Archrock, Inc. (NYSE:AROC) Stock Position Lowered by Royce & Associates LP

Royce & Associates LP lessened its position in Archrock, Inc. (NYSE:AROC) by 8.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 404,801 shares of the energy company’s stock after selling 38,150 shares during the quarter. Royce & Associates LP’s holdings in Archrock were worth $8,193,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Archrock by 4.9% in the 1st 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 in the last quarter. Earnest Partners LLC lifted its position in shares of Archrock by 2.6% in the 1st quarter. Earnest Partners LLC now owns 14,007,955 shares of the energy company’s stock valued at $275,536,000 after acquiring an additional 351,391 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Archrock by 20.5% in the 2nd quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company’s stock valued at $80,036,000 after acquiring an additional 672,663 shares in the last quarter. Energy Income Partners LLC lifted its position in shares of Archrock by 4.9% in the 1st quarter. Energy Income Partners LLC now owns 2,468,897 shares of the energy company’s stock valued at $48,563,000 after acquiring an additional 116,298 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Archrock by 60.3% in the 2nd quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company’s stock worth $47,389,000 after buying an additional 882,024 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Archrock Stock Performance

Shares of AROC opened at $23.22 on Monday. The company’s fifty day moving average is $20.92 and its 200-day moving average is $20.34. Archrock, Inc. has a 12 month low of $13.89 and a 12 month high of $24.71. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 25.52 and a beta of 1.52. The company has a quick ratio of 0.94, a current ratio of 1.26 and a debt-to-equity ratio of 1.73.

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

Archrock Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on AROC. Royal Bank of Canada increased their target price on shares of Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday. Evercore ISI began coverage on shares of Archrock in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 target price for the company. Citigroup began coverage on shares of Archrock in a research report on Friday, September 27th. They issued a “buy” rating and a $24.00 target price for the company. JPMorgan Chase & Co. began coverage on shares of Archrock in a research report on Friday, September 6th. They issued an “overweight” rating and a $24.00 target price for the company. Finally, Mizuho began coverage on shares of Archrock in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Archrock currently has an average 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.