Covestor Ltd Grows Position in Archrock, Inc. (NYSE:AROC)

Covestor Ltd raised its stake in shares of Archrock, Inc. (NYSE:AROC) by 580.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,485 shares of the energy company’s stock after purchasing an additional 3,826 shares during the period. Covestor Ltd’s holdings in Archrock were worth $111,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wolverine Asset Management LLC boosted its holdings in Archrock by 111.8% in the 4th quarter. Wolverine Asset Management LLC now owns 1,504 shares of the energy company’s stock worth $37,000 after buying an additional 14,200 shares during the period. Montag A & Associates Inc. bought a new position in shares of Archrock in the fourth quarter worth about $55,000. R Squared Ltd purchased a new stake in shares of Archrock during the fourth quarter worth about $76,000. Hantz Financial Services Inc. purchased a new stake in shares of Archrock during the fourth quarter worth about $107,000. Finally, Steph & Co. bought a new stake in Archrock during the 4th quarter valued at approximately $129,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Archrock Trading Up 2.1 %

Shares of AROC stock opened at $22.78 on Friday. The stock’s 50-day moving average price is $25.70 and its 200-day moving average price is $24.82. Archrock, Inc. has a 12-month low of $17.27 and a 12-month high of $30.44. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 25.04, a price-to-earnings-growth ratio of 1.60 and a beta of 1.25. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73.

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 issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.34%. This is a boost from Archrock’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, February 12th. Archrock’s dividend payout ratio is 73.08%.

Analyst Ratings Changes

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

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.