Charles Schwab Investment Management Inc. Boosts Stake in Archrock, Inc. (NYSE:AROC)

Charles Schwab Investment Management Inc. raised its holdings in Archrock, Inc. (NYSE:AROC) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,358,092 shares of the energy company’s stock after purchasing an additional 34,272 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.35% of Archrock worth $58,693,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AROC. Brown Brothers Harriman & Co. purchased a new stake in Archrock in the third quarter valued at $28,000. Wolverine Asset Management LLC raised its position in Archrock by 111.8% in the fourth quarter. Wolverine Asset Management LLC now owns 1,504 shares of the energy company’s stock valued at $37,000 after purchasing an additional 14,200 shares during the period. Continuum Advisory LLC raised its position in Archrock by 5,621.6% in the third quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company’s stock valued at $43,000 after purchasing an additional 2,080 shares during the period. Millburn Ridgefield Corp purchased a new stake in Archrock in the third quarter valued at $50,000. Finally, Montag A & Associates Inc. purchased a new stake in Archrock in the fourth quarter valued at $55,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. lifted their price objective on Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Royal Bank of Canada increased their target price on Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $25.17.

Archrock Stock Up 1.5 %

Shares of AROC opened at $24.41 on Thursday. The stock has a market capitalization of $4.28 billion, a PE ratio of 26.83, a P/E/G ratio of 1.60 and a beta of 1.56. Archrock, Inc. has a 1 year low of $17.26 and a 1 year high of $30.44. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. The company’s 50-day simple moving average is $27.22 and its 200-day simple moving average is $24.02.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Wednesday, February 12th. This is a boost from Archrock’s previous quarterly dividend of $0.18. Archrock’s dividend payout ratio is currently 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.