Municipal Employees Retirement System of Michigan boosted its position in Archrock, Inc. (NYSE:AROC) by 2.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,440 shares of the company’s stock after buying an additional 340 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Archrock were worth $202,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of AROC. Stifel Financial Corp bought a new position in shares of Archrock during the second quarter worth approximately $108,000. Mason Street Advisors LLC bought a new position in shares of Archrock during the second quarter worth approximately $128,000. Legal & General Group Plc increased its position in shares of Archrock by 22.7% in the second quarter. Legal & General Group Plc now owns 14,762 shares of the company’s stock worth $136,000 after buying an additional 2,733 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Archrock by 4,814.9% in the third quarter. PNC Financial Services Group Inc. now owns 16,858 shares of the company’s stock worth $221,000 after buying an additional 16,515 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Archrock by 186.4% in the second quarter. BlackRock Inc. now owns 20,158 shares of the company’s stock worth $189,000 after buying an additional 13,119 shares during the last quarter. Institutional investors and hedge funds own 88.23% of the company’s stock.
Archrock, Inc. (NYSE:AROC) traded up 0.34% on Friday, hitting $14.85. The company’s stock had a trading volume of 699,426 shares. Archrock, Inc. has a 1-year low of $3.41 and a 1-year high of $15.70. The company’s market capitalization is $1.02 billion. The company has a 50 day moving average price of $14.19 and a 200-day moving average price of $12.29.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Wednesday, February 8th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, February 6th. This represents a $0.48 dividend on an annualized basis and a yield of 3.23%. Archrock’s payout ratio is currently -30.77%.
AROC has been the subject of a number of research reports. Zacks Investment Research upgraded Archrock from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Monday, October 3rd. Capital One Financial Corporation raised Archrock from an “equal weight” rating to an “overweight” rating in a report on Monday, November 14th. Scotiabank cut Archrock to a “hold” rating in a report on Thursday, December 15th. Finally, J P Morgan Chase & Co began coverage on Archrock in a report on Friday, January 6th. They set a “neutral” rating and a $13.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $11.19.
Archrock Company Profile
Archrock, Inc, formerly Exterran Holdings, Inc, is a natural gas contract operations services company. The Company also provides natural gas compression services to customers in the oil and natural gas industry throughout the United States and supplies aftermarket services to customers that own compression equipment in the United States.
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