Set New Price Targets

Separately, Royal Bank of Canada upped their price objective on shares of Archrock from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.67.

Archrock Stock Performance

NYSE AROC opened at $18.94 on Friday. Archrock, Inc. has a 1 year low of $8.78 and a 1 year high of $21.40. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.40 and a quick ratio of 0.86. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 2.80 and a beta of 1.59. The company has a fifty day moving average price of $18.77 and a 200-day moving average price of $15.94.

Archrock (NYSE:AROC) last posted its earnings results on Wednesday, February 21st. The energy company reported $0.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.21. Archrock had a net margin of 10.60% and a return on equity of 12.63%. The firm had revenue of $259.60 million during the quarter, compared to analyst estimates of $252.42 million. During the same quarter in the prior year, the business posted $0.07 EPS. The business’s revenue was up 18.6% compared to the same quarter last year. As a group, equities research analysts predict that Archrock, Inc. will post 0.99 EPS for the current fiscal year.

Archrock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Tuesday, February 6th were paid a $0.165 dividend. This is a positive change from Archrock’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Monday, February 5th. This represents a $0.66 annualized dividend and a dividend yield of 3.48%. Archrock’s dividend payout ratio is presently 98.51%.

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.