Avantax Advisory Services Inc. Sells 22,601 Shares of Archrock, Inc. (NYSE:AROC)

Avantax Advisory Services Inc. trimmed its holdings in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 20.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,867 shares of the energy company's stock after selling 22,601 shares during the period. Avantax Advisory Services Inc. owned about 0.05% of Archrock worth $2,212,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp increased its position in Archrock by 11.5% in the third quarter. State Street Corp now owns 6,836,745 shares of the energy company's stock worth $138,376,000 after buying an additional 707,379 shares during the last quarter. Geode Capital Management LLC increased its holdings in Archrock by 16.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,794,981 shares of the energy company's stock worth $76,826,000 after acquiring an additional 523,825 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Archrock by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,358,092 shares of the energy company's stock valued at $58,693,000 after purchasing an additional 34,272 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its position in Archrock by 5.5% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 1,614,264 shares of the energy company's stock worth $40,179,000 after purchasing an additional 83,824 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Archrock in the fourth quarter valued at approximately $36,241,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

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Archrock Price Performance

Shares of NYSE AROC traded down $0.18 during midday trading on Thursday, hitting $26.65. 1,224,781 shares of the company's stock were exchanged, compared to its average volume of 1,429,913. The business's fifty day moving average price is $27.20 and its two-hundred day moving average price is $24.21. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 1.60 and a beta of 1.56. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. Archrock, Inc. has a 12-month low of $17.26 and a 12-month high of $30.44.

Archrock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.19 per share. This is an increase from Archrock's previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.76 dividend on an annualized basis and a yield of 2.85%. Archrock's dividend payout ratio (DPR) is presently 73.08%.

Analyst Ratings Changes

AROC has been the subject of a number of recent research reports. Citigroup lifted their price objective on shares of Archrock from $32.00 to $33.00 and gave the company a "buy" rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their target price on Archrock from $25.00 to $27.00 and gave the company an "overweight" rating in a report on Friday, November 29th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $26.67.

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.