Victory Capital Management Inc. Has $12.43 Million Stock Position in Archrock, Inc. (NYSE:AROC)

Victory Capital Management Inc. lessened its position in shares of Archrock, Inc. (NYSE:AROC) by 14.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 499,225 shares of the energy company’s stock after selling 81,091 shares during the quarter. Victory Capital Management Inc. owned approximately 0.29% of Archrock worth $12,426,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of AROC. Amalgamated Bank lifted its position in Archrock by 17.7% in the third quarter. Amalgamated Bank now owns 49,513 shares of the energy company’s stock worth $1,002,000 after purchasing an additional 7,437 shares during the period. Principal Financial Group Inc. raised its stake in shares of Archrock by 24.4% in the 3rd quarter. Principal Financial Group Inc. now owns 853,295 shares of the energy company’s stock valued at $17,271,000 after buying an additional 167,510 shares in the last quarter. Atria Investments Inc lifted its holdings in shares of Archrock by 2.3% during the 3rd quarter. Atria Investments Inc now owns 32,648 shares of the energy company’s stock worth $661,000 after acquiring an additional 746 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in shares of Archrock during the 3rd quarter valued at about $200,000. Finally, State of New Jersey Common Pension Fund D increased its stake in Archrock by 2.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 97,330 shares of the energy company’s stock valued at $1,970,000 after acquiring an additional 2,343 shares during the period. 95.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AROC. JPMorgan Chase & Co. raised their price target on shares of Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Royal Bank of Canada raised their target price on Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Archrock currently has an average rating of “Moderate Buy” and a consensus target price of $25.17.

Archrock Price Performance

Shares of Archrock stock opened at $24.41 on Thursday. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 1.60 and a beta of 1.56. The firm’s 50-day moving average price is $27.22 and its two-hundred day moving average price is $24.02. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. Archrock, Inc. has a 1-year low of $17.26 and a 1-year high of $30.44.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th were paid a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This is a positive change from Archrock’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.11%. Archrock’s dividend payout ratio (DPR) 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.