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

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

Several other research firms also recently commented on AROC. Royal Bank of Canada increased their price objective on shares of Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Mizuho started coverage on Archrock in a report on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price target for the company. Evercore ISI started coverage on Archrock in a report on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price objective on the stock. Finally, Citigroup began coverage on Archrock in a research report on Friday, September 27th. They set a “buy” rating and a $24.00 target price for the company. One research analyst has rated the stock with a hold rating and six have issued 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 target price of $25.17.

Archrock Stock Performance

NYSE:AROC opened at $25.62 on Friday. The stock has a 50-day moving average price of $22.00 and a 200 day moving average price of $20.69. The stock has a market capitalization of $4.49 billion, a P/E ratio of 28.15 and a beta of 1.52. Archrock has a 12-month low of $14.14 and a 12-month high of $26.36. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73.

Archrock (NYSE:AROC) last announced its quarterly earnings data on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The business had revenue of $292.16 million during the quarter, compared to analyst estimates of $286.19 million. During the same period last year, the firm posted $0.20 EPS. The company’s revenue was up 15.3% on a year-over-year basis. Equities research analysts forecast that Archrock will post 1.09 EPS 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 paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 2.73%. This is a positive change from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, November 6th. Archrock’s dividend payout ratio (DPR) is presently 76.92%.

Hedge Funds Weigh In On Archrock

Several large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its position in Archrock by 70.6% during the first quarter. Russell Investments Group Ltd. now owns 5,946 shares of the energy company’s stock valued at $117,000 after acquiring an additional 2,461 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in Archrock during the 1st quarter valued at about $210,000. Price T Rowe Associates Inc. MD raised its position in Archrock by 0.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 84,245 shares of the energy company’s stock worth $1,658,000 after purchasing an additional 710 shares during the period. Boston Partners bought a new stake in Archrock in the first quarter worth about $24,875,000. Finally, GAMMA Investing LLC boosted its position in shares of Archrock by 16.6% during the second quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock valued at $82,000 after buying an additional 578 shares during the period. 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.