Arizona State Retirement System Purchases 821 Shares of Archrock, Inc. (NYSE:AROC)

Arizona State Retirement System grew its position in shares of Archrock, Inc. (NYSE:AROC) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,565 shares of the energy company’s stock after acquiring an additional 821 shares during the period. Arizona State Retirement System’s holdings in Archrock were worth $840,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Archrock in the 1st quarter worth about $43,000. CWM LLC lifted its holdings in Archrock by 382.0% in the second quarter. CWM LLC now owns 3,591 shares of the energy company’s stock worth $73,000 after buying an additional 2,846 shares during the period. GAMMA Investing LLC boosted its position in Archrock by 16.6% during the 2nd quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock valued at $82,000 after acquiring an additional 578 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Archrock by 70.6% in the 1st quarter. Russell Investments Group Ltd. now owns 5,946 shares of the energy company’s stock worth $117,000 after acquiring an additional 2,461 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Archrock in the 1st quarter valued at approximately $133,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AROC shares. Stifel Nicolaus increased their price objective on Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. StockNews.com lowered shares of Archrock from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 target price on shares of Archrock in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. assumed coverage on Archrock in a research report on Friday, September 6th. They issued an “overweight” rating and a $24.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

Archrock Stock Performance

NYSE:AROC opened at $19.37 on Friday. The stock has a 50-day simple moving average of $20.17 and a two-hundred day simple moving average of $19.80. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.94 and a current ratio of 1.53. Archrock, Inc. has a 52-week low of $11.73 and a 52-week high of $23.44. The firm has a market capitalization of $3.27 billion, a PE ratio of 23.34 and a beta of 1.51.

Archrock (NYSE:AROC) last issued its earnings results on Tuesday, July 30th. The energy company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. Archrock had a net margin of 13.20% and a return on equity of 16.35%. The company had revenue of $270.53 million during the quarter, compared to the consensus estimate of $270.61 million. Analysts forecast that Archrock, Inc. will post 1.07 EPS for the current year.

Archrock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Tuesday, August 6th. Archrock’s dividend payout ratio (DPR) is presently 79.52%.

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.