Bank of New York Mellon Corp Reduces Stock Position in Archrock, Inc. (NYSE:AROC)

Bank of New York Mellon Corp lowered its holdings in shares of Archrock, Inc. (NYSE:AROC) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,127,491 shares of the energy company’s stock after selling 48,366 shares during the quarter. Bank of New York Mellon Corp owned 1.21% of Archrock worth $52,953,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Brown Brothers Harriman & Co. bought a new stake in Archrock during the 3rd quarter valued at $28,000. Wolverine Asset Management LLC grew its stake in Archrock by 111.8% during the 4th quarter. Wolverine Asset Management LLC now owns 1,504 shares of the energy company’s stock worth $37,000 after buying an additional 14,200 shares during the last quarter. Continuum Advisory LLC grew its stake in Archrock by 5,621.6% during the 3rd quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company’s stock worth $43,000 after buying an additional 2,080 shares during the last quarter. Montag A & Associates Inc. purchased a new stake in Archrock during the 4th quarter valued at about $55,000. Finally, Millburn Ridgefield Corp purchased a new stake in Archrock during the 3rd quarter valued at about $50,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on AROC. Royal Bank of Canada boosted their price target on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. upped their target price on Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.17.

Archrock Stock Performance

NYSE AROC opened at $25.27 on Thursday. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 1.60 and a beta of 1.56. Archrock, Inc. has a twelve month low of $17.26 and a twelve month high of $30.44. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. The stock has a 50-day moving average of $27.32 and a 200 day moving average of $23.88.

Archrock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.19 per share. The ex-dividend date was Wednesday, February 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.01%. This is a boost from Archrock’s previous quarterly dividend of $0.18. Archrock’s dividend payout ratio is presently 73.08%.

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.