Archrock, Inc. (NYSE:AROC) Receives Consensus Rating of “Buy” from Analysts

Archrock, Inc. (NYSE:AROC) has earned an average recommendation of “Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $25.17.

AROC has been the topic of several analyst reports. Citigroup initiated coverage on Archrock in a report on Friday, September 27th. They set a “buy” rating and a $24.00 target price on the stock. Evercore ISI started coverage on shares of Archrock in a research note on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price objective on the stock. Royal Bank of Canada boosted their target price on shares of Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. increased their price target on shares of Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. Finally, Mizuho started coverage on shares of Archrock in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price objective for the company.

Institutional Investors Weigh In On Archrock

Several hedge funds have recently modified their holdings of the company. State Street Corp grew its holdings in shares of Archrock by 11.5% during 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. American Century Companies Inc. lifted its holdings in Archrock by 20.5% during the 2nd quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company’s stock worth $80,036,000 after buying an additional 672,663 shares during the period. Geode Capital Management LLC increased its stake in shares of Archrock by 16.0% in the third quarter. Geode Capital Management LLC now owns 3,794,981 shares of the energy company’s stock valued at $76,826,000 after buying an additional 523,825 shares during the period. Millennium Management LLC increased its stake in shares of 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 buying an additional 882,024 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Archrock by 13.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,323,820 shares of the energy company’s stock worth $47,034,000 after purchasing an additional 274,763 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Archrock Stock Up 0.6 %

AROC stock opened at $26.00 on Monday. Archrock has a fifty-two week low of $14.39 and a fifty-two week high of $27.05. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 28.57 and a beta of 1.59. The business’s fifty day moving average price is $23.00 and its two-hundred day moving average price is $21.08.

Archrock (NYSE:AROC) last released its quarterly 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. The business 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 for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the firm earned $0.20 earnings per share. On average, equities analysts anticipate that Archrock will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Wednesday, November 6th. This is a boost from Archrock’s previous quarterly dividend of $0.17. Archrock’s payout ratio is presently 76.92%.

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.