Van ECK Associates Corp Sells 29,624 Shares of Archrock, Inc. (NYSE:AROC)

Van ECK Associates Corp decreased its position in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 43.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 38,627 shares of the energy company's stock after selling 29,624 shares during the quarter. Van ECK Associates Corp's holdings in Archrock were worth $961,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AROC. Creative Planning boosted its stake in Archrock by 18.7% in the 3rd quarter. Creative Planning now owns 27,299 shares of the energy company's stock worth $553,000 after purchasing an additional 4,301 shares during the period. Raymond James & Associates raised its holdings in shares of Archrock by 15.2% in the 3rd quarter. Raymond James & Associates now owns 158,108 shares of the energy company's stock valued at $3,200,000 after acquiring an additional 20,896 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Archrock in the 3rd quarter valued at about $11,230,000. Louisiana State Employees Retirement System raised its holdings in shares of Archrock by 18.1% in the 3rd quarter. Louisiana State Employees Retirement System now owns 81,700 shares of the energy company's stock valued at $1,654,000 after acquiring an additional 12,500 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Archrock by 51.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 17,267 shares of the energy company's stock valued at $349,000 after acquiring an additional 5,894 shares in the last quarter. Institutional investors own 95.45% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. 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, November 14th. JPMorgan Chase & Co. raised their price target on Archrock from $25.00 to $27.00 and gave the company an "overweight" rating in a report on Friday, November 29th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Archrock currently has an average rating of "Moderate Buy" and a consensus target price of $25.17.

Archrock Stock Performance

NYSE:AROC opened at $26.42 on Friday. The business has a 50 day moving average of $27.11 and a 200 day moving average of $23.44. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 1.71 and a beta of 1.57. Archrock, Inc. has a 1-year low of $17.26 and a 1-year high of $30.44. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82.

Archrock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th were given a $0.19 dividend. 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 2.88%. Archrock's payout ratio is presently 83.52%.

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.

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