Archrock, Inc. (NYSE:AROC) Shares Sold by Bard Associates Inc.

Bard Associates Inc. cut its stake in shares of Archrock, Inc. (NYSE:AROC) by 13.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 206,280 shares of the energy company’s stock after selling 32,000 shares during the quarter. Archrock makes up approximately 1.4% of Bard Associates Inc.’s portfolio, making the stock its 12th biggest position. Bard Associates Inc. owned 0.12% of Archrock worth $4,175,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC acquired a new stake in Archrock during the 3rd quarter worth $30,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Archrock during the first quarter worth about $43,000. Quarry LP acquired a new position in Archrock in the 2nd quarter valued at about $52,000. CWM LLC lifted its position in Archrock by 382.0% during the 2nd quarter. CWM LLC now owns 3,591 shares of the energy company’s stock worth $73,000 after acquiring an additional 2,846 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Archrock by 16.6% in the 2nd quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock valued at $82,000 after purchasing an additional 578 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Analyst Ratings Changes

AROC has been the topic of a number of analyst reports. Evercore ISI initiated coverage on shares of Archrock in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on Archrock in a report on Friday, September 6th. They issued an “overweight” rating and a $24.00 price target for the company. Citigroup initiated coverage on Archrock in a research report on Friday, September 27th. They issued a “buy” rating and a $24.00 price objective for the company. Mizuho began coverage on shares of Archrock in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price target for the company. Finally, Royal Bank of Canada lifted their price target on shares of Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.67.

Archrock Price Performance

Shares of NYSE:AROC opened at $23.26 on Friday. Archrock, Inc. has a one year low of $13.89 and a one year high of $24.71. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.94 and a current ratio of 1.26. The stock has a market cap of $4.07 billion, a PE ratio of 25.56 and a beta of 1.52. The business’s fifty day moving average price is $20.76 and its two-hundred day moving average price is $20.29.

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

Archrock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were given a dividend of $0.175 per share. The ex-dividend date of this dividend 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 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.