Archrock, Inc. (NYSE:AROC) Shares Sold by Blackstone Inc.

Blackstone Inc. decreased its stake in Archrock, Inc. (NYSE:AROC - Free Report) by 85.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,323 shares of the energy company's stock after selling 677,440 shares during the period. Blackstone Inc. owned 0.06% of Archrock worth $2,796,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Atria Investments Inc boosted its stake in Archrock by 17.4% in the fourth quarter. Atria Investments Inc now owns 38,313 shares of the energy company's stock valued at $954,000 after acquiring an additional 5,665 shares in the last quarter. Barclays PLC grew its stake in Archrock by 124.2% during the 3rd quarter. Barclays PLC now owns 302,610 shares of the energy company's stock worth $6,125,000 after buying an additional 167,648 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Archrock by 94.5% in the third quarter. JPMorgan Chase & Co. now owns 422,383 shares of the energy company's stock valued at $8,549,000 after buying an additional 205,241 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Archrock in the fourth quarter valued at approximately $242,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Archrock by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,358,092 shares of the energy company's stock worth $58,693,000 after acquiring an additional 34,272 shares during the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Archrock Price Performance

Shares of AROC opened at $23.91 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. The stock's 50 day moving average is $24.52 and its two-hundred day moving average is $25.16. Archrock, Inc. has a twelve month low of $17.27 and a twelve month high of $30.44. The firm has a market capitalization of $4.19 billion, a PE ratio of 26.28, a P/E/G ratio of 1.60 and a beta of 1.19.

Archrock announced that its Board of Directors has approved a stock repurchase program on Monday, May 5th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the energy company to purchase up to 1.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Archrock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 13th. Investors 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 yield of 3.18%. The ex-dividend date is Tuesday, May 6th. Archrock's dividend payout ratio is presently 73.08%.

Analyst Ratings Changes

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

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.

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