Archrock (NYSE:AROC) Price Target Raised to $27.00

Archrock (NYSE:AROC) had its price target raised by Royal Bank of Canada from $26.00 to $27.00 in a research note published on Thursday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the energy company’s stock.

Several other research firms have also commented on AROC. Mizuho assumed coverage on shares of Archrock in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price objective for the company. Stifel Nicolaus increased their price objective on Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. started coverage on Archrock in a research note on Friday, September 6th. They set an “overweight” rating and a $24.00 target price on the stock. Evercore ISI began coverage on Archrock in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price target for the company. Finally, Citigroup assumed coverage on Archrock in a research note on Friday, September 27th. They set a “buy” rating and a $24.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Archrock currently has an average rating of “Moderate Buy” and an average price target of $24.67.

Archrock Stock Down 0.2 %

Shares of NYSE AROC opened at $23.22 on Thursday. Archrock has a 12-month low of $13.89 and a 12-month high of $24.71. The stock’s fifty day simple moving average is $20.92 and its two-hundred day simple moving average is $20.34. The stock has a market capitalization of $4.07 billion, a PE ratio of 25.52 and a beta of 1.52. The company has a current ratio of 1.26, a quick ratio of 0.94 and a debt-to-equity ratio of 1.73.

Archrock (NYSE:AROC) last issued its quarterly earnings data on Monday, November 11th. The energy company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $292.16 million for the quarter, compared to the consensus estimate of $286.19 million. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.20 earnings per share. As a group, analysts expect that Archrock will post 1.13 EPS for the current fiscal year.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were given a dividend of $0.175 per share. The ex-dividend date was Wednesday, November 6th. This is a positive change from Archrock’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a yield of 3.01%. Archrock’s dividend payout ratio (DPR) is currently 76.92%.

Institutional Trading of Archrock

Several large investors have recently made changes to their positions in AROC. UniSuper Management Pty Ltd acquired a new position in Archrock during the first quarter valued at $852,000. BNP Paribas Financial Markets grew its holdings in Archrock by 77.2% during the first quarter. BNP Paribas Financial Markets now owns 69,992 shares of the energy company’s stock worth $1,377,000 after acquiring an additional 30,493 shares during the period. Algert Global LLC raised its position in Archrock by 175.7% during the second quarter. Algert Global LLC now owns 567,240 shares of the energy company’s stock valued at $11,470,000 after acquiring an additional 361,520 shares in the last quarter. Quest Partners LLC raised its position in Archrock by 145.8% during the second quarter. Quest Partners LLC now owns 76,650 shares of the energy company’s stock valued at $1,550,000 after acquiring an additional 45,466 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in Archrock by 15.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 207,351 shares of the energy company’s stock valued at $4,079,000 after acquiring an additional 27,625 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.

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.