Thrivent Financial for Lutherans lowered its position in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 20.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 593,538 shares of the energy company's stock after selling 152,782 shares during the quarter. Thrivent Financial for Lutherans owned 0.34% of Archrock worth $14,773,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Brown Brothers Harriman & Co. bought a new stake in shares of Archrock in the third quarter worth $28,000. Wolverine Asset Management LLC lifted its position in Archrock by 111.8% during the 4th quarter. Wolverine Asset Management LLC now owns 1,504 shares of the energy company's stock worth $37,000 after buying an additional 14,200 shares in the last quarter. Continuum Advisory LLC lifted its position in Archrock by 5,621.6% during the 3rd quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company's stock worth $43,000 after buying an additional 2,080 shares in the last quarter. Millburn Ridgefield Corp acquired a new position in shares of Archrock during the 3rd quarter worth about $50,000. Finally, Montag A & Associates Inc. bought a new position in shares of Archrock in the 4th quarter valued at about $55,000. 95.45% of the stock is owned by institutional investors.
Archrock Stock Performance
Shares of AROC traded down $0.38 during mid-day trading on Wednesday, reaching $26.85. The company's stock had a trading volume of 966,790 shares, compared to its average volume of 1,377,779. 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 1-year low of $17.27 and a 1-year high of $30.44. The business has a 50-day simple moving average of $27.21 and a two-hundred day simple moving average of $24.46. The stock has a market cap of $4.71 billion, a P/E ratio of 29.50, a PEG ratio of 1.60 and a beta of 1.56.
Archrock Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th were issued a $0.19 dividend. This is an increase from Archrock's previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Wednesday, February 12th. Archrock's payout ratio is currently 73.08%.
Analyst Ratings Changes
AROC has been the subject of several recent research reports. Citigroup increased their price target on Archrock from $32.00 to $33.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. JPMorgan Chase & Co. increased their price objective on Archrock from $25.00 to $27.00 and gave the company an "overweight" rating in a report on Friday, November 29th. One equities 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $26.67.
Read Our Latest Report on Archrock
About Archrock
(
Free Report)
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.
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