Clearbridge Investments LLC Invests $17.25 Million in Archrock, Inc. (NYSE:AROC)

Clearbridge Investments LLC purchased a new stake in Archrock, Inc. (NYSE:AROC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 692,924 shares of the energy company’s stock, valued at approximately $17,247,000. Clearbridge Investments LLC owned approximately 0.40% of Archrock as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AROC. Wolverine Asset Management LLC raised its stake in shares of 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 period. Continuum Advisory LLC raised its position in Archrock by 5,621.6% during the third quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company’s stock worth $43,000 after acquiring an additional 2,080 shares during the period. Montag A & Associates Inc. purchased a new position in Archrock during the fourth quarter valued at $55,000. Millburn Ridgefield Corp acquired a new stake in shares of Archrock in the third quarter valued at about $50,000. Finally, R Squared Ltd purchased a new stake in shares of Archrock during the fourth quarter worth about $76,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Citigroup boosted their price objective on Archrock from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Archrock has a consensus rating of “Moderate Buy” and an average target price of $26.67.

Archrock Trading Up 2.6 %

AROC opened at $27.17 on Thursday. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 29.86, a price-to-earnings-growth ratio of 1.60 and a beta of 1.56. The company’s 50 day simple moving average is $26.84 and its two-hundred day simple moving average is $24.74. Archrock, Inc. has a 1-year low of $17.27 and a 1-year high of $30.44. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82.

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th were paid a dividend of $0.19 per share. The ex-dividend date was Wednesday, February 12th. This represents a $0.76 dividend on an annualized basis and a yield of 2.80%. This is a positive change from Archrock’s previous quarterly dividend of $0.18. Archrock’s payout ratio is 73.08%.

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.