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

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Archrock, Inc. (NYSE:AROC) by 12.1% in the fourth quarter, Holdings Channel reports. The firm 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 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Monument Capital Management purchased a new position in Archrock in the 4th quarter valued at about $236,000. Allworth Financial LP boosted its position in Archrock by 646.8% in the 4th quarter. Allworth Financial LP now owns 14,466 shares of the energy company’s stock valued at $360,000 after buying an additional 12,529 shares during the last quarter. Montag A & Associates Inc. purchased a new position in Archrock in the 4th quarter valued at about $55,000. Rhumbline Advisers boosted its position in Archrock by 2.6% in the 4th quarter. Rhumbline Advisers now owns 476,326 shares of the energy company’s stock valued at $11,856,000 after buying an additional 12,177 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Archrock by 118,620.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 17,808 shares of the energy company’s stock valued at $451,000 after buying an additional 17,793 shares during the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Archrock Stock Performance

Shares of AROC stock opened at $26.42 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. Archrock, Inc. has a one year low of $17.26 and a one year high of $30.44. The company’s 50-day simple moving average is $27.11 and its 200-day simple moving average is $23.48. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 1.65 and a beta of 1.57.

Archrock Increases Dividend

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

Analyst Upgrades and Downgrades

AROC has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Royal Bank of Canada upped their price objective on shares of Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently 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.