Public Sector Pension Investment Board Purchases 83,094 Shares of Archrock, Inc. $AROC

Public Sector Pension Investment Board grew its holdings in Archrock, Inc. (NYSE:AROC) by 13.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 685,850 shares of the energy company’s stock after purchasing an additional 83,094 shares during the quarter. Public Sector Pension Investment Board owned about 0.39% of Archrock worth $18,045,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB increased its position in Archrock by 164.5% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,082 shares of the energy company’s stock worth $28,000 after buying an additional 673 shares during the period. Salomon & Ludwin LLC bought a new position in Archrock during the third quarter worth $34,000. Jones Financial Companies Lllp raised its stake in Archrock by 217.9% during the 1st quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company’s stock valued at $35,000 after purchasing an additional 902 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Archrock by 49.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,640 shares of the energy company’s stock valued at $43,000 after purchasing an additional 546 shares during the last quarter. Finally, Motco bought a new stake in Archrock in the 2nd quarter valued at $57,000. 95.45% of the stock is currently owned by institutional investors.

Archrock Stock Performance

NYSE AROC opened at $32.69 on Friday. Archrock, Inc. has a twelve month low of $20.12 and a twelve month high of $33.00. The company has a quick ratio of 1.01, a current ratio of 1.56 and a debt-to-equity ratio of 1.80. The stock has a market cap of $5.73 billion, a P/E ratio of 21.79, a PEG ratio of 1.40 and a beta of 0.93. The company’s 50-day simple moving average is $27.40 and its 200 day simple moving average is $25.48.

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 18th. Shareholders of record on Tuesday, February 10th will be paid a dividend of $0.22 per share. This is an increase from Archrock’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, February 10th. Archrock’s dividend payout ratio is currently 58.67%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Archrock from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Evercore lifted their target price on Archrock from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Royal Bank Of Canada boosted their price target on Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Archrock in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $32.40.

Archrock Profile

Archrock, Inc is a Houston‐based provider of natural gas compression services and equipment to the oil and gas industry in North America. Founded in 2004, the company supplies both short‐term rentals and long‐term contracts for compression solutions, serving upstream and midstream producers. Archrock’s offerings include engineered compression systems, aftermarket parts, maintenance and field services designed to optimize wellhead and pipeline operations.

The company’s core business activities focus on the design, manufacture, rental and sale of gas compression equipment.