Amalgamated Bank Has $851,000 Stake in Archrock, Inc. (NYSE:AROC)

Amalgamated Bank reduced its position in shares of Archrock, Inc. (NYSE:AROC) by 3.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,076 shares of the energy company’s stock after selling 1,477 shares during the quarter. Amalgamated Bank’s holdings in Archrock were worth $851,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Archrock in the fourth quarter worth approximately $15,958,000. Wells Fargo & Company MN grew its stake in shares of Archrock by 7.1% in the 4th quarter. Wells Fargo & Company MN now owns 752,819 shares of the energy company’s stock valued at $11,593,000 after buying an additional 49,697 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Archrock by 4.6% during the 4th quarter. Franklin Resources Inc. now owns 75,639 shares of the energy company’s stock worth $1,165,000 after purchasing an additional 3,301 shares during the last quarter. Allianz Asset Management GmbH increased its position in Archrock by 302.9% during the fourth quarter. Allianz Asset Management GmbH now owns 912,784 shares of the energy company’s stock worth $14,057,000 after buying an additional 686,242 shares during the last quarter. Finally, Boulder Hill Capital Management LP acquired a new stake in shares of Archrock in the fourth quarter worth about $662,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Archrock Stock Performance

NYSE AROC opened at $20.39 on Friday. The company’s fifty day moving average is $19.97 and its two-hundred day moving average is $19.93. Archrock, Inc. has a 52-week low of $11.73 and a 52-week high of $23.44. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.53 and a quick ratio of 0.94. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 24.57 and a beta of 1.51.

Archrock (NYSE:AROC) last released its earnings results on Tuesday, July 30th. The energy company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $270.53 million for the quarter, compared to the consensus estimate of $270.61 million. Archrock had a return on equity of 16.35% and a net margin of 13.20%. Equities research analysts forecast that Archrock, Inc. will post 1.07 EPS for the current year.

Archrock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were paid a $0.165 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.66 annualized dividend and a dividend yield of 3.24%. Archrock’s dividend payout ratio is currently 79.52%.

Analyst Ratings Changes

A number of research analysts have recently commented on AROC shares. Citigroup initiated coverage on Archrock in a report on Friday. They set a “buy” rating and a $24.00 price objective on the stock. JPMorgan Chase & Co. began coverage on shares of Archrock in a research note on Friday, September 6th. They issued an “overweight” rating and a $24.00 target price on the stock. StockNews.com lowered shares of Archrock from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Evercore ISI began coverage on Archrock in a research report on Wednesday. They issued an “outperform” rating and a $24.00 price target on the stock. Finally, Stifel Nicolaus lifted their price objective on Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Archrock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.33.

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.