Archrock (NYSE:AROC) Price Target Raised to $26.00

Archrock (NYSE:AROC) had its target price boosted by Royal Bank of Canada from $22.00 to $26.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the energy company’s stock.

Several other research analysts have also commented on the stock. Evercore ISI assumed coverage on shares of Archrock in a report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price objective for the company. Citigroup began coverage on shares of Archrock in a research note on Friday, September 27th. They issued a “buy” rating and a $24.00 price target for the company. Mizuho assumed coverage on Archrock in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price objective on the stock. Stifel Nicolaus increased their target price on Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. started coverage on Archrock in a research report on Friday, September 6th. They set an “overweight” rating and a $24.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.14.

Archrock Stock Performance

Archrock stock opened at $21.46 on Wednesday. Archrock has a 1-year low of $12.41 and a 1-year high of $23.44. The firm has a market cap of $3.35 billion, a P/E ratio of 25.86 and a beta of 1.51. The company has a current ratio of 1.53, a quick ratio of 0.94 and a debt-to-equity ratio of 1.80. The firm has a 50-day moving average of $20.07 and a 200-day moving average of $20.14.

Archrock (NYSE:AROC) last issued its quarterly earnings data on Tuesday, July 30th. The energy company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Archrock had a return on equity of 16.35% and a net margin of 13.20%. The firm had revenue of $270.53 million for the quarter, compared to analyst estimates of $270.61 million. Sell-side analysts expect that Archrock will post 1.07 EPS for the current year.

Archrock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were given a $0.165 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.08%. Archrock’s dividend payout ratio is currently 79.52%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Archrock by 4.9% in the first quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company’s stock worth $360,385,000 after acquiring an additional 849,750 shares during the last quarter. Earnest Partners LLC grew its position in Archrock by 2.6% during the 1st quarter. Earnest Partners LLC now owns 14,007,955 shares of the energy company’s stock valued at $275,536,000 after purchasing an additional 351,391 shares during the last quarter. Sei Investments Co. grew its position in Archrock by 5.8% during the 1st quarter. Sei Investments Co. now owns 5,409,863 shares of the energy company’s stock valued at $106,412,000 after purchasing an additional 295,998 shares during the last quarter. American Century Companies Inc. increased its stake in Archrock by 20.5% during the 2nd quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company’s stock valued at $80,036,000 after purchasing an additional 672,663 shares in the last quarter. Finally, Energy Income Partners LLC raised its holdings in Archrock by 4.9% in the first quarter. Energy Income Partners LLC now owns 2,468,897 shares of the energy company’s stock worth $48,563,000 after buying an additional 116,298 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.

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.