Apollo Management Holdings L.P. Sells 3,436,825 Shares of Archrock, Inc. (NYSE:AROC)

Apollo Management Holdings L.P. decreased its position in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 50.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,436,825 shares of the energy company's stock after selling 3,436,825 shares during the period. Archrock accounts for 1.2% of Apollo Management Holdings L.P.'s holdings, making the stock its 8th biggest position. Apollo Management Holdings L.P. owned 1.96% of Archrock worth $85,543,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in shares of Archrock during the fourth quarter valued at $36,241,000. Invesco Ltd. increased its holdings in Archrock by 12.8% in the fourth quarter. Invesco Ltd. now owns 8,883,949 shares of the energy company's stock valued at $221,121,000 after buying an additional 1,008,438 shares in the last quarter. Clearbridge Investments LLC purchased a new position in shares of Archrock during the 4th quarter valued at approximately $17,247,000. JPMorgan Chase & Co. grew its position in shares of Archrock by 135.1% in the fourth quarter. JPMorgan Chase & Co. now owns 993,063 shares of the energy company's stock valued at $24,717,000 after purchasing an additional 570,680 shares during the period. Finally, Federated Hermes Inc. increased its position in shares of Archrock by 1,585,722.9% during the fourth quarter. Federated Hermes Inc. now owns 555,038 shares of the energy company's stock worth $13,815,000 after purchasing an additional 555,003 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company's stock.

Analyst Upgrades and Downgrades

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

Archrock Trading Down 1.1 %

Shares of AROC stock traded down $0.27 on Monday, reaching $24.29. 419,978 shares of the stock were exchanged, compared to its average volume of 1,463,342. Archrock, Inc. has a 1-year low of $17.27 and a 1-year high of $30.44. The stock has a market cap of $4.26 billion, a P/E ratio of 26.71, a price-to-earnings-growth ratio of 1.60 and a beta of 1.19. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. The firm has a 50 day moving average of $24.57 and a two-hundred day moving average of $25.14.

Archrock Dividend Announcement

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

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.