Harvest Fund Management Co. Ltd Purchases New Stake in Archrock, Inc. (NYSE:AROC)

Harvest Fund Management Co. Ltd purchased a new stake in shares of Archrock, Inc. (NYSE:AROC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,500 shares of the energy company’s stock, valued at approximately $311,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Brown Brothers Harriman & Co. bought a new position in Archrock during the 3rd quarter worth $28,000. Wolverine Asset Management LLC grew its stake in Archrock by 111.8% during the 4th quarter. Wolverine Asset Management LLC now owns 1,504 shares of the energy company’s stock worth $37,000 after buying an additional 14,200 shares during the last quarter. Continuum Advisory LLC grew its stake in Archrock by 5,621.6% during the 3rd quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company’s stock worth $43,000 after buying an additional 2,080 shares during the last quarter. Montag A & Associates Inc. bought a new position in Archrock during the 4th quarter worth $55,000. Finally, Millburn Ridgefield Corp bought a new position in Archrock during the 3rd quarter worth $50,000. 95.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Citigroup upped their price objective on Archrock from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday. One investment 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.67.

Archrock Trading Down 1.2 %

Shares of AROC stock opened at $26.37 on Friday. The stock has a 50-day simple moving average of $27.23 and a 200 day simple moving average of $24.27. Archrock, Inc. has a fifty-two week low of $17.27 and a fifty-two week high of $30.44. The stock has a market capitalization of $4.62 billion, a P/E ratio of 28.98, a P/E/G ratio of 1.60 and a beta of 1.56. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73.

Archrock Increases Dividend

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

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.