Fisher Asset Management LLC Makes New $752,000 Investment in Archrock, Inc. (NYSE:AROC)

Fisher Asset Management LLC bought a new position in Archrock, Inc. (NYSE:AROC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 48,805 shares of the energy company’s stock, valued at approximately $752,000.

A number of other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its stake in shares of Archrock by 171.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,332,058 shares of the energy company’s stock worth $20,514,000 after acquiring an additional 841,366 shares during the last quarter. Bridgeway Capital Management LLC grew its stake in shares of Archrock by 2.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 927,031 shares of the energy company’s stock worth $14,276,000 after acquiring an additional 22,039 shares during the last quarter. Blackstone Inc. grew its stake in shares of Archrock by 4,211.9% during the fourth quarter. Blackstone Inc. now owns 5,903,142 shares of the energy company’s stock worth $90,908,000 after acquiring an additional 5,766,237 shares during the last quarter. Tortoise Index Solutions LLC grew its stake in shares of Archrock by 4.8% during the fourth quarter. Tortoise Index Solutions LLC now owns 270,964 shares of the energy company’s stock worth $4,173,000 after acquiring an additional 12,325 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Archrock by 37.7% during the fourth quarter. Sei Investments Co. now owns 5,113,865 shares of the energy company’s stock worth $78,753,000 after acquiring an additional 1,399,309 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors.

Archrock Price Performance

Shares of NYSE AROC opened at $18.96 on Monday. The business’s 50 day moving average price is $19.65 and its 200 day moving average price is $18.01. The firm has a market cap of $2.96 billion, a P/E ratio of 22.84, a P/E/G ratio of 1.48 and a beta of 1.57. Archrock, Inc. has a 52 week low of $9.57 and a 52 week high of $21.60. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 1.78.

Archrock (NYSE:AROC) last released its quarterly earnings data on Wednesday, May 1st. The energy company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. Archrock had a return on equity of 15.30% and a net margin of 12.54%. The business had revenue of $268.49 million for the quarter, compared to analyst estimates of $260.51 million. During the same quarter in the prior year, the firm posted $0.10 EPS. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, sell-side analysts expect that Archrock, Inc. will post 1.07 earnings per share for the current year.

Archrock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, May 7th were given a $0.165 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.66 annualized dividend and a yield of 3.48%. Archrock’s dividend payout ratio is presently 79.52%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AROC shares. Stifel Nicolaus boosted their price target on Archrock from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Royal Bank of Canada upped their target price on Archrock from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Finally, StockNews.com lowered Archrock from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.67.

About Archrock

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.