Horizon Investment Services LLC Invests $840,000 in Archrock, Inc. (NYSE:AROC)

Horizon Investment Services LLC acquired a new position in shares of Archrock, Inc. (NYSE:AROC) in the 2nd quarter, HoldingsChannel reports. The fund acquired 41,530 shares of the energy company’s stock, valued at approximately $840,000.

Several other large investors also recently modified their holdings of the stock. GAMMA Investing LLC lifted 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Archrock by 0.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 84,245 shares of the energy company’s stock worth $1,658,000 after purchasing an additional 710 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Archrock by 6.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,373 shares of the energy company’s stock worth $230,000 after purchasing an additional 713 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Archrock by 2.2% in the 2nd quarter. Van ECK Associates Corp now owns 35,280 shares of the energy company’s stock worth $713,000 after purchasing an additional 753 shares in the last quarter. Finally, Shell Asset Management Co. lifted its holdings in shares of Archrock by 7.5% in the 1st quarter. Shell Asset Management Co. now owns 14,342 shares of the energy company’s stock worth $282,000 after purchasing an additional 1,004 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on AROC shares. StockNews.com cut Archrock from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. JPMorgan Chase & Co. started coverage on Archrock in a research note on Friday. They set an “overweight” rating and a $24.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and set a $22.00 price objective on shares of Archrock in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus raised their price objective on Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.50.

Archrock Price Performance

Shares of NYSE:AROC opened at $19.38 on Friday. The stock has a market cap of $3.03 billion, a PE ratio of 23.35 and a beta of 1.51. Archrock, Inc. has a 1-year low of $11.73 and a 1-year high of $23.44. The company has a current ratio of 1.53, a quick ratio of 0.94 and a debt-to-equity ratio of 1.80. The stock’s fifty day simple moving average is $20.37 and its two-hundred day simple moving average is $19.75.

Archrock Dividend Announcement

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

About Archrock

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.