Summit Global Investments Has $378,000 Stock Position in Archrock, Inc. $AROC

Summit Global Investments lowered its stake in Archrock, Inc. (NYSE:AROC) by 66.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,367 shares of the energy company’s stock after selling 28,639 shares during the quarter. Summit Global Investments’ holdings in Archrock were worth $378,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada increased its position in shares of Archrock by 0.7% in the first quarter. Royal Bank of Canada now owns 95,866 shares of the energy company’s stock worth $2,514,000 after acquiring an additional 667 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Archrock by 217.9% in the 1st quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company’s stock worth $35,000 after purchasing an additional 902 shares during the period. KLP Kapitalforvaltning AS boosted its stake in Archrock by 28.0% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 41,600 shares of the energy company’s stock worth $1,033,000 after purchasing an additional 9,100 shares during the period. Maryland State Retirement & Pension System grew its position in Archrock by 1.7% during the 2nd quarter. Maryland State Retirement & Pension System now owns 51,961 shares of the energy company’s stock worth $1,290,000 after purchasing an additional 887 shares in the last quarter. Finally, Callan Family Office LLC raised its stake in Archrock by 28.2% during the 2nd quarter. Callan Family Office LLC now owns 14,918 shares of the energy company’s stock valued at $370,000 after purchasing an additional 3,281 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.

Archrock Trading Up 1.5%

NYSE:AROC opened at $29.60 on Monday. The company has a market capitalization of $5.19 billion, a P/E ratio of 19.73, a P/E/G ratio of 1.34 and a beta of 0.93. The stock’s 50 day moving average price is $25.99 and its 200 day moving average price is $24.93. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.01 and a current ratio of 1.56. Archrock, Inc. has a 52 week low of $20.12 and a 52 week high of $30.19.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 18th. Shareholders of record on Tuesday, February 10th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This is a positive change from Archrock’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 3.0%. Archrock’s dividend payout ratio (DPR) is currently 56.00%.

Insiders Place Their Bets

In other Archrock news, SVP Eric W. Thode sold 40,740 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $25.10, for a total transaction of $1,022,574.00. Following the transaction, the senior vice president directly owned 184,216 shares in the company, valued at $4,623,821.60. This trade represents a 18.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Zacks Research cut Archrock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Evercore ISI increased their price objective on Archrock from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “buy (b)” rating on shares of Archrock in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada upped their target price on Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Archrock presently has a consensus rating of “Moderate Buy” and an average target price of $32.40.

Archrock Profile

Archrock, Inc is a Houston?based provider of natural gas compression services and equipment to the oil and gas industry in North America. Founded in 2004, the company supplies both short?term rentals and long?term contracts for compression solutions, serving upstream and midstream producers. Archrock’s offerings include engineered compression systems, aftermarket parts, maintenance and field services designed to optimize wellhead and pipeline operations.

The company’s core business activities focus on the design, manufacture, rental and sale of gas compression equipment.