Corebridge Financial Inc. Has $2.22 Million Holdings in Archrock, Inc. (NYSE:AROC)

Corebridge Financial Inc. decreased its stake in shares of Archrock, Inc. (NYSE:AROC) by 7.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 89,148 shares of the energy company’s stock after selling 6,726 shares during the period. Corebridge Financial Inc. owned 0.05% of Archrock worth $2,219,000 as of its most recent filing with the SEC.

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

Archrock Price Performance

Shares of Archrock stock opened at $26.45 on Wednesday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82. The company has a market cap of $4.64 billion, a PE ratio of 29.06, a price-to-earnings-growth ratio of 1.60 and a beta of 1.56. The firm has a fifty day moving average price of $26.90 and a two-hundred day moving average price of $24.72. Archrock, Inc. has a fifty-two week low of $17.27 and a fifty-two week high of $30.44.

Archrock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from Archrock’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 2.87%. Archrock’s dividend payout ratio (DPR) is 73.08%.

Wall Street Analyst Weigh In

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

About Archrock

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.