Archrock (NYSE:AROC) Price Target Raised to $27.00

Archrock (NYSE:AROC) had its price objective upped by JPMorgan Chase & Co. from $25.00 to $27.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the energy company’s stock.

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

Archrock Stock Performance

NYSE AROC opened at $25.62 on Friday. Archrock has a 52-week low of $14.14 and a 52-week high of $26.36. The company has a fifty day moving average of $22.00 and a 200-day moving average of $20.70. The company has a market capitalization of $4.49 billion, a P/E ratio of 28.15 and a beta of 1.52. 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 (NYSE:AROC) last released 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. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The business had revenue of $292.16 million for the quarter, compared to the consensus estimate of $286.19 million. During the same quarter last year, the business posted $0.20 earnings per share. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, equities research analysts predict that Archrock will post 1.09 EPS for the current fiscal year.

Archrock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Wednesday, November 6th. This is a positive change from Archrock’s previous quarterly dividend of $0.17. Archrock’s dividend payout ratio (DPR) is 76.92%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AROC. Brown Brothers Harriman & Co. purchased a new stake in shares of Archrock in the 3rd quarter worth about $28,000. Wolff Wiese Magana LLC purchased a new stake in Archrock in the third quarter worth about $30,000. Continuum Advisory LLC lifted its holdings in Archrock by 5,621.6% in the third quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company’s stock worth $43,000 after buying an additional 2,080 shares during the period. Millburn Ridgefield Corp purchased a new position in shares of Archrock during the 3rd quarter worth approximately $50,000. Finally, Quarry LP bought a new position in shares of Archrock in the 2nd quarter worth approximately $52,000. 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.