Alps Advisors Inc. Reduces Position in Archrock, Inc. (AROC)
Alps Advisors Inc. lessened its position in shares of Archrock, Inc. (NYSE:AROC) by 75.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 62,381 shares of the energy company’s stock after selling 187,456 shares during the quarter. Alps Advisors Inc. owned about 0.09% of Archrock worth $783,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Nine Chapters Capital Management LLC acquired a new stake in Archrock during the 3rd quarter worth approximately $161,000. Adams Diversified Equity Fund Inc. acquired a new stake in Archrock during the 3rd quarter worth approximately $830,000. Crossmark Global Holdings Inc. acquired a new stake in Archrock during the 3rd quarter worth approximately $168,000. Aperio Group LLC acquired a new stake in Archrock during the 3rd quarter worth approximately $195,000. Finally, First Trust Advisors LP lifted its position in Archrock by 6.2% during the 3rd quarter. First Trust Advisors LP now owns 143,345 shares of the energy company’s stock worth $1,799,000 after acquiring an additional 8,348 shares during the period. Hedge funds and other institutional investors own 90.90% of the company’s stock.
Archrock, Inc. (AROC) traded down $0.20 on Wednesday, hitting $9.85. The stock had a trading volume of 451,200 shares, compared to its average volume of 577,894. The company has a quick ratio of 0.94, a current ratio of 1.63 and a debt-to-equity ratio of 1.99. Archrock, Inc. has a 1-year low of $8.30 and a 1-year high of $16.40.
Archrock (NYSE:AROC) last posted its quarterly earnings results on Thursday, November 2nd. The energy company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The business had revenue of $197.85 million during the quarter, compared to analyst estimates of $202.34 million. Archrock had a negative net margin of 8.62% and a negative return on equity of 2.93%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 earnings per share. research analysts forecast that Archrock, Inc. will post -0.23 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 8th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, November 7th. This represents a $0.48 annualized dividend and a dividend yield of 4.87%. Archrock’s dividend payout ratio is currently -48.98%.
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AROC has been the subject of a number of recent research reports. BidaskClub raised Archrock from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $13.00 price objective on shares of Archrock in a research report on Wednesday, September 27th. Zacks Investment Research raised Archrock from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Tuesday, October 3rd. Finally, Scotiabank set a $15.00 price objective on Archrock and gave the stock a “hold” rating in a research report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Archrock currently has a consensus rating of “Hold” and an average price target of $13.29.
Archrock, Inc is a natural gas contract operations services company. The Company also provides natural gas compression services to customers in the oil and natural gas industry throughout the United States and supplies aftermarket services to customers that own compression equipment in the United States.
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