Archrock (NYSE:AROC) Given New $26.00 Price Target at Royal Bank of Canada

Archrock (NYSE:AROC) had its price target boosted by Royal Bank of Canada from $22.00 to $26.00 in a report released on Wednesday, Benzinga reports. The firm currently has an outperform rating on the energy company’s stock.

A number of other equities analysts have also recently issued reports on the company. Citigroup assumed coverage on Archrock in a report on Friday, September 27th. They issued a “buy” rating and a $24.00 price objective for the company. Evercore ISI started coverage on shares of Archrock in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price objective for the company. Mizuho assumed coverage on shares of Archrock in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price target for the company. Stifel Nicolaus lifted their price objective on Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. started coverage on Archrock in a research report on Friday, September 6th. They set an “overweight” rating and a $24.00 price target on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.50.

Archrock Trading Down 2.1 %

Shares of Archrock stock opened at $20.67 on Wednesday. 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 $12.41 and a 1 year high of $23.44. The firm has a market cap of $3.23 billion, a PE ratio of 24.90 and a beta of 1.51. The company has a 50 day simple moving average of $20.15 and a two-hundred day simple moving average of $20.15.

Archrock (NYSE:AROC) last posted its quarterly earnings data on Tuesday, July 30th. The energy company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $270.53 million during the quarter, compared to the consensus estimate of $270.61 million. Archrock had a net margin of 13.20% and a return on equity of 16.35%. Analysts expect that Archrock will post 1.07 earnings per share for the current fiscal year.

Archrock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.66 dividend on an annualized basis and a yield of 3.19%. Archrock’s dividend payout ratio is presently 79.52%.

Institutional Investors Weigh In On Archrock

Several institutional investors and hedge funds have recently bought and sold shares of the business. UniSuper Management Pty Ltd bought a new position in shares of Archrock during the first quarter valued at approximately $852,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Archrock by 18.2% in the 1st 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 in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Archrock by 77.2% in the 1st quarter. BNP Paribas Financial Markets now owns 69,992 shares of the energy company’s stock worth $1,377,000 after purchasing an additional 30,493 shares during the period. Quantbot Technologies LP bought a new stake in shares of Archrock during the 1st quarter valued at about $1,251,000. Finally, Fisher Asset Management LLC purchased a new position in shares of Archrock during the fourth quarter valued at about $752,000. Hedge funds and other 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.