New York State Teachers Retirement System Raises Stock Position in Archrock, Inc. (NYSE:AROC)

New York State Teachers Retirement System boosted its position in shares of Archrock, Inc. (NYSE:AROC) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,289 shares of the energy company’s stock after acquiring an additional 2,800 shares during the period. New York State Teachers Retirement System owned 0.10% of Archrock worth $3,204,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of AROC. Allspring Global Investments Holdings LLC purchased a new position in Archrock during the first quarter valued at approximately $43,000. BNP Paribas Financial Markets grew its stake in Archrock by 77.2% during the first quarter. BNP Paribas Financial Markets now owns 69,992 shares of the energy company’s stock valued at $1,377,000 after acquiring an additional 30,493 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Archrock by 9.0% during the first quarter. Janney Montgomery Scott LLC now owns 13,065 shares of the energy company’s stock valued at $257,000 after acquiring an additional 1,079 shares in the last quarter. Texas Permanent School Fund Corp grew its stake in Archrock by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 120,191 shares of the energy company’s stock valued at $2,364,000 after acquiring an additional 1,607 shares in the last quarter. Finally, Duality Advisers LP purchased a new position in Archrock during the first quarter valued at approximately $372,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Evercore ISI assumed coverage on shares of Archrock in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price target for the company. JPMorgan Chase & Co. assumed coverage on shares of Archrock in a research note on Friday, September 6th. They issued an “overweight” rating and a $24.00 price target for the company. Citigroup assumed coverage on shares of Archrock in a research note on Friday, September 27th. They issued a “buy” rating and a $24.00 price target for the company. Royal Bank of Canada boosted their price target on shares of Archrock from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Mizuho assumed coverage on shares of Archrock in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price target for the company. One research analyst has rated the stock with a hold rating and six have issued 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 price target of $24.50.

Archrock Trading Up 12.0 %

Shares of AROC opened at $22.84 on Thursday. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 25.66 and a beta of 1.52. 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 $13.15 and a fifty-two week high of $23.44. The firm has a 50 day moving average price of $20.40 and a 200-day moving average price of $20.17.

Archrock Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.06%. This is a positive change from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, November 6th. Archrock’s payout ratio is presently 74.16%.

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.