Summit Global Investments Makes New $1.43 Million Investment in Archrock, Inc. (NYSE:AROC)

Summit Global Investments acquired a new position in shares of Archrock, Inc. (NYSE:AROC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 57,323 shares of the energy company’s stock, valued at approximately $1,427,000.

Other hedge funds also recently made changes to their positions in the company. Atria Investments Inc grew its holdings in shares of Archrock by 17.4% during the fourth quarter. Atria Investments Inc now owns 38,313 shares of the energy company’s stock worth $954,000 after purchasing an additional 5,665 shares during the last quarter. Barclays PLC grew its holdings in shares of Archrock by 124.2% during the third quarter. Barclays PLC now owns 302,610 shares of the energy company’s stock worth $6,125,000 after purchasing an additional 167,648 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Archrock by 94.5% during the third quarter. JPMorgan Chase & Co. now owns 422,383 shares of the energy company’s stock worth $8,549,000 after buying an additional 205,241 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Archrock during the third quarter worth about $314,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Archrock by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,358,092 shares of the energy company’s stock worth $58,693,000 after buying an additional 34,272 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Archrock Price Performance

Shares of NYSE:AROC opened at $26.37 on Friday. 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 company has a market cap of $4.62 billion, a P/E ratio of 28.98, a PEG ratio of 1.60 and a beta of 1.56. Archrock, Inc. has a 52 week low of $17.27 and a 52 week high of $30.44. The company has a 50-day moving average price of $27.23 and a 200 day moving average price of $24.31.

Archrock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th were given a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.76 dividend on an annualized basis and a yield of 2.88%. This is an increase from Archrock’s previous quarterly dividend of $0.18. Archrock’s dividend payout ratio (DPR) is presently 73.08%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AROC shares. JPMorgan Chase & Co. raised their price target on Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Citigroup raised their price target on Archrock from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.67.

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.