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

Shares of Archrock, Inc. (NYSE:AROC) have been assigned a consensus recommendation of “Buy” from the three research firms that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $19.67.

AROC has been the topic of several research reports. Stifel Nicolaus raised their target price on Archrock from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Royal Bank of Canada upped their target price on shares of Archrock from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th.

Hedge Funds Weigh In On Archrock

Several hedge funds have recently made changes to their positions in the company. Louisiana State Employees Retirement System purchased a new position in shares of Archrock during the fourth quarter worth $1,058,000. Chase Investment Counsel Corp acquired a new stake in shares of Archrock during the 4th quarter worth approximately $1,909,000. Blackstone Inc. acquired a new position in shares of Archrock in the 3rd quarter valued at $1,725,000. Envestnet Asset Management Inc. boosted its holdings in Archrock by 110.5% during the third quarter. Envestnet Asset Management Inc. now owns 971,477 shares of the energy company’s stock worth $12,241,000 after buying an additional 509,862 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Archrock during the third quarter valued at $620,000. 95.45% of the stock is owned by institutional investors and hedge funds.

Archrock Stock Performance

Shares of AROC stock opened at $20.18 on Friday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.74 and a current ratio of 1.26. Archrock has a fifty-two week low of $8.92 and a fifty-two week high of $21.40. The company has a market capitalization of $3.15 billion, a P/E ratio of 24.31, a PEG ratio of 2.82 and a beta of 1.58. The stock has a 50 day moving average price of $19.47 and a two-hundred day moving average price of $16.66.

Archrock (NYSE:AROC) last posted its earnings results on Wednesday, May 1st. The energy company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Archrock had a net margin of 12.54% and a return on equity of 15.30%. The company had revenue of $268.49 million during the quarter, compared to analyst estimates of $260.51 million. During the same period in the prior year, the business posted $0.10 earnings per share. Archrock’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts expect that Archrock will post 1.02 earnings per share for the current year.

Archrock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.66 annualized dividend and a dividend yield of 3.27%. Archrock’s dividend payout ratio (DPR) is currently 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.