Cornercap Investment Counsel Inc. Has $383,000 Stake in Archrock, Inc. (NYSE:AROC)

Cornercap Investment Counsel Inc. cut its holdings in shares of Archrock, Inc. (NYSE:AROC) by 50.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,917 shares of the energy company’s stock after selling 19,326 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Archrock were worth $383,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AROC. Wolff Wiese Magana LLC bought a new position in shares of Archrock in the third quarter valued at about $30,000. Allspring Global Investments Holdings LLC bought a new position in Archrock in the 1st quarter valued at about $43,000. Quarry LP acquired a new stake in Archrock during the second quarter worth approximately $52,000. CWM LLC boosted its holdings in shares of Archrock by 382.0% during the second quarter. CWM LLC now owns 3,591 shares of the energy company’s stock worth $73,000 after acquiring an additional 2,846 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Archrock by 16.6% in the second quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock valued at $82,000 after purchasing an additional 578 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Archrock Price Performance

AROC stock opened at $23.22 on Monday. The stock has a market capitalization of $4.07 billion, a PE ratio of 25.52 and a beta of 1.52. The company’s 50-day moving average is $20.92 and its 200-day moving average is $20.34. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.94. Archrock, Inc. has a 1 year low of $13.89 and a 1 year high of $24.71.

Archrock (NYSE:AROC) last released its quarterly earnings data on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The company had revenue of $292.16 million for the quarter, compared to analysts’ expectations of $286.19 million. During the same quarter in the prior year, the firm earned $0.20 EPS. The business’s revenue was up 15.3% on a year-over-year basis. Equities research analysts expect that Archrock, Inc. will post 1.09 EPS for the current fiscal year.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were given a $0.175 dividend. This is a boost from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.70 annualized dividend and a yield of 3.01%. Archrock’s dividend payout ratio (DPR) is presently 76.92%.

Analysts Set New Price Targets

AROC has been the topic of several research reports. Evercore ISI initiated coverage on Archrock in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 target price on the stock. Stifel Nicolaus upped their target price on Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Citigroup initiated coverage on Archrock in a research report on Friday, September 27th. They issued a “buy” rating and a $24.00 target price on the stock. Royal Bank of Canada upped their target price on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Mizuho started coverage on Archrock in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price target for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $24.67.

Archrock Company 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.