Archrock, Inc. (NYSE:AROC) Stock Position Increased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its position in Archrock, Inc. (NYSE:AROC) by 4.7% during the 4th quarter, HoldingsChannel reports. The firm owned 86,620 shares of the energy company’s stock after buying an additional 3,923 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Archrock were worth $2,156,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of AROC. Brown Brothers Harriman & Co. bought a new stake in Archrock in the 3rd quarter valued at about $28,000. Wolverine Asset Management LLC increased its stake in Archrock by 111.8% during the 4th quarter. Wolverine Asset Management LLC now owns 1,504 shares of the energy company’s stock valued at $37,000 after buying an additional 14,200 shares during the period. Continuum Advisory LLC increased its stake in Archrock by 5,621.6% during the 3rd quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company’s stock valued at $43,000 after buying an additional 2,080 shares during the period. Millburn Ridgefield Corp acquired a new position in Archrock during the 3rd quarter valued at about $50,000. Finally, Montag A & Associates Inc. acquired a new position in Archrock during the 4th quarter valued at about $55,000. 95.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of 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 raised their target price on shares of Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and six have issued 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 target price of $25.17.

Archrock Stock Performance

Shares of AROC opened at $27.12 on Friday. The firm’s 50 day moving average is $27.23 and its 200-day moving average is $23.66. The stock has a market capitalization of $4.75 billion, a P/E ratio of 29.80, a P/E/G ratio of 1.60 and a beta of 1.57. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82. Archrock, Inc. has a 12-month low of $17.26 and a 12-month high of $30.44.

Archrock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th were paid a $0.19 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.76 annualized dividend and a dividend yield of 2.80%. This is a boost from Archrock’s previous quarterly dividend of $0.18. Archrock’s payout ratio is currently 73.08%.

Archrock Company 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.