Sawgrass Asset Management LLC Has $208,000 Holdings in Archrock, Inc. (NYSE:AROC)

Sawgrass Asset Management LLC cut its holdings in Archrock, Inc. (NYSE:AROC) by 6.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,290 shares of the energy company’s stock after selling 704 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Archrock were worth $208,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Archrock by 4.9% during the first quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company’s stock valued at $360,385,000 after purchasing an additional 849,750 shares in the last quarter. Earnest Partners LLC boosted its stake in shares of Archrock by 2.6% during the first quarter. Earnest Partners LLC now owns 14,007,955 shares of the energy company’s stock valued at $275,536,000 after purchasing an additional 351,391 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Archrock by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,624,601 shares of the energy company’s stock valued at $163,620,000 after purchasing an additional 145,397 shares in the last quarter. Blackstone Inc. boosted its stake in shares of Archrock by 4,211.9% during the fourth quarter. Blackstone Inc. now owns 5,903,142 shares of the energy company’s stock valued at $90,908,000 after purchasing an additional 5,766,237 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Archrock by 5.8% during the first quarter. Sei Investments Co. now owns 5,409,863 shares of the energy company’s stock valued at $106,412,000 after purchasing an additional 295,998 shares in the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AROC shares. Stifel Nicolaus lifted their price target on Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. StockNews.com downgraded Archrock from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $22.00 price objective on shares of Archrock in a research report on Wednesday, August 7th.

Archrock Trading Up 1.4 %

Shares of AROC traded up $0.27 during mid-day trading on Friday, reaching $19.61. 1,162,252 shares of the company were exchanged, compared to its average volume of 1,512,564. The stock has a market capitalization of $3.06 billion, a PE ratio of 23.61, a PEG ratio of 1.56 and a beta of 1.53. The business has a 50 day simple moving average of $20.22 and a two-hundred day simple moving average of $19.43. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.53. Archrock, Inc. has a 52 week low of $11.73 and a 52 week high of $23.44.

Archrock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were issued a $0.165 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.66 dividend on an annualized basis and a yield of 3.37%. Archrock’s payout ratio is currently 79.52%.

Archrock Company 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.