Archrock, Inc. (NYSE:AROC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in Archrock, Inc. (NYSE:AROC - Free Report) by 2.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,127,491 shares of the energy company's stock after selling 48,366 shares during the period. Bank of New York Mellon Corp owned 1.21% of Archrock worth $52,953,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AROC. Brown Brothers Harriman & Co. purchased a new stake in shares of Archrock in the 3rd quarter valued at about $28,000. Wolverine Asset Management LLC lifted its holdings in shares of Archrock by 111.8% in the 4th quarter. Wolverine Asset Management LLC now owns 1,504 shares of the energy company's stock valued at $37,000 after purchasing an additional 14,200 shares during the last quarter. Continuum Advisory LLC lifted its holdings in shares of Archrock by 5,621.6% in the 3rd quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company's stock valued at $43,000 after purchasing an additional 2,080 shares during the last quarter. Millburn Ridgefield Corp purchased a new stake in shares of Archrock in the 3rd quarter valued at about $50,000. Finally, Montag A & Associates Inc. purchased a new stake in shares of Archrock in the 4th quarter valued at about $55,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Archrock Stock Performance

AROC stock traded up $0.06 during trading on Friday, hitting $23.71. The company had a trading volume of 1,919,234 shares, compared to its average volume of 1,394,589. The firm has a market cap of $4.16 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 1.60 and a beta of 1.56. Archrock, Inc. has a 1-year low of $17.26 and a 1-year high of $30.44. The firm has a 50-day moving average price of $27.28 and a 200-day moving average price of $23.94. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73.

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Archrock Increases Dividend

The firm also recently announced 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 a boost from Archrock's previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, February 12th. This represents a $0.76 annualized dividend and a yield of 3.21%. Archrock's payout ratio is presently 73.08%.

Analyst Ratings Changes

Several analysts have recently weighed in on AROC shares. JPMorgan Chase & Co. boosted 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. Royal Bank of Canada boosted their price target on Archrock from $26.00 to $27.00 and gave the company an "outperform" rating in a research report on Thursday, November 14th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $25.17.

Archrock 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.