Archrock, Inc. (NYSE:AROC) Stock Position Reduced by Bard Associates Inc.

Bard Associates Inc. cut its position in shares of Archrock, Inc. (NYSE:AROC) by 13.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,280 shares of the energy company’s stock after selling 32,000 shares during the period. Archrock accounts for about 1.4% of Bard Associates Inc.’s investment portfolio, making the stock its 12th largest position. Bard Associates Inc.’s holdings in Archrock were worth $4,175,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Wolff Wiese Magana LLC acquired a new position in shares of Archrock during the 3rd quarter valued at about $30,000. Allspring Global Investments Holdings LLC acquired a new position in Archrock during the first quarter valued at approximately $43,000. Quarry LP acquired a new position in Archrock during the second quarter valued at approximately $52,000. CWM LLC lifted its stake in shares of Archrock by 382.0% in the second quarter. CWM LLC now owns 3,591 shares of the energy company’s stock worth $73,000 after buying an additional 2,846 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Archrock by 16.6% in the 2nd quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock valued at $82,000 after buying an additional 578 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Archrock Trading Down 1.7 %

Shares of AROC opened at $23.26 on Friday. 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 company has a market cap of $4.07 billion, a price-to-earnings ratio of 25.56 and a beta of 1.52. The stock has a fifty day moving average price of $20.76 and a two-hundred day moving average price of $20.29. Archrock, Inc. has a 52-week low of $13.89 and a 52-week high of $24.71.

Archrock (NYSE:AROC) last released its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The business had revenue of $292.16 million during the quarter, compared to analysts’ expectations of $286.19 million. During the same period in the previous year, the business posted $0.20 earnings per share. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. Analysts predict that Archrock, Inc. will post 1.13 EPS for the current fiscal year.

Archrock Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have commented on AROC shares. Stifel Nicolaus lifted their price target on Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Mizuho began coverage on shares of Archrock in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price target for the company. Evercore ISI started coverage on Archrock in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price objective on the stock. Royal Bank of Canada raised their target price on Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. initiated coverage on Archrock in a research report on Friday, September 6th. They issued an “overweight” rating and a $24.00 price target on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.67.

Archrock Company 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.