Doheny Asset Management CA Has $1.07 Million Stake in Archrock, Inc. (NYSE:AROC)

Doheny Asset Management CA raised its stake in Archrock, Inc. (NYSE:AROC) by 96.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,800 shares of the energy company’s stock after buying an additional 25,900 shares during the quarter. Doheny Asset Management CA’s holdings in Archrock were worth $1,068,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in shares of Archrock by 16.6% during the second quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock worth $82,000 after purchasing an additional 578 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Archrock by 0.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 84,245 shares of the energy company’s stock worth $1,658,000 after buying an additional 710 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Archrock by 6.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,373 shares of the energy company’s stock worth $230,000 after buying an additional 713 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Archrock by 2.2% during the second quarter. Van ECK Associates Corp now owns 35,280 shares of the energy company’s stock worth $713,000 after buying an additional 753 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Archrock by 2.0% during the second quarter. Arizona State Retirement System now owns 41,565 shares of the energy company’s stock worth $840,000 after buying an additional 821 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Archrock Stock Performance

Shares of NYSE AROC opened at $18.50 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 0.94 and a debt-to-equity ratio of 1.80. Archrock, Inc. has a 12 month low of $11.73 and a 12 month high of $23.44. The stock has a 50 day moving average of $20.33 and a 200-day moving average of $19.79. The company has a market capitalization of $3.12 billion, a P/E ratio of 22.28 and a beta of 1.51.

Archrock Announces Dividend

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. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.66 annualized dividend and a dividend yield of 3.57%. Archrock’s dividend payout ratio is currently 79.52%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AROC. StockNews.com downgraded Archrock from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Stifel Nicolaus increased their price objective on Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. began coverage on Archrock in a research note on Friday. They issued an “overweight” rating and a $24.00 price target for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $22.00 price target on shares of Archrock in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Archrock has a consensus rating of “Moderate Buy” and an average price target of $21.50.

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.