Analysts Set Archrock, Inc. (NYSE:AROC) Price Target at $24.50

Shares of Archrock, Inc. (NYSE:AROC) have been assigned an average rating of “Buy” from the six research firms that are presently covering the company, MarketBeat reports. Six analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have covered the stock in the last year is $24.67.

AROC has been the topic of a number of research analyst reports. Citigroup started coverage on Archrock in a research note on Friday, September 27th. They issued a “buy” rating and a $24.00 price target on the stock. Stifel Nicolaus upped their price target on shares of Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Mizuho started coverage on shares of Archrock in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price target on the stock. Royal Bank of Canada upped their price objective on Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Evercore ISI started coverage on Archrock in a report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price target for the company.

Archrock Trading Down 0.2 %

Shares of AROC stock opened at $23.22 on Thursday. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 25.52 and a beta of 1.52. The company has a current ratio of 1.26, a quick ratio of 0.94 and a debt-to-equity ratio of 1.73. The firm has a 50-day moving average price of $20.92 and a 200 day moving average price of $20.34. Archrock has a twelve month low of $13.89 and a twelve month high of $24.71.

Archrock (NYSE:AROC) last announced its earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $292.16 million for the quarter, compared to analyst estimates of $286.19 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. Archrock’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.20 earnings per share. Research analysts forecast that Archrock will post 1.13 earnings per share for the current fiscal year.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued 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 dividend yield of 3.01%. Archrock’s dividend payout ratio (DPR) is 76.92%.

Institutional Trading of Archrock

Several large investors have recently added to or reduced their stakes in AROC. Vanguard Group Inc. boosted its stake in Archrock by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company’s stock valued at $360,385,000 after purchasing an additional 849,750 shares in the last quarter. Earnest Partners LLC boosted its position in shares of 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 in the last quarter. State Street Corp grew its stake in shares of 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 purchasing an additional 707,379 shares during the last quarter. American Century Companies Inc. lifted its stake in Archrock by 20.5% during the second 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 during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Archrock by 16.0% during the third 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. 95.45% of the stock is currently 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.