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

State of New Jersey Common Pension Fund D raised its holdings in shares of Archrock, Inc. (NYSE:AROC) by 2.5% during the third quarter, Holdings Channel.com reports. The fund owned 97,330 shares of the energy company’s stock after buying an additional 2,343 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Archrock were worth $1,970,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in Archrock during the first quarter valued at approximately $43,000. Janney Montgomery Scott LLC boosted its position in shares of Archrock by 9.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,065 shares of the energy company’s stock valued at $257,000 after acquiring an additional 1,079 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Archrock in the first quarter valued at $133,000. Russell Investments Group Ltd. increased its position in Archrock by 70.6% in the first 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 last quarter. Finally, ProShare Advisors LLC increased its position in Archrock by 7.4% in the first quarter. ProShare Advisors LLC now owns 28,001 shares of the energy company’s stock worth $551,000 after purchasing an additional 1,930 shares during the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AROC has been the subject of a number of analyst reports. Royal Bank of Canada increased their price target on shares of Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday. Mizuho began coverage on Archrock in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price objective for the company. JPMorgan Chase & Co. started coverage on Archrock in a research report on Friday, September 6th. They set an “overweight” rating and a $24.00 target price on the stock. Stifel Nicolaus increased their price target on Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Citigroup initiated coverage on shares of Archrock in a research note on Friday, September 27th. They set a “buy” rating and a $24.00 price objective for the company. One 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, Archrock has an average rating of “Moderate Buy” and an average target price of $24.67.

Archrock Stock Performance

AROC stock opened at $23.22 on Monday. Archrock, Inc. has a twelve month low of $13.89 and a twelve month high of $24.71. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 25.52 and a beta of 1.52. The business’s fifty day simple moving average is $20.92 and its two-hundred day simple moving average is $20.34. The company has a quick ratio of 0.94, a current ratio of 1.26 and a debt-to-equity ratio of 1.73.

Archrock (NYSE:AROC) last posted its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $292.16 million during the quarter, compared to analyst estimates of $286.19 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.20 EPS. Analysts predict that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

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

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.