Archrock (NYSE:AROC) Given New $27.00 Price Target at JPMorgan Chase & Co.

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

A number of other analysts have also weighed in on the stock. Citigroup began 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 started coverage on shares of Archrock in a report on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price target on the stock. Royal Bank of Canada boosted their price objective on shares of Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Finally, Evercore ISI began coverage on Archrock in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Archrock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.17.

Archrock Stock Performance

Archrock stock opened at $25.62 on Friday. The stock’s 50 day moving average is $22.00 and its 200 day moving average is $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. Archrock has a twelve month low of $14.14 and a twelve month high of $26.36. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73.

Archrock (NYSE:AROC) last released its earnings results on Monday, November 11th. The energy company reported $0.28 EPS for the quarter, topping 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 firm had revenue of $292.16 million for the quarter, compared to analysts’ expectations of $286.19 million. During the same period in the prior year, the firm posted $0.20 earnings per share. The company’s quarterly revenue was up 15.3% on a year-over-year basis. On average, equities research analysts predict that Archrock will post 1.09 earnings per share for the current fiscal year.

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 2.73%. This is a boost from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, November 6th. Archrock’s payout ratio is presently 76.92%.

Institutional Investors Weigh In On Archrock

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kayne Anderson Capital Advisors LP raised its stake in Archrock by 1,680.2% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 1,530,440 shares of the energy company’s stock valued at $30,976,000 after buying an additional 1,444,471 shares during the last quarter. Boston Partners bought a new stake in shares of Archrock in the first quarter worth $24,875,000. Eagle Asset Management Inc. purchased a new stake in Archrock during the third quarter valued at $22,108,000. Millennium Management LLC lifted its holdings in Archrock by 60.3% in the second quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company’s stock valued at $47,389,000 after acquiring an additional 882,024 shares during the period. Finally, State Street Corp boosted its position in Archrock by 11.5% in the third 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. Hedge funds and other institutional investors own 95.45% of the company’s stock.

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.