Archrock (NYSE:AROC) Coverage Initiated by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Archrock (NYSE:AROC) in a research note issued to investors on Friday morning, Marketbeat reports. The brokerage issued an overweight rating and a $24.00 target price on the energy company’s stock.

Several other equities research analysts have also issued reports on AROC. Royal Bank of Canada restated an outperform rating and issued a $22.00 target price on shares of Archrock in a report on Wednesday, August 7th. Stifel Nicolaus increased their price target on Archrock from $23.00 to $25.00 and gave the stock a buy rating in a report on Wednesday, July 24th. Finally, StockNews.com downgraded Archrock from a buy rating to a hold rating in a research report on Thursday, June 6th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Archrock presently has an average rating of Moderate Buy and an average price target of $21.50.

Archrock Trading Down 1.1 %

Archrock stock opened at $19.17 on Friday. Archrock has a one year low of $11.73 and a one year high of $23.44. The business’s fifty day moving average is $20.35 and its 200 day moving average is $19.75. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.53 and a quick ratio of 0.94. The stock has a market capitalization of $3.00 billion, a PE ratio of 23.06 and a beta of 1.51.

Archrock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date was Tuesday, August 6th. Archrock’s dividend payout ratio (DPR) is 79.52%.

Hedge Funds Weigh In On Archrock

A number of institutional investors have recently made changes to their positions in the stock. Trexquant Investment LP boosted its stake in Archrock by 56.0% in the 4th quarter. Trexquant Investment LP now owns 110,519 shares of the energy company’s stock worth $1,702,000 after buying an additional 39,686 shares during the last quarter. UniSuper Management Pty Ltd acquired a new stake in shares of Archrock in the first quarter worth approximately $852,000. Sei Investments Co. grew its holdings in Archrock by 37.7% in the fourth quarter. Sei Investments Co. now owns 5,113,865 shares of the energy company’s stock valued at $78,753,000 after purchasing an additional 1,399,309 shares during the period. Allianz Asset Management GmbH increased its position in Archrock by 302.9% during the fourth quarter. Allianz Asset Management GmbH now owns 912,784 shares of the energy company’s stock worth $14,057,000 after purchasing an additional 686,242 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Archrock by 18.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,270,818 shares of the energy company’s stock worth $24,997,000 after purchasing an additional 195,549 shares during the period. 95.45% of the stock is owned by institutional investors and hedge funds.

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.