Raymond James Financial Inc. Makes New Investment in Archrock, Inc. (NYSE:AROC)

Raymond James Financial Inc. acquired a new stake in Archrock, Inc. (NYSE:AROC) in the 4th quarter, Holdings Channel reports. The firm acquired 1,456,059 shares of the energy company’s stock, valued at approximately $36,241,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. B. Riley Wealth Advisors Inc. grew its position in Archrock by 0.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 50,654 shares of the energy company’s stock worth $1,025,000 after purchasing an additional 427 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Archrock by 1.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 48,091 shares of the energy company’s stock valued at $1,197,000 after buying an additional 796 shares during the period. Yousif Capital Management LLC grew its position in Archrock by 1.6% during the fourth quarter. Yousif Capital Management LLC now owns 66,087 shares of the energy company’s stock worth $1,645,000 after buying an additional 1,047 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Archrock by 1.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 61,383 shares of the energy company’s stock valued at $1,528,000 after acquiring an additional 1,108 shares during the period. Finally, Mutual of America Capital Management LLC raised its holdings in Archrock by 4.4% in the 4th quarter. Mutual of America Capital Management LLC now owns 26,534 shares of the energy company’s stock valued at $660,000 after acquiring an additional 1,126 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Archrock Trading Up 0.1 %

Shares of AROC opened at $23.56 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. The stock has a market cap of $4.13 billion, a PE ratio of 25.89, a PEG ratio of 1.60 and a beta of 1.25. Archrock, Inc. has a 1 year low of $17.27 and a 1 year high of $30.44. The stock has a 50 day simple moving average of $25.41 and a 200-day simple moving average of $24.86.

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th were paid a dividend of $0.19 per share. This is a positive change from Archrock’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 3.23%. The ex-dividend date was Wednesday, February 12th. Archrock’s dividend payout ratio is currently 73.08%.

Wall Street Analysts Forecast Growth

Separately, Citigroup boosted their price objective on Archrock from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Archrock has an average rating of “Moderate Buy” and a consensus price target of $26.67.

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.