Avantax Advisory Services Inc. Trims Stock Holdings in Archrock, Inc. (NYSE:AROC)

Avantax Advisory Services Inc. lowered its position in Archrock, Inc. (NYSE:AROC) by 20.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,867 shares of the energy company’s stock after selling 22,601 shares during the quarter. Avantax Advisory Services Inc. owned approximately 0.05% of Archrock worth $2,212,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atria Investments Inc increased its holdings in shares of Archrock by 17.4% in the fourth quarter. Atria Investments Inc now owns 38,313 shares of the energy company’s stock valued at $954,000 after purchasing an additional 5,665 shares during the period. Barclays PLC increased its holdings in shares of Archrock by 124.2% in the third quarter. Barclays PLC now owns 302,610 shares of the energy company’s stock valued at $6,125,000 after purchasing an additional 167,648 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Archrock by 94.5% in the third quarter. JPMorgan Chase & Co. now owns 422,383 shares of the energy company’s stock valued at $8,549,000 after purchasing an additional 205,241 shares during the period. Verition Fund Management LLC acquired a new position in shares of Archrock in the third quarter valued at approximately $314,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Archrock in the third quarter valued at approximately $200,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. boosted their target price on Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, November 29th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Archrock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.17.

Archrock Trading Up 3.7 %

Shares of AROC stock opened at $24.96 on Monday. The business’s fifty day moving average price is $27.17 and its 200 day moving average price is $24.11. Archrock, Inc. has a 1-year low of $17.27 and a 1-year high of $30.44. The firm has a market capitalization of $4.37 billion, a PE ratio of 27.42, a P/E/G ratio of 1.60 and a beta of 1.56. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.05%. 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. Archrock’s dividend payout ratio is currently 73.08%.

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.