Archrock, Inc. (NYSE:AROC) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lessened its stake in Archrock, Inc. (NYSE:AROC) by 54.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,680 shares of the energy company’s stock after selling 10,237 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Archrock were worth $216,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Archrock during the 4th quarter worth $36,241,000. State Street Corp increased its position in Archrock by 11.5% during the third quarter. State Street Corp now owns 6,836,745 shares of the energy company’s stock worth $138,376,000 after purchasing an additional 707,379 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Archrock by 135.1% during the fourth quarter. JPMorgan Chase & Co. now owns 993,063 shares of the energy company’s stock worth $24,717,000 after purchasing an additional 570,680 shares during the period. HITE Hedge Asset Management LLC acquired a new position in Archrock in the 3rd quarter valued at about $10,939,000. Finally, Norges Bank acquired a new stake in shares of Archrock during the 4th quarter worth approximately $13,383,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup upped their price target on Archrock from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.67.

Archrock Stock Performance

NYSE AROC opened at $26.41 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82. The company has a market cap of $4.63 billion, a P/E ratio of 29.03, a P/E/G ratio of 1.60 and a beta of 1.56. The stock has a 50-day moving average of $27.04 and a two-hundred day moving average of $24.58. Archrock, Inc. has a 1-year low of $17.27 and a 1-year high of $30.44.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.88%. The ex-dividend date was Wednesday, February 12th. This is a boost from Archrock’s previous quarterly dividend of $0.18. Archrock’s dividend payout ratio (DPR) is currently 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.