Cornercap Investment Counsel Inc. Sells 19,326 Shares of Archrock, Inc. (NYSE:AROC)

Cornercap Investment Counsel Inc. lowered its stake in shares of Archrock, Inc. (NYSE:AROC) by 50.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,917 shares of the energy company’s stock after selling 19,326 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Archrock were worth $383,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of Archrock by 16.6% during the 2nd quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock worth $82,000 after purchasing an additional 578 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Archrock by 0.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 84,245 shares of the energy company’s stock worth $1,658,000 after purchasing an additional 710 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Archrock by 6.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,373 shares of the energy company’s stock valued at $230,000 after buying an additional 713 shares in the last quarter. Atria Investments Inc grew its stake in Archrock by 2.3% in the 3rd quarter. Atria Investments Inc now owns 32,648 shares of the energy company’s stock valued at $661,000 after buying an additional 746 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in Archrock by 2.2% in the 2nd quarter. Van ECK Associates Corp now owns 35,280 shares of the energy company’s stock valued at $713,000 after buying an additional 753 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Archrock Stock Performance

NYSE AROC opened at $23.22 on Monday. Archrock, Inc. has a 52-week low of $13.89 and a 52-week high of $24.71. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.94 and a current ratio of 1.26. The company has a market capitalization of $4.07 billion, a P/E ratio of 25.52 and a beta of 1.52. The company has a fifty day moving average of $20.92 and a 200-day moving average of $20.34.

Archrock (NYSE:AROC) last posted its quarterly earnings data on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The company had revenue of $292.16 million during the quarter, compared to the consensus estimate of $286.19 million. During the same period in the previous year, the firm posted $0.20 EPS. The firm’s revenue was up 15.3% compared to the same quarter last year. As a group, equities research analysts predict that Archrock, Inc. will post 1.09 EPS for the current fiscal year.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were paid a $0.175 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This is an increase from Archrock’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a yield of 3.01%. Archrock’s payout ratio is currently 76.92%.

Analyst Ratings Changes

A number of research analysts recently weighed in on AROC shares. Evercore ISI started coverage on shares of Archrock in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price objective for the company. Royal Bank of Canada boosted their price target on shares of Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday. Citigroup assumed coverage on shares of Archrock in a research report on Friday, September 27th. They set a “buy” rating and a $24.00 price target for the company. JPMorgan Chase & Co. assumed coverage on shares of Archrock in a research report on Friday, September 6th. They set an “overweight” rating and a $24.00 price target for the company. Finally, Stifel Nicolaus boosted their price target on shares of Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.67.

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.