Bard Associates Inc. Sells 32,000 Shares of Archrock, Inc. (NYSE:AROC)

Bard Associates Inc. reduced its position in Archrock, Inc. (NYSE:AROC - Free Report) by 13.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 206,280 shares of the energy company's stock after selling 32,000 shares during the quarter. Archrock makes up 1.4% of Bard Associates Inc.'s portfolio, making the stock its 12th largest holding. Bard Associates Inc. owned approximately 0.12% of Archrock worth $4,175,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AROC. Allspring Global Investments Holdings LLC acquired a new position in Archrock during the first quarter worth $43,000. BNP Paribas Financial Markets raised its stake in Archrock by 77.2% during the first quarter. BNP Paribas Financial Markets now owns 69,992 shares of the energy company's stock worth $1,377,000 after acquiring an additional 30,493 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Archrock by 9.0% during the first quarter. Janney Montgomery Scott LLC now owns 13,065 shares of the energy company's stock worth $257,000 after acquiring an additional 1,079 shares in the last quarter. SG Americas Securities LLC acquired a new position in Archrock during the first quarter worth $133,000. Finally, Russell Investments Group Ltd. raised its stake in Archrock by 70.6% during the first quarter. Russell Investments Group Ltd. now owns 5,946 shares of the energy company's stock worth $117,000 after acquiring an additional 2,461 shares in the last quarter. 95.45% of the stock is owned by institutional investors.

Archrock Trading Down 0.2 %

AROC traded down $0.05 during midday trading on Friday, reaching $23.22. 1,049,781 shares of the company were exchanged, compared to its average volume of 1,426,044. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.94 and a current ratio of 1.26. Archrock, Inc. has a one year low of $13.89 and a one year high of $24.71. The stock has a market capitalization of $4.07 billion, a P/E ratio of 25.51 and a beta of 1.52. The stock's 50-day simple moving average is $20.92 and its 200 day simple moving average is $20.33.

Archrock (NYSE:AROC - Get Free Report) last issued its earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $286.19 million. During the same quarter last year, the business earned $0.20 earnings per share. The company's revenue was up 15.3% compared to the same quarter last year. As a group, analysts forecast that Archrock, Inc. will post 1.13 earnings per share for the current fiscal year.

Archrock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Wednesday, November 6th. This is a boost from Archrock's previous quarterly dividend of $0.17. Archrock's payout ratio is 76.92%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AROC shares. Stifel Nicolaus raised their target price on Archrock from $23.00 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. 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 on the stock. Mizuho assumed coverage on Archrock in a report on Wednesday, October 2nd. They issued an "outperform" rating and a $24.00 price target on the stock. Royal Bank of Canada raised their price target on Archrock from $26.00 to $27.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Citigroup assumed coverage on Archrock in a report on Friday, September 27th. They issued a "buy" rating and a $24.00 price target on the stock. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $24.67.

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.