Archrock Inc Announces Quarterly Dividend of $0.15 (NYSE:AROC)

Archrock Inc (NYSE:AROC) announced a quarterly dividend on Wednesday, July 29th, Zacks reports. Investors of record on Monday, August 10th will be paid a dividend of 0.145 per share by the energy company on Friday, August 14th. This represents a $0.58 annualized dividend and a yield of 8.91%. The ex-dividend date is Friday, August 7th.

Archrock has raised its dividend payment by an average of 11.4% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Archrock has a payout ratio of -828.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Archrock to earn $0.32 per share next year, which means the company may not be able to cover its $0.58 annual dividend with an expected future payout ratio of 181.3%.

AROC traded down $0.49 during trading on Friday, hitting $6.51. The company’s stock had a trading volume of 18,286 shares, compared to its average volume of 969,867. The firm’s 50 day moving average price is $6.48 and its two-hundred day moving average price is $6.18. The company has a quick ratio of 0.96, a current ratio of 1.42 and a debt-to-equity ratio of 1.83. Archrock has a 12 month low of $2.09 and a 12 month high of $11.43. The stock has a market capitalization of $994.05 million, a price-to-earnings ratio of 54.42 and a beta of 2.87.

Archrock (NYSE:AROC) last issued its quarterly earnings data on Thursday, July 30th. The energy company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.30). Archrock had a net margin of 1.70% and a return on equity of 9.61%. The business had revenue of $220.32 million during the quarter, compared to the consensus estimate of $236.82 million. On average, sell-side analysts forecast that Archrock will post 0.32 earnings per share for the current year.

Several equities analysts have issued reports on AROC shares. Stifel Nicolaus assumed coverage on Archrock in a research report on Monday, June 29th. They issued a “buy” rating and a $8.00 price objective for the company. ValuEngine upgraded Archrock from a “sell” rating to a “hold” rating in a research report on Thursday. B. Riley assumed coverage on Archrock in a research report on Monday, June 29th. They set a “buy” rating and a $8.00 target price for the company. Zacks Investment Research downgraded Archrock from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Finally, TheStreet upgraded Archrock from a “d+” rating to a “c-” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $7.67.

Archrock Company Profile

Archrock, Inc engages in the provision of operations, maintenance, service, and equipment for oil and natural gas production, processing, and transportation applications. It operates through the Contract Operations and Aftermarket Services segments. The Contract Operations segment is comprised of equity investment in the partnership, in addition to the owned fleet of natural gas compression equipment that the company use to provide operations services.

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Dividend History for Archrock (NYSE:AROC)

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