Archrock, Inc. (NYSE:AROC) Receives $30.00 Consensus Target Price from Analysts

Archrock, Inc. (NYSE:AROC) has received a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $30.00.

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Archrock in a report on Wednesday, September 3rd. They set an “overweight” rating and a $30.00 price target on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Archrock in a report on Saturday, September 27th. Mizuho boosted their price target on shares of Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Finally, Evercore ISI cut their price target on shares of Archrock from $32.00 to $31.00 and set an “outperform” rating on the stock in a report on Wednesday, August 6th.

Archrock Stock Up 1.2%

AROC stock opened at $24.34 on Friday. Archrock has a 52 week low of $19.73 and a 52 week high of $30.44. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 1.24 and a beta of 1.07. The firm’s 50-day moving average is $24.42 and its two-hundred day moving average is $24.41. The company has a current ratio of 1.81, a quick ratio of 1.30 and a debt-to-equity ratio of 1.86.

Archrock (NYSE:AROC) last released its earnings results on Monday, August 4th. The energy company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Archrock had a net margin of 17.17% and a return on equity of 18.74%. The business had revenue of $383.15 million for the quarter, compared to the consensus estimate of $366.34 million. During the same period in the previous year, the firm earned $0.23 EPS. The business’s revenue for the quarter was up 41.6% on a year-over-year basis. On average, analysts forecast that Archrock will post 1.09 earnings per share for the current fiscal year.

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were paid a $0.21 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $0.84 annualized dividend and a yield of 3.5%. This is a boost from Archrock’s previous quarterly dividend of $0.19. Archrock’s dividend payout ratio (DPR) is currently 63.64%.

Insider Activity at Archrock

In related news, Director Jason C. Rebrook acquired 10,000 shares of the company’s stock in a transaction on Thursday, September 18th. The shares were purchased at an average price of $24.17 per share, for a total transaction of $241,700.00. Following the purchase, the director owned 74,511 shares in the company, valued at $1,800,930.87. This represents a 15.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Eric W. Thode sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $23.54, for a total transaction of $235,400.00. Following the completion of the transaction, the senior vice president owned 224,809 shares in the company, valued at approximately $5,292,003.86. This represents a 4.26% decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Archrock

Several large investors have recently added to or reduced their stakes in the business. Invesco Ltd. grew its position in Archrock by 1.4% in the second quarter. Invesco Ltd. now owns 9,080,037 shares of the energy company’s stock worth $225,457,000 after acquiring an additional 128,141 shares in the last quarter. American Century Companies Inc. grew its position in Archrock by 9.2% in the second quarter. American Century Companies Inc. now owns 5,886,085 shares of the energy company’s stock worth $146,152,000 after acquiring an additional 497,121 shares in the last quarter. Geode Capital Management LLC grew its position in Archrock by 1.0% in the second quarter. Geode Capital Management LLC now owns 4,063,469 shares of the energy company’s stock worth $100,909,000 after acquiring an additional 42,050 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Archrock by 17.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,292,302 shares of the energy company’s stock worth $60,150,000 after acquiring an additional 334,858 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Archrock by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 2,058,502 shares of the energy company’s stock worth $51,113,000 after acquiring an additional 20,048 shares in the last quarter. 95.45% of the stock is owned by 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.