Avantax Advisory Services Inc. Decreases Position in Archrock, Inc. (NYSE:AROC)

Avantax Advisory Services Inc. trimmed its position in shares of Archrock, Inc. (NYSE:AROC) by 20.3% during the fourth quarter, Holdings Channel reports. The firm owned 88,867 shares of the energy company’s stock after selling 22,601 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Archrock were worth $2,212,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brown Brothers Harriman & Co. purchased a new stake in Archrock during the third quarter worth $28,000. Wolverine Asset Management LLC lifted its position in shares of Archrock by 111.8% in the fourth quarter. Wolverine Asset Management LLC now owns 1,504 shares of the energy company’s stock valued at $37,000 after acquiring an additional 14,200 shares in the last quarter. Continuum Advisory LLC lifted its position in shares of Archrock by 5,621.6% in the third quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company’s stock valued at $43,000 after acquiring an additional 2,080 shares in the last quarter. Millburn Ridgefield Corp purchased a new stake in shares of Archrock in the third quarter valued at $50,000. Finally, Montag A & Associates Inc. purchased a new stake in shares of Archrock in the fourth quarter valued at $55,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. upped their price objective on Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $25.17.

Archrock Stock Performance

NYSE AROC opened at $24.96 on Monday. The firm has a market capitalization of $4.37 billion, a P/E ratio of 27.42, a P/E/G ratio of 1.60 and a beta of 1.56. Archrock, Inc. has a 1-year low of $17.27 and a 1-year high of $30.44. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82. The business’s 50-day simple moving average is $27.17 and its 200-day simple moving average is $24.11.

Archrock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th were paid a $0.19 dividend. This is a positive change from Archrock’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Wednesday, February 12th. Archrock’s payout ratio is currently 73.08%.

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.