Oppenheimer Asset Management Inc. Sells 941 Shares of Archrock, Inc. (NYSE:AROC)

Oppenheimer Asset Management Inc. lessened its holdings in Archrock, Inc. (NYSE:AROC) by 1.6% during the third quarter, Holdings Channel reports. The fund owned 56,452 shares of the energy company’s stock after selling 941 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Archrock were worth $1,143,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. Evercore ISI initiated coverage on Archrock in a report on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price target for the company. JPMorgan Chase & Co. started coverage on Archrock in a report on Friday, September 6th. They set an “overweight” rating and a $24.00 target price for the company. Stifel Nicolaus upped their price target on shares of Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Citigroup initiated coverage on shares of Archrock in a report on Friday, September 27th. They issued a “buy” rating and a $24.00 price objective for the company. Finally, Mizuho initiated coverage on shares of Archrock in a report on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.67.

Archrock Trading Up 3.2 %

Shares of Archrock stock opened at $23.97 on Tuesday. 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 $13.95 and a 12-month high of $24.71. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 26.34 and a beta of 1.52. The firm’s 50-day moving average price is $20.92 and its two-hundred day moving average price is $20.35.

Archrock (NYSE:AROC) last issued its earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $292.16 million for the quarter, compared to the consensus estimate of $286.19 million. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The company’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 EPS. On average, analysts forecast that Archrock, Inc. will post 1.09 earnings per share for the current fiscal year.

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were paid a $0.175 dividend. This is an increase from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, November 6th. This represents a $0.70 annualized dividend and a yield of 2.92%. Archrock’s dividend payout ratio is presently 76.92%.

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.