Archrock (NYSE:AROC) Now Covered by Analysts at Evercore ISI

Evercore ISI assumed coverage on shares of Archrock (NYSE:AROC) in a research note issued to investors on Wednesday morning, Marketbeat.com reports. The firm issued an outperform rating and a $24.00 target price on the energy company’s stock.

AROC has been the subject of several other research reports. StockNews.com cut Archrock from a buy rating to a hold rating in a research note on Thursday, June 6th. Royal Bank of Canada reaffirmed an outperform rating and issued a $22.00 price objective on shares of Archrock in a research note on Wednesday, August 7th. Stifel Nicolaus lifted their target price on shares of Archrock from $23.00 to $25.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. began coverage on shares of 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 five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $22.00.

Archrock Stock Performance

Archrock stock opened at $20.91 on Wednesday. The business has a 50 day moving average of $20.02 and a 200-day moving average of $19.93. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.53 and a quick ratio of 0.94. Archrock has a 1 year low of $11.73 and a 1 year high of $23.44. The company has a market capitalization of $3.53 billion, a P/E ratio of 25.19 and a beta of 1.51.

Archrock (NYSE:AROC) last released its quarterly earnings results on Tuesday, July 30th. The energy company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. Archrock had a net margin of 13.20% and a return on equity of 16.35%. The firm had revenue of $270.53 million during the quarter, compared to the consensus estimate of $270.61 million. On average, equities research analysts predict that Archrock will post 1.07 earnings per share for the current year.

Archrock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were paid a $0.165 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.66 annualized dividend and a dividend yield of 3.16%. Archrock’s dividend payout ratio is presently 79.52%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AROC. GAMMA Investing LLC raised its position in shares of Archrock by 16.6% during the second quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock worth $82,000 after purchasing an additional 578 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Archrock by 0.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 84,245 shares of the energy company’s stock valued at $1,658,000 after buying an additional 710 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Archrock by 6.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,373 shares of the energy company’s stock worth $230,000 after acquiring an additional 713 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Archrock by 2.2% in the 2nd quarter. Van ECK Associates Corp now owns 35,280 shares of the energy company’s stock worth $713,000 after acquiring an additional 753 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in Archrock by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 41,565 shares of the energy company’s stock valued at $840,000 after acquiring an additional 821 shares in 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.