PNC Financial Services Group Inc. Reduces Position in Archrock, Inc. (NYSE:AROC)

PNC Financial Services Group Inc. decreased its stake in shares of Archrock, Inc. (NYSE:AROC) by 5.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,888 shares of the energy company’s stock after selling 743 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Archrock were worth $346,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Atria Investments Inc increased its position in Archrock by 17.4% during the fourth quarter. Atria Investments Inc now owns 38,313 shares of the energy company’s stock worth $954,000 after buying an additional 5,665 shares in the last quarter. Barclays PLC grew its position in shares of Archrock by 124.2% in the third quarter. Barclays PLC now owns 302,610 shares of the energy company’s stock valued at $6,125,000 after purchasing an additional 167,648 shares during the period. JPMorgan Chase & Co. grew its position in shares of Archrock by 94.5% in the third quarter. JPMorgan Chase & Co. now owns 422,383 shares of the energy company’s stock valued at $8,549,000 after purchasing an additional 205,241 shares during the period. Verition Fund Management LLC purchased a new stake in shares of Archrock in the third quarter valued at $314,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Archrock by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,358,092 shares of the energy company’s stock valued at $58,693,000 after purchasing an additional 34,272 shares during the period. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Archrock Price Performance

AROC stock opened at $26.37 on Friday. The stock has a 50-day moving average price of $27.23 and a two-hundred day moving average price of $24.27. Archrock, Inc. has a 12-month low of $17.27 and a 12-month high of $30.44. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. The company has a market cap of $4.62 billion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 1.60 and a beta of 1.56.

Archrock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Wednesday, February 12th. This is an increase from Archrock’s previous quarterly dividend of $0.18. Archrock’s payout ratio is 73.08%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AROC. JPMorgan Chase & Co. lifted their price objective on Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Citigroup lifted their price objective on Archrock from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.67.

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.