Archrock, Inc. (NYSE:AROC) Stake Reduced by Fifth Third Bancorp

Fifth Third Bancorp reduced its stake in shares of Archrock, Inc. (NYSE:AROC) by 11.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 166,347 shares of the energy company’s stock after selling 21,361 shares during the quarter. Fifth Third Bancorp owned about 0.11% of Archrock worth $3,364,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Trexquant Investment LP boosted its position in Archrock by 56.0% during the 4th quarter. Trexquant Investment LP now owns 110,519 shares of the energy company’s stock worth $1,702,000 after acquiring an additional 39,686 shares during the period. UniSuper Management Pty Ltd acquired a new position in Archrock during the 1st quarter worth $852,000. Louisiana State Employees Retirement System acquired a new position in Archrock during the 4th quarter worth $1,058,000. Chase Investment Counsel Corp acquired a new position in Archrock during the 4th quarter worth $1,909,000. Finally, Sei Investments Co. boosted its position in Archrock by 37.7% during the 4th quarter. Sei Investments Co. now owns 5,113,865 shares of the energy company’s stock worth $78,753,000 after acquiring an additional 1,399,309 shares during the period. 95.45% of the stock is currently owned by institutional investors.

Archrock Stock Up 0.2 %

AROC stock traded up $0.04 during mid-day trading on Wednesday, hitting $19.27. The stock had a trading volume of 665,695 shares, compared to its average volume of 1,499,542. The company has a current ratio of 1.53, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. Archrock, Inc. has a 1-year low of $11.73 and a 1-year high of $23.44. The company has a fifty day moving average of $20.22 and a 200 day moving average of $19.51. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 1.56 and a beta of 1.53.

Archrock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 3.43%. The ex-dividend date was Tuesday, August 6th. Archrock’s payout ratio is currently 79.52%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AROC shares. Stifel Nicolaus upped their price objective on Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com downgraded Archrock from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 target price on shares of Archrock in a report on Wednesday, August 7th.

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.