Maryland State Retirement & Pension System Has $1.47 Million Stock Holdings in Archrock, Inc. (NYSE:AROC)

Maryland State Retirement & Pension System raised its holdings in shares of Archrock, Inc. (NYSE:AROC) by 3.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,991 shares of the energy company’s stock after purchasing an additional 1,942 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Archrock were worth $1,468,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Brown Brothers Harriman & Co. acquired a new stake in Archrock during the 3rd quarter valued at $28,000. Wolverine Asset Management LLC lifted its holdings in Archrock by 111.8% during the 4th quarter. Wolverine Asset Management LLC now owns 1,504 shares of the energy company’s stock valued at $37,000 after purchasing an additional 14,200 shares during the last quarter. Continuum Advisory LLC lifted its holdings in Archrock by 5,621.6% during the 3rd quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company’s stock valued at $43,000 after purchasing an additional 2,080 shares during the last quarter. Montag A & Associates Inc. acquired a new stake in Archrock during the 4th quarter valued at $55,000. Finally, Millburn Ridgefield Corp bought a new position in Archrock during the 3rd quarter worth $50,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Archrock Stock Down 1.2 %

Shares of NYSE AROC opened at $26.37 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. Archrock, Inc. has a 52 week low of $17.27 and a 52 week high of $30.44. The stock has a market capitalization of $4.62 billion, a P/E ratio of 28.98, a PEG ratio of 1.60 and a beta of 1.56. The stock’s fifty day moving average is $27.23 and its 200 day moving average is $24.31.

Archrock Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AROC. Citigroup increased their price objective on Archrock from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. JPMorgan Chase & Co. increased their price objective on Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.67.

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.