Algert Global LLC Sells 97,469 Shares of Archrock, Inc. (NYSE:AROC)

Algert Global LLC trimmed its position in shares of Archrock, Inc. (NYSE:AROC) by 17.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 469,771 shares of the energy company’s stock after selling 97,469 shares during the quarter. Algert Global LLC owned 0.28% of Archrock worth $9,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Cerity Partners LLC increased its position in Archrock by 72.3% during the third quarter. Cerity Partners LLC now owns 25,073 shares of the energy company’s stock valued at $507,000 after acquiring an additional 10,522 shares during the last quarter. Citigroup Inc. grew its stake in shares of Archrock by 59.6% during the 3rd quarter. Citigroup Inc. now owns 447,160 shares of the energy company’s stock valued at $9,051,000 after purchasing an additional 166,947 shares during the period. Eagle Asset Management Inc. purchased a new stake in shares of Archrock during the 3rd quarter valued at about $22,108,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Archrock by 13.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,323,820 shares of the energy company’s stock worth $47,034,000 after purchasing an additional 274,763 shares during the period. Finally, Intech Investment Management LLC boosted its holdings in shares of Archrock by 58.7% in the third quarter. Intech Investment Management LLC now owns 59,401 shares of the energy company’s stock worth $1,202,000 after buying an additional 21,980 shares during the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Archrock Stock Up 0.4 %

Shares of AROC stock opened at $25.85 on Friday. The stock has a market cap of $4.53 billion, a P/E ratio of 28.41 and a beta of 1.52. The company’s fifty day simple moving average is $21.39 and its two-hundred day simple moving average is $20.47. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. Archrock, Inc. has a 52 week low of $13.95 and a 52 week high of $26.36.

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

Archrock Increases Dividend

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

Analyst Upgrades and Downgrades

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