Victory Capital Management Inc. Sells 104,045 Shares of Archrock, Inc. (NYSE:AROC)

Victory Capital Management Inc. decreased its holdings in Archrock, Inc. (NYSE:AROC) by 13.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 647,605 shares of the energy company’s stock after selling 104,045 shares during the quarter. Victory Capital Management Inc. owned 0.38% of Archrock worth $13,095,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Archrock in the 1st quarter worth $43,000. CWM LLC grew its stake in shares of Archrock by 382.0% during the 2nd quarter. CWM LLC now owns 3,591 shares of the energy company’s stock valued at $73,000 after purchasing an additional 2,846 shares during the period. GAMMA Investing LLC increased its position in shares of Archrock by 16.6% during the 2nd 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. Russell Investments Group Ltd. lifted its stake in shares of Archrock by 70.6% in the 1st quarter. Russell Investments Group Ltd. now owns 5,946 shares of the energy company’s stock worth $117,000 after purchasing an additional 2,461 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Archrock in the first quarter worth approximately $133,000. Institutional investors own 95.45% of the company’s stock.

Archrock Stock Up 1.1 %

AROC opened at $19.37 on Friday. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 23.34 and a beta of 1.51. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.94 and a current ratio of 1.53. The firm’s fifty day moving average is $20.17 and its 200 day moving average is $19.78. Archrock, Inc. has a fifty-two week low of $11.73 and a fifty-two week high of $23.44.

Archrock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were given a $0.165 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.66 annualized dividend and a dividend yield of 3.41%. Archrock’s payout ratio is 79.52%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Stifel Nicolaus increased their price target on shares of Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. StockNews.com cut Archrock from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. JPMorgan Chase & Co. began coverage on Archrock in a report on Friday, September 6th. They set an “overweight” rating and a $24.00 price target for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 price objective on shares of Archrock in a research note on Wednesday, August 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Archrock has an average rating of “Moderate Buy” and a consensus target price of $21.50.

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.