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

Van ECK Associates Corp lowered its stake in Archrock, Inc. (NYSE:AROC) by 43.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 38,627 shares of the energy company’s stock after selling 29,624 shares during the period. Van ECK Associates Corp’s holdings in Archrock were worth $961,000 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. Brown Brothers Harriman & Co. bought a new stake in Archrock in the third quarter valued at approximately $28,000. Continuum Advisory LLC lifted its position in Archrock by 5,621.6% in the third 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 bought a new stake in Archrock in the third quarter valued at approximately $50,000. R Squared Ltd bought a new stake in Archrock in the fourth quarter valued at approximately $76,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Archrock during the third quarter valued at approximately $103,000. Institutional investors own 95.45% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on AROC. Royal Bank of Canada boosted their target price on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. boosted their target price on Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a research note 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.17.

Archrock Trading Down 3.0 %

NYSE AROC opened at $26.42 on Friday. Archrock, Inc. has a 12 month low of $17.26 and a 12 month high of $30.44. The stock has a market cap of $4.63 billion, a P/E ratio of 29.03, a P/E/G ratio of 1.71 and a beta of 1.57. The stock’s fifty day moving average price is $27.11 and its 200-day moving average price is $23.44. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.19 per share. This is an increase from Archrock’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Wednesday, February 12th. Archrock’s dividend payout ratio is presently 83.52%.

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.