PNC Financial Services Group Inc. Lowers Stock Holdings in Archrock, Inc. (NYSE:AROC)

PNC Financial Services Group Inc. lowered its holdings in shares of Archrock, Inc. (NYSE:AROC) by 13.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,322 shares of the energy company’s stock after selling 2,311 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Archrock were worth $236,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AROC. Vanguard Group Inc. lifted its position in shares of Archrock by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 17,471,805 shares of the energy company’s stock valued at $269,066,000 after acquiring an additional 62,200 shares in the last quarter. Earnest Partners LLC lifted its position in shares of Archrock by 2.7% in the third quarter. Earnest Partners LLC now owns 12,552,460 shares of the energy company’s stock valued at $158,161,000 after acquiring an additional 327,411 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Archrock by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,624,601 shares of the energy company’s stock valued at $163,620,000 after acquiring an additional 145,397 shares in the last quarter. Blackstone Inc. lifted its position in shares of Archrock by 4,211.9% in the fourth quarter. Blackstone Inc. now owns 5,903,142 shares of the energy company’s stock valued at $90,908,000 after acquiring an additional 5,766,237 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Archrock by 37.7% in the fourth quarter. Sei Investments Co. now owns 5,113,865 shares of the energy company’s stock valued at $78,753,000 after acquiring an additional 1,399,309 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Archrock Price Performance

NYSE:AROC opened at $20.23 on Tuesday. The stock has a 50 day moving average price of $19.72 and a 200 day moving average price of $18.23. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.74 and a current ratio of 1.26. The stock has a market cap of $3.16 billion, a PE ratio of 24.37, a P/E/G ratio of 1.57 and a beta of 1.57. Archrock, Inc. has a one year low of $9.57 and a one year high of $21.60.

Archrock (NYSE:AROC) last posted its earnings results on Wednesday, May 1st. The energy company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. The company had revenue of $268.49 million during the quarter, compared to analysts’ expectations of $260.51 million. Archrock had a return on equity of 15.30% and a net margin of 12.54%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 earnings per share. Equities research analysts expect that Archrock, Inc. will post 1.07 EPS for the current fiscal year.

Archrock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, May 7th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.66 annualized dividend and a yield of 3.26%. Archrock’s dividend payout ratio (DPR) is 79.52%.

Wall Street Analysts Forecast Growth

AROC has been the topic of several research reports. Stifel Nicolaus raised their target price on Archrock from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Royal Bank of Canada increased their price target on Archrock from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Finally, StockNews.com cut Archrock from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Archrock has an average rating of “Moderate Buy” and a consensus target price of $19.67.

Archrock 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.