Horizon Investment Services LLC Acquires Shares of 41,530 Archrock, Inc. (NYSE:AROC)

Horizon Investment Services LLC acquired a new stake in Archrock, Inc. (NYSE:AROC) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 41,530 shares of the energy company’s stock, valued at approximately $840,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AROC. USA Financial Formulas lifted its position in shares of Archrock by 4,483.8% during the 4th quarter. USA Financial Formulas now owns 1,696 shares of the energy company’s stock valued at $26,000 after acquiring an additional 1,659 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Archrock during the 1st quarter valued at $43,000. CWM LLC lifted its position in shares of Archrock by 382.0% during the 2nd quarter. CWM LLC now owns 3,591 shares of the energy company’s stock valued at $73,000 after acquiring an additional 2,846 shares during the period. GAMMA Investing LLC lifted its position in shares of 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 during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Archrock by 70.6% during the 1st quarter. Russell Investments Group Ltd. now owns 5,946 shares of the energy company’s stock valued at $117,000 after acquiring an additional 2,461 shares during the period. 95.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Archrock Stock Performance

NYSE:AROC opened at $19.38 on Friday. The company has a market capitalization of $3.03 billion, a PE ratio of 23.35 and a beta of 1.51. The company has a 50 day simple moving average of $20.37 and a two-hundred day simple moving average of $19.75. 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 fifty-two week low of $11.73 and a fifty-two week high of $23.44.

Archrock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Tuesday, August 6th. Archrock’s dividend payout ratio is presently 79.52%.

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.