Archrock, Inc. (NYSE:AROC) Given Average Recommendation of “Buy” by Brokerages

Archrock, Inc. (NYSE:AROC) has been given an average recommendation of “Buy” by the six analysts that are currently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $22.33.

AROC has been the subject of several research analyst reports. Stifel Nicolaus boosted their price objective on shares of Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. StockNews.com downgraded 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 target on shares of Archrock in a research note on Wednesday, August 7th. Evercore ISI began coverage on shares of Archrock in a report on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price objective for the company. Finally, Citigroup began coverage on shares of Archrock in a report on Friday. They issued a “buy” rating and a $24.00 target price on the stock.

Hedge Funds Weigh In On Archrock

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Archrock by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company’s stock valued at $360,385,000 after purchasing an additional 849,750 shares during the last quarter. Earnest Partners LLC increased its holdings in shares of Archrock by 2.6% during the first quarter. Earnest Partners LLC now owns 14,007,955 shares of the energy company’s stock worth $275,536,000 after buying an additional 351,391 shares in the last quarter. Blackstone Inc. lifted its stake in shares of Archrock by 4,211.9% in the 4th quarter. Blackstone Inc. now owns 5,903,142 shares of the energy company’s stock valued at $90,908,000 after acquiring an additional 5,766,237 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Archrock by 5.8% during the 1st quarter. Sei Investments Co. now owns 5,409,863 shares of the energy company’s stock valued at $106,412,000 after acquiring an additional 295,998 shares in the last quarter. Finally, American Century Companies Inc. grew its position 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 acquiring an additional 672,663 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.

Archrock Stock Up 1.1 %

AROC opened at $20.39 on Wednesday. Archrock has a fifty-two week low of $11.73 and a fifty-two week high of $23.44. The company has a market capitalization of $3.19 billion, a P/E ratio of 24.57 and a beta of 1.51. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.53 and a quick ratio of 0.94. The firm’s fifty day moving average price is $19.92 and its two-hundred day moving average price is $19.96.

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

Archrock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend was Tuesday, August 6th. Archrock’s dividend payout ratio (DPR) is presently 79.52%.

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.