Connable Office Inc. Has $334,000 Position in Archrock, Inc. (NYSE:AROC)

Connable Office Inc. lessened its position in Archrock, Inc. (NYSE:AROC) by 4.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,505 shares of the energy company’s stock after selling 816 shares during the period. Connable Office Inc.’s holdings in Archrock were worth $334,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Archrock by 4.9% during the first quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company’s stock worth $360,385,000 after buying an additional 849,750 shares during the last quarter. Earnest Partners LLC grew its position in Archrock by 2.6% during the 1st quarter. Earnest Partners LLC now owns 14,007,955 shares of the energy company’s stock worth $275,536,000 after acquiring an additional 351,391 shares during the last quarter. American Century Companies Inc. increased its holdings in Archrock by 20.5% during the 2nd quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company’s stock valued at $80,036,000 after purchasing an additional 672,663 shares in the last quarter. Energy Income Partners LLC raised its position in Archrock by 4.9% in the 1st quarter. Energy Income Partners LLC now owns 2,468,897 shares of the energy company’s stock valued at $48,563,000 after purchasing an additional 116,298 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Archrock by 60.3% in the second quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company’s stock worth $47,389,000 after purchasing an additional 882,024 shares in the last quarter. Institutional investors own 95.45% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AROC. JPMorgan Chase & Co. initiated coverage on Archrock in a research note on Friday, September 6th. They issued an “overweight” rating and a $24.00 target price for the company. Royal Bank of Canada boosted 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. Evercore ISI began coverage on shares of Archrock in a research note on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price target on the stock. Citigroup initiated coverage on Archrock in a report on Friday, September 27th. They set a “buy” rating and a $24.00 price objective on the stock. Finally, Stifel Nicolaus lifted their target price on Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. One equities 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.67.

Archrock Trading Down 1.7 %

Shares of Archrock stock opened at $23.26 on Friday. The stock has a market cap of $4.07 billion, a P/E ratio of 25.56 and a beta of 1.52. The company has a quick ratio of 0.94, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. Archrock, Inc. has a 12-month low of $13.89 and a 12-month high of $24.71. The business’s 50 day moving average is $20.76 and its 200-day moving average is $20.29.

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

Archrock Increases Dividend

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

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.