Archrock, Inc. (NYSE:AROC) Receives $25.17 Average Price Target from Brokerages

Shares of Archrock, Inc. (NYSE:AROC) have been assigned a consensus recommendation of “Buy” from the six analysts that are presently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have covered the stock in the last year is $25.17.

Several analysts have commented on AROC shares. JPMorgan Chase & Co. lifted their target price on shares of Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Royal Bank of Canada boosted their price objective on shares of Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Citigroup initiated coverage on shares of Archrock in a research note on Friday, September 27th. They set a “buy” rating and a $24.00 price objective for the company. Mizuho initiated coverage on shares of Archrock in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price objective for the company. Finally, Evercore ISI initiated coverage on shares of Archrock in a research note on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price objective for the company.

Archrock Stock Down 0.1 %

AROC stock opened at $25.33 on Friday. The stock has a market capitalization of $4.44 billion, a P/E ratio of 27.84 and a beta of 1.58. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. Archrock has a one year low of $14.39 and a one year high of $27.05. The company has a 50 day moving average price of $24.51 and a two-hundred day moving average price of $21.82.

Archrock (NYSE:AROC) last released its earnings results on Monday, November 11th. The energy company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $292.16 million during the quarter, compared to analysts’ expectations of $286.19 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. Archrock’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.20 EPS. As a group, sell-side analysts expect that Archrock will post 1.09 EPS for the current year.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued a dividend of $0.175 per share. This is a positive change from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, November 6th. This represents a $0.70 annualized dividend and a dividend yield of 2.76%. Archrock’s payout ratio is presently 76.92%.

Hedge Funds Weigh In On Archrock

A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in Archrock by 11.5% in the 3rd quarter. State Street Corp now owns 6,836,745 shares of the energy company’s stock worth $138,376,000 after buying an additional 707,379 shares in the last quarter. American Century Companies Inc. lifted its holdings in Archrock by 20.5% in the 2nd quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company’s stock worth $80,036,000 after buying an additional 672,663 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Archrock by 16.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,794,981 shares of the energy company’s stock worth $76,826,000 after buying an additional 523,825 shares in the last quarter. Millennium Management LLC increased its position in shares of Archrock by 60.3% in the 2nd quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company’s stock worth $47,389,000 after purchasing an additional 882,024 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Archrock by 13.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,323,820 shares of the energy company’s stock worth $47,034,000 after purchasing an additional 274,763 shares during the last quarter. Institutional investors and hedge funds 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.