Montag A & Associates Inc. Invests $55,000 in Archrock, Inc. (NYSE:AROC)

Montag A & Associates Inc. bought a new stake in shares of Archrock, Inc. (NYSE:AROC) during the 4th quarter, Holdings Channel reports. The institutional investor bought 2,209 shares of the energy company’s stock, valued at approximately $55,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AROC. State Street Corp increased 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 purchasing an additional 707,379 shares during the period. Geode Capital Management LLC increased its holdings in Archrock by 16.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,794,981 shares of the energy company’s stock worth $76,826,000 after buying an additional 523,825 shares during the period. Charles Schwab Investment Management Inc. raised its position in Archrock by 13.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,323,820 shares of the energy company’s stock worth $47,034,000 after buying an additional 274,763 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in Archrock by 1,680.2% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 1,530,440 shares of the energy company’s stock valued at $30,976,000 after acquiring an additional 1,444,471 shares during the period. Finally, Eagle Asset Management Inc. purchased a new stake in shares of Archrock in the 3rd quarter valued at $22,108,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on AROC shares. Royal Bank of Canada lifted their price objective on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. boosted their price target on Archrock from $25.00 to $27.00 and gave the company 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, Archrock presently has an average rating of “Moderate Buy” and an average target price of $25.17.

Archrock Stock Up 0.1 %

AROC stock opened at $27.60 on Tuesday. Archrock, Inc. has a 52 week low of $16.34 and a 52 week high of $30.44. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. The firm has a 50-day simple moving average of $27.00 and a 200-day simple moving average of $23.26. The stock has a market capitalization of $4.83 billion, a P/E ratio of 30.32, a P/E/G ratio of 1.70 and a beta of 1.57.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th will be issued a dividend of $0.19 per share. This is a positive change from Archrock’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.75%. Archrock’s dividend payout ratio is presently 76.92%.

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.