Archrock, Inc. (NYSE:AROC) is Apollo Management Holdings L.P.’s 8th Largest Position

Apollo Management Holdings L.P. cut its stake in shares of Archrock, Inc. (NYSE:AROC) by 50.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,436,825 shares of the energy company’s stock after selling 3,436,825 shares during the period. Archrock accounts for approximately 1.2% of Apollo Management Holdings L.P.’s holdings, making the stock its 8th biggest holding. Apollo Management Holdings L.P.’s holdings in Archrock were worth $85,543,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Archrock by 0.9% in the 3rd 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 last quarter. Summit Investment Advisors Inc. increased its position in shares of Archrock by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 17,459 shares of the energy company’s stock valued at $435,000 after purchasing an additional 553 shares during the period. Hennion & Walsh Asset Management Inc. increased 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 valued at $1,197,000 after purchasing an additional 796 shares during the period. Yousif Capital Management LLC increased its position in shares of Archrock by 1.6% during the 4th quarter. Yousif Capital Management LLC now owns 66,087 shares of the energy company’s stock valued at $1,645,000 after purchasing an additional 1,047 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of Archrock by 1.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 61,383 shares of the energy company’s stock valued at $1,528,000 after purchasing an additional 1,108 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Citigroup lifted 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 equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Archrock currently has a consensus rating of “Moderate Buy” and an average price target of $26.67.

Archrock Stock Performance

Shares of AROC stock opened at $24.28 on Wednesday. Archrock, Inc. has a 1-year low of $17.27 and a 1-year high of $30.44. 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 company has a market capitalization of $4.26 billion, a price-to-earnings ratio of 26.68, a P/E/G ratio of 1.60 and a beta of 1.25. The stock’s fifty day simple moving average is $24.71 and its 200-day simple moving average is $25.06.

Archrock Announces Dividend

The company also recently declared 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. The ex-dividend date is Tuesday, May 6th. This represents a $0.76 annualized dividend and a dividend yield of 3.13%. Archrock’s dividend 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.