Public Sector Pension Investment Board Purchases 55,862 Shares of Archrock, Inc. (NYSE:AROC)

Public Sector Pension Investment Board grew its position in shares of Archrock, Inc. (NYSE:AROC) by 18.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 358,436 shares of the energy company’s stock after acquiring an additional 55,862 shares during the quarter. Public Sector Pension Investment Board owned about 0.21% of Archrock worth $7,255,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Brown Brothers Harriman & Co. purchased a new position in shares of Archrock in the 3rd quarter worth $28,000. Wolff Wiese Magana LLC purchased a new position in Archrock in the third quarter worth about $30,000. Quarry LP bought a new stake in Archrock during the second quarter worth approximately $52,000. CWM LLC raised its position in Archrock by 382.0% during the second quarter. CWM LLC now owns 3,591 shares of the energy company’s stock valued at $73,000 after purchasing an additional 2,846 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Archrock by 16.6% in the 2nd quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock worth $82,000 after purchasing an additional 578 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AROC. Evercore ISI started coverage on Archrock in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price target for the company. JPMorgan Chase & Co. lifted their price target on shares of Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday. Mizuho started coverage on shares of Archrock in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price objective on the stock. Royal Bank of Canada upped their target price on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Finally, Citigroup began coverage on Archrock in a research note on Friday, September 27th. They set a “buy” rating and a $24.00 price target for the company. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.17.

Archrock Stock Up 2.8 %

Shares of NYSE AROC opened at $25.62 on Friday. Archrock, Inc. has a 52-week low of $14.14 and a 52-week high of $26.36. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 28.15 and a beta of 1.52. The stock has a 50 day moving average price of $22.00 and a 200 day moving average price of $20.69. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26.

Archrock (NYSE:AROC) last issued its earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $292.16 million during the quarter, compared to analysts’ expectations of $286.19 million. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.20 EPS. Sell-side analysts expect that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were issued a $0.175 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $0.70 annualized dividend and a dividend yield of 2.73%. This is a positive change from Archrock’s previous quarterly dividend of $0.17. Archrock’s payout ratio is currently 76.92%.

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.