Corebridge Financial Inc. Sells 6,726 Shares of Archrock, Inc. (NYSE:AROC)

Corebridge Financial Inc. trimmed its holdings in shares of Archrock, Inc. (NYSE:AROC) by 7.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 89,148 shares of the energy company’s stock after selling 6,726 shares during the quarter. Corebridge Financial Inc.’s holdings in Archrock were worth $2,219,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. lifted its stake in Archrock by 0.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 50,654 shares of the energy company’s stock worth $1,025,000 after purchasing an additional 427 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in shares of Archrock by 1.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 48,091 shares of the energy company’s stock worth $1,197,000 after buying an additional 796 shares during the period. Glenmede Trust Co. NA boosted its stake in Archrock by 2.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 31,485 shares of the energy company’s stock valued at $637,000 after buying an additional 838 shares in the last quarter. Yousif Capital Management LLC raised its stake in Archrock by 1.6% during the fourth quarter. Yousif Capital Management LLC now owns 66,087 shares of the energy company’s stock worth $1,645,000 after acquiring an additional 1,047 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Archrock by 1.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 61,383 shares of the energy company’s stock valued at $1,528,000 after acquiring an additional 1,108 shares during the period. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Archrock Price Performance

Shares of AROC stock opened at $26.45 on Wednesday. Archrock, Inc. has a 52 week low of $17.27 and a 52 week high of $30.44. The stock has a market capitalization of $4.64 billion, a PE ratio of 29.06, a PEG ratio of 1.60 and a beta of 1.56. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. The stock’s fifty day moving average is $26.90 and its 200-day moving average is $24.72.

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.19 per share. The ex-dividend date was Wednesday, February 12th. This represents a $0.76 dividend on an annualized basis and a yield of 2.87%. This is a positive change from Archrock’s previous quarterly dividend of $0.18. Archrock’s dividend payout ratio is currently 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.