Connable Office Inc. Sells 816 Shares of Archrock, Inc. (NYSE:AROC)

Connable Office Inc. trimmed its position in Archrock, Inc. (NYSE:AROC) by 4.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 16,505 shares of the energy company’s stock after selling 816 shares during the period. Connable Office Inc.’s holdings in Archrock were worth $334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in AROC. Wolff Wiese Magana LLC acquired a new stake in Archrock during the third quarter worth approximately $30,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Archrock during the 1st quarter worth $43,000. Quarry LP bought a new position in shares of Archrock in the second quarter worth $52,000. CWM LLC raised its stake in Archrock by 382.0% in the second quarter. CWM LLC now owns 3,591 shares of the energy company’s stock valued at $73,000 after purchasing an additional 2,846 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Archrock by 16.6% during the second quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock worth $82,000 after purchasing an additional 578 shares during the period. Institutional investors own 95.45% of the company’s stock.

Archrock Price Performance

Shares of AROC opened at $23.26 on Friday. The firm has a market cap of $4.07 billion, a PE ratio of 25.56 and a beta of 1.52. Archrock, Inc. has a 52-week low of $13.89 and a 52-week high of $24.71. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.94 and a current ratio of 1.26. The business’s 50 day moving average price is $20.76 and its two-hundred day moving average price is $20.29.

Archrock (NYSE:AROC) last issued its earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $292.16 million for the quarter, compared to analyst estimates of $286.19 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. Archrock’s revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 earnings per share. On average, equities analysts anticipate that Archrock, Inc. will post 1.13 EPS for the current year.

Archrock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were paid a $0.175 dividend. The ex-dividend date was Wednesday, November 6th. This is an increase from Archrock’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a dividend yield of 3.01%. Archrock’s dividend payout ratio (DPR) is currently 76.92%.

Wall Street Analyst Weigh In

Several research firms have commented on AROC. Royal Bank of Canada raised their target price on shares of Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday. Mizuho initiated coverage on shares of Archrock in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price target on the stock. Citigroup assumed coverage on shares of Archrock in a research report on Friday, September 27th. They set a “buy” rating and a $24.00 price objective for the company. Stifel Nicolaus raised their target price on Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Evercore ISI began coverage on Archrock in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.67.

About Archrock

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.