State of Tennessee Department of Treasury Has $1.77 Million Stake in Archrock, Inc. (NYSE:AROC)

State of Tennessee Department of Treasury lessened its stake in shares of Archrock, Inc. (NYSE:AROC) by 11.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 70,966 shares of the energy company’s stock after selling 9,052 shares during the period. State of Tennessee Department of Treasury’s holdings in Archrock were worth $1,766,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Wolverine Asset Management LLC lifted its holdings in Archrock by 111.8% in the 4th quarter. Wolverine Asset Management LLC now owns 1,504 shares of the energy company’s stock worth $37,000 after purchasing an additional 14,200 shares during the last quarter. Montag A & Associates Inc. acquired a new position in Archrock in the 4th quarter valued at $55,000. R Squared Ltd bought a new position in Archrock in the 4th quarter worth $76,000. Hantz Financial Services Inc. acquired a new position in Archrock during the 4th quarter worth $107,000. Finally, Covestor Ltd lifted its position in Archrock by 580.6% during the 4th quarter. Covestor Ltd now owns 4,485 shares of the energy company’s stock worth $111,000 after acquiring an additional 3,826 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.

Analyst Ratings Changes

Separately, Citigroup raised their price target on Archrock from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Archrock presently has an average rating of “Moderate Buy” and an average price target of $26.67.

Archrock Stock Performance

AROC opened at $24.28 on Wednesday. The stock has a market cap of $4.26 billion, a PE ratio of 26.68, a P/E/G ratio of 1.60 and a beta of 1.25. Archrock, Inc. has a 1 year low of $17.27 and a 1 year high of $30.44. The stock’s 50 day simple moving average is $24.71 and its 200-day simple moving average is $25.06. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73.

Archrock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Tuesday, May 6th. Archrock’s payout ratio is 73.08%.

Archrock 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.