Algert Global LLC Reduces Stock Holdings in Archrock, Inc. (NYSE:AROC)

Algert Global LLC lowered its stake in shares of Archrock, Inc. (NYSE:AROC) by 17.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 469,771 shares of the energy company’s stock after selling 97,469 shares during the quarter. Algert Global LLC’s holdings in Archrock were worth $9,508,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in 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 acquiring an additional 849,750 shares during the last quarter. Earnest Partners LLC raised its position in Archrock by 2.6% in the 1st quarter. Earnest Partners LLC now owns 14,007,955 shares of the energy company’s stock worth $275,536,000 after purchasing an additional 351,391 shares during the period. American Century Companies Inc. lifted its stake in Archrock by 20.5% in the second quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company’s stock worth $80,036,000 after purchasing an additional 672,663 shares during the last quarter. Energy Income Partners LLC boosted its position in shares of Archrock by 4.9% during the first quarter. Energy Income Partners LLC now owns 2,468,897 shares of the energy company’s stock valued at $48,563,000 after buying an additional 116,298 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Archrock by 60.3% during the second quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company’s stock valued at $47,389,000 after buying an additional 882,024 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Archrock Stock Performance

AROC stock opened at $25.85 on Friday. Archrock, Inc. has a 1-year low of $13.95 and a 1-year high of $26.36. The business has a 50-day moving average price of $21.39 and a 200 day moving average price of $20.47. The company has a market capitalization of $4.53 billion, a P/E ratio of 28.41 and a beta of 1.52. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82.

Archrock (NYSE:AROC) last posted its earnings results on Monday, November 11th. The energy company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The business had revenue of $292.16 million for the quarter, compared to the consensus estimate of $286.19 million. During the same quarter last year, the firm posted $0.20 EPS. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, equities research analysts forecast that Archrock, Inc. will post 1.09 EPS for the current fiscal year.

Archrock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were paid a $0.175 dividend. This is an increase from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.70 dividend on an annualized basis and a yield of 2.71%. Archrock’s payout ratio is 76.92%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Citigroup started coverage on Archrock in a research note on Friday, September 27th. They set a “buy” rating and a $24.00 price target for the company. Mizuho started coverage on Archrock in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 target price for the company. Royal Bank of Canada upped their price target on shares of Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. started coverage on shares of Archrock in a report on Friday, September 6th. They set an “overweight” rating and a $24.00 price objective for the company. Finally, Evercore ISI assumed coverage on shares of Archrock in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 target price on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.67.

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.