Archrock (NYSE:AROC) Sets New 1-Year High – Here’s What Happened

Shares of Archrock, Inc. (NYSE:AROC) reached a new 52-week high during trading on Tuesday . The stock traded as high as $30.10 and last traded at $29.96, with a volume of 2386 shares changing hands. The stock had previously closed at $29.73.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AROC shares. Citigroup started coverage on shares of Archrock in a research report on Friday, September 27th. They set a “buy” rating and a $24.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Mizuho started coverage on Archrock in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 target price on the stock. Royal Bank of Canada upped their price target on Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Finally, Evercore ISI initiated coverage on shares of Archrock in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.17.

Archrock Price Performance

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’s 50 day moving average is $25.57 and its 200 day moving average is $22.28. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 1.80 and a beta of 1.58.

Archrock (NYSE:AROC) last announced its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $292.16 million during the quarter, compared to analysts’ expectations of $286.19 million. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the business posted $0.20 earnings per share. Research analysts forecast that Archrock, Inc. will post 1.12 earnings per share for the current fiscal year.

Archrock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were paid a $0.175 dividend. This is an increase from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.70 annualized dividend and a yield of 2.33%. Archrock’s payout ratio is presently 76.92%.

Hedge Funds Weigh In On Archrock

Several institutional investors and hedge funds have recently modified their holdings of AROC. Brown Brothers Harriman & Co. acquired a new position in Archrock in the 3rd quarter valued at $28,000. Wolff Wiese Magana LLC purchased a new stake in shares of Archrock in the third quarter valued at $30,000. Continuum Advisory LLC increased its stake in Archrock by 5,621.6% in the third quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company’s stock valued at $43,000 after purchasing an additional 2,080 shares during the last quarter. Millburn Ridgefield Corp purchased a new position in Archrock during the third quarter worth about $50,000. Finally, Quarry LP purchased a new position in Archrock during the second quarter worth about $52,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

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.