Archrock, Inc. $AROC Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its stake in shares of Archrock, Inc. (NYSE:AROC) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,938 shares of the energy company’s stock after purchasing an additional 1,986 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Archrock were worth $1,910,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky lifted its holdings in Archrock by 34.4% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 55,528 shares of the energy company’s stock valued at $1,457,000 after acquiring an additional 14,200 shares during the last quarter. KBC Group NV grew its stake in shares of Archrock by 13.2% in the first quarter. KBC Group NV now owns 8,030 shares of the energy company’s stock valued at $211,000 after buying an additional 937 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Archrock by 26.7% in the first quarter. GAMMA Investing LLC now owns 9,098 shares of the energy company’s stock valued at $239,000 after buying an additional 1,917 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Archrock by 53.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 27,402 shares of the energy company’s stock worth $725,000 after acquiring an additional 9,594 shares during the period. Finally, Jump Financial LLC purchased a new stake in shares of Archrock during the first quarter worth $5,757,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Archrock

In other news, Director Jason C. Rebrook purchased 5,000 shares of the stock in a transaction on Monday, September 22nd. The stock was purchased at an average price of $23.94 per share, with a total value of $119,700.00. Following the completion of the transaction, the director owned 79,511 shares in the company, valued at approximately $1,903,493.34. The trade was a 6.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Eric W. Thode sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $23.54, for a total value of $235,400.00. Following the completion of the sale, the senior vice president directly owned 224,809 shares of the company’s stock, valued at $5,292,003.86. The trade was a 4.26% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.60% of the stock is currently owned by insiders.

Archrock Stock Down 0.5%

AROC opened at $25.28 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.81 and a debt-to-equity ratio of 1.86. The company has a market cap of $4.44 billion, a PE ratio of 16.85, a P/E/G ratio of 1.29 and a beta of 1.07. Archrock, Inc. has a 52 week low of $19.73 and a 52 week high of $30.44. The business has a 50 day moving average price of $24.88 and a two-hundred day moving average price of $24.47.

Archrock (NYSE:AROC) last released its quarterly earnings data on Tuesday, October 28th. The energy company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.01. The firm had revenue of $382.43 million during the quarter, compared to the consensus estimate of $379.29 million. Archrock had a return on equity of 20.40% and a net margin of 18.43%.Archrock’s quarterly revenue was up 30.9% on a year-over-year basis. During the same period last year, the business posted $0.28 EPS. As a group, research analysts anticipate that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Tuesday, November 4th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, November 4th. Archrock’s payout ratio is 56.00%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AROC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Archrock in a research report on Wednesday, October 8th. Wells Fargo & Company began coverage on Archrock in a research note on Wednesday, September 3rd. They set an “overweight” rating and a $30.00 target price for the company. Zacks Research raised Archrock from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Evercore ISI lifted their price target on Archrock from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Royal Bank Of Canada lifted their price target on Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $31.50.

About Archrock

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.