Archrock, Inc. (NYSE:AROC) Shares Sold by Swiss National Bank

Swiss National Bank cut its position in shares of Archrock, Inc. (NYSE:AROC) by 1.1% during the 3rd quarter, Holdings Channel reports. The firm owned 289,800 shares of the energy company’s stock after selling 3,200 shares during the period. Swiss National Bank’s holdings in Archrock were worth $5,866,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Algert Global LLC increased its position in shares of Archrock by 175.7% during the 2nd quarter. Algert Global LLC now owns 567,240 shares of the energy company’s stock valued at $11,470,000 after purchasing an additional 361,520 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of Archrock during the 3rd quarter valued at $200,000. Quest Partners LLC increased its position in shares of Archrock by 145.8% during the 2nd quarter. Quest Partners LLC now owns 76,650 shares of the energy company’s stock valued at $1,550,000 after purchasing an additional 45,466 shares during the period. Van ECK Associates Corp increased its position in shares of Archrock by 93.5% during the 3rd quarter. Van ECK Associates Corp now owns 68,251 shares of the energy company’s stock valued at $1,383,000 after purchasing an additional 32,971 shares during the period. Finally, Boston Partners acquired a new position in shares of Archrock during the 1st quarter valued at $24,875,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Archrock Trading Down 1.3 %

AROC stock opened at $24.92 on Thursday. Archrock, Inc. has a 1-year low of $13.95 and a 1-year high of $26.36. The firm has a market cap of $4.37 billion, a P/E ratio of 27.74 and a beta of 1.52. The business’s 50 day moving average is $21.74 and its 200-day moving average is $20.59. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73.

Archrock (NYSE:AROC) last released its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 16.24% and a net margin of 13.34%. Archrock’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.20 EPS. Equities analysts anticipate that Archrock, Inc. will post 1.09 earnings per share for the current fiscal year.

Archrock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 2.81%. This is a positive change from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, November 6th. Archrock’s dividend payout ratio (DPR) is presently 76.92%.

Analyst Ratings Changes

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