BlackRock Investment Management LLC Decreases Position in Archrock, Inc. (AROC)

BlackRock Investment Management LLC Decreases Position in Archrock, Inc. (AROC)

BlackRock Investment Management LLC reduced its stake in shares of Archrock, Inc. (NYSE:AROC) by 0.4% during the third quarter, Holdings Channel reports. The firm owned 315,639 shares of the company’s stock after selling 1,136 shares during the period. BlackRock Investment Management LLC owned approximately 0.46% of Archrock worth $4,129,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ClariVest Asset Management LLC raised its stake in shares of Archrock by 1.6% in the third quarter. ClariVest Asset Management LLC now owns 160,354 shares of the company’s stock worth $2,097,000 after buying an additional 2,452 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Archrock by 50.7% in the third quarter. JPMorgan Chase & Co. now owns 1,453,011 shares of the company’s stock worth $19,005,000 after buying an additional 489,098 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Archrock by 4,814.9% in the third quarter. PNC Financial Services Group Inc. now owns 16,858 shares of the company’s stock worth $221,000 after buying an additional 16,515 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Archrock by 4.8% in the third quarter. Bank of New York Mellon Corp now owns 1,496,130 shares of the company’s stock worth $19,569,000 after buying an additional 67,971 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Archrock by 3.5% in the third quarter. Nordea Investment Management AB now owns 97,200 shares of the company’s stock worth $1,271,000 after buying an additional 3,300 shares during the last quarter. 88.23% of the stock is currently owned by institutional investors.

Shares of Archrock, Inc. (NYSE:AROC) traded up 1.182% during trading on Friday, hitting $14.975. The stock had a trading volume of 246,198 shares. The stock’s market cap is $1.03 billion. The stock’s 50-day moving average price is $14.17 and its 200 day moving average price is $12.25. Archrock, Inc. has a one year low of $3.41 and a one year high of $15.70.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Wednesday, February 8th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, February 6th. This represents a $0.48 annualized dividend and a dividend yield of 3.24%. Archrock’s dividend payout ratio is currently -30.77%.

AROC has been the topic of a number of analyst reports. Zacks Investment Research raised Archrock from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Monday, October 3rd. Capital One Financial Corporation upgraded Archrock from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 14th. Scotiabank downgraded Archrock to a “hold” rating in a research note on Thursday, December 15th. Finally, J P Morgan Chase & Co started coverage on Archrock in a research note on Friday, January 6th. They issued a “neutral” rating and a $13.00 price target for the company. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Archrock has an average rating of “Hold” and an average price target of $11.19.

Archrock Company Profile

Archrock, Inc, formerly Exterran Holdings, 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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