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

Bank of New York Mellon Corp grew its stake in Archrock, Inc. (NYSE:AROC) by 9.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,169,768 shares of the energy company’s stock after acquiring an additional 185,962 shares during the quarter. Bank of New York Mellon Corp owned about 1.39% of Archrock worth $43,873,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in Archrock during the fourth quarter worth approximately $4,830,000. Yousif Capital Management LLC boosted its holdings in shares of Archrock by 2.3% during the fourth quarter. Yousif Capital Management LLC now owns 69,907 shares of the energy company’s stock worth $1,077,000 after purchasing an additional 1,582 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Archrock by 6.1% in the fourth quarter. Van ECK Associates Corp now owns 28,113 shares of the energy company’s stock valued at $433,000 after purchasing an additional 1,624 shares during the period. Fisher Asset Management LLC purchased a new stake in shares of Archrock in the fourth quarter valued at $752,000. Finally, Natixis Advisors L.P. increased its stake in Archrock by 18.8% in the fourth quarter. Natixis Advisors L.P. now owns 481,709 shares of the energy company’s stock valued at $7,418,000 after purchasing an additional 76,081 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on AROC. StockNews.com cut Archrock from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Stifel Nicolaus boosted their target price on shares of Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 price target on shares of Archrock in a research report on Wednesday, August 7th.

Archrock Stock Performance

Shares of NYSE:AROC opened at $20.23 on Monday. The business has a 50-day moving average of $20.38 and a two-hundred day moving average of $19.72. The firm has a market capitalization of $3.42 billion, a PE ratio of 24.37 and a beta of 1.53. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.53 and a quick ratio of 0.94. Archrock, Inc. has a 12 month low of $11.73 and a 12 month high of $23.44.

Archrock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Tuesday, August 6th. Archrock’s dividend payout ratio (DPR) is presently 79.52%.

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.