Bank of New York Mellon Corp Lowers Stock Position in Archrock, Inc. (NYSE:AROC)

Bank of New York Mellon Corp lowered its position in Archrock, Inc. (NYSE:AROC - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,038,454 shares of the energy company's stock after selling 89,037 shares during the period. Bank of New York Mellon Corp owned about 1.16% of Archrock worth $53,489,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in shares of Archrock by 164.8% in the first quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company's stock valued at $26,000 after purchasing an additional 600 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Archrock in the first quarter valued at about $33,000. Covestor Ltd raised its holdings in shares of Archrock by 580.6% in the fourth quarter. Covestor Ltd now owns 4,485 shares of the energy company's stock valued at $111,000 after purchasing an additional 3,826 shares during the last quarter. Park Square Financial Group LLC purchased a new stake in shares of Archrock in the fourth quarter valued at about $126,000. Finally, Focus Partners Wealth purchased a new stake in shares of Archrock in the fourth quarter valued at about $209,000. Hedge funds and other institutional investors own 95.45% of the company's stock.

Archrock Price Performance

Shares of NYSE:AROC opened at $23.33 on Friday. The company has a 50 day moving average of $24.84 and a 200 day moving average of $25.55. The stock has a market cap of $4.12 billion, a P/E ratio of 19.77, a P/E/G ratio of 1.26 and a beta of 1.08. 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 1.47, a quick ratio of 0.96 and a debt-to-equity ratio of 1.70.

Archrock (NYSE:AROC - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The energy company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.03. Archrock had a net margin of 16.38% and a return on equity of 18.31%. The firm had revenue of $347.16 million for the quarter, compared to analyst estimates of $342.98 million. As a group, sell-side analysts forecast that Archrock, Inc. will post 1.09 EPS for the current fiscal year.

Archrock announced that its Board of Directors has authorized a stock buyback plan on Monday, May 5th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the energy company to buy up to 1.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Archrock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th were paid a $0.19 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.26%. Archrock's dividend payout ratio (DPR) is 64.41%.

Insiders Place Their Bets

In other Archrock news, SVP Jason Ingersoll sold 42,036 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $24.49, for a total transaction of $1,029,461.64. Following the completion of the sale, the senior vice president owned 275,911 shares of the company's stock, valued at $6,757,060.39. This represents a 13.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Citigroup raised their price objective on shares of Archrock from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. Sidoti raised shares of Archrock to a "hold" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Archrock presently has an average rating of "Moderate Buy" and an average target price of $26.67.

About Archrock

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.

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