Cibc World Markets Corp Makes New Investment in Archrock, Inc. (NYSE:AROC)

Cibc World Markets Corp acquired a new stake in Archrock, Inc. (NYSE:AROC) in the 4th quarter, Holdings Channel reports. The fund acquired 15,618 shares of the energy company’s stock, valued at approximately $389,000.

Other hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Archrock in the fourth quarter worth approximately $36,241,000. State Street Corp lifted its holdings in shares of Archrock by 11.5% in the third quarter. State Street Corp now owns 6,836,745 shares of the energy company’s stock valued at $138,376,000 after buying an additional 707,379 shares during the period. HITE Hedge Asset Management LLC bought a new position in Archrock during the third quarter valued at about $10,939,000. Geode Capital Management LLC grew its holdings in Archrock by 16.0% during the third quarter. Geode Capital Management LLC now owns 3,794,981 shares of the energy company’s stock worth $76,826,000 after acquiring an additional 523,825 shares during the period. Finally, CHURCHILL MANAGEMENT Corp bought a new stake in Archrock in the fourth quarter worth about $11,072,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Archrock from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. JPMorgan Chase & Co. raised their target price on shares of Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $26.67.

Archrock Price Performance

AROC stock opened at $26.37 on Monday. Archrock, Inc. has a one year low of $17.27 and a one year high of $30.44. The firm has a 50-day moving average of $27.23 and a two-hundred day moving average of $24.34. The firm has a market capitalization of $4.62 billion, a PE ratio of 28.98, a P/E/G ratio of 1.60 and a beta of 1.56. 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. Investors of record on Wednesday, February 12th were paid a $0.19 dividend. This is a positive change from Archrock’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, February 12th. This represents a $0.76 dividend on an annualized basis and a yield of 2.88%. Archrock’s dividend payout ratio (DPR) 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.