State of New Jersey Common Pension Fund D Trims Stake in Archrock, Inc. (NYSE:AROC)

State of New Jersey Common Pension Fund D cut its holdings in Archrock, Inc. (NYSE:AROC) by 12.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 85,540 shares of the energy company’s stock after selling 11,790 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Archrock were worth $2,129,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. State Street Corp raised its holdings in Archrock by 11.5% in the 3rd quarter. State Street Corp now owns 6,836,745 shares of the energy company’s stock valued at $138,376,000 after acquiring an additional 707,379 shares during the last quarter. Geode Capital Management LLC raised its holdings in Archrock by 16.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,794,981 shares of the energy company’s stock valued at $76,826,000 after acquiring an additional 523,825 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Archrock by 13.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,323,820 shares of the energy company’s stock valued at $47,034,000 after acquiring an additional 274,763 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its holdings in Archrock by 1,680.2% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 1,530,440 shares of the energy company’s stock valued at $30,976,000 after acquiring an additional 1,444,471 shares during the last quarter. Finally, Eagle Asset Management Inc. acquired a new position in Archrock in the 3rd quarter valued at $22,108,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Archrock Trading Down 3.0 %

AROC stock opened at $26.42 on Friday. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 1.65 and a beta of 1.57. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. The business has a fifty day simple moving average of $27.11 and a 200-day simple moving average of $23.48. Archrock, Inc. has a 52 week low of $17.26 and a 52 week high of $30.44.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.88%. This is a boost from Archrock’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, February 12th. Archrock’s dividend payout ratio is 83.52%.

Analyst Ratings Changes

AROC has been the subject of several analyst reports. Royal Bank of Canada boosted their price target on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. upped their price objective on Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Archrock has an average rating of “Moderate Buy” and an average target price of $25.17.

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.