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

Shares of Archrock, Inc. (NYSE:AROC) have received a consensus rating of “Buy” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have issued a report on the stock in the last year is $25.17.

AROC has been the topic of a number of recent analyst reports. Evercore ISI assumed coverage on shares of Archrock in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 target price on the stock. Citigroup began coverage on Archrock in a report on Friday, September 27th. They set a “buy” rating and a $24.00 price objective on the stock. Royal Bank of Canada boosted their target price on 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 research report on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price objective on Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, November 29th.

Hedge Funds Weigh In On Archrock

Several institutional investors have recently bought and sold shares of the company. Kayne Anderson Capital Advisors LP boosted its holdings in shares of Archrock by 1,680.2% in the third quarter. Kayne Anderson Capital Advisors LP now owns 1,530,440 shares of the energy company’s stock valued at $30,976,000 after acquiring an additional 1,444,471 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in Archrock during the 3rd quarter worth approximately $22,108,000. Millennium Management LLC raised its stake in shares of Archrock by 60.3% during the 2nd quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company’s stock worth $47,389,000 after buying an additional 882,024 shares in the last quarter. State Street Corp lifted its holdings in shares of Archrock by 11.5% in the 3rd quarter. State Street Corp now owns 6,836,745 shares of the energy company’s stock valued at $138,376,000 after buying an additional 707,379 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Archrock by 20.5% in the 2nd quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company’s stock valued at $80,036,000 after buying an additional 672,663 shares during the period. 95.45% of the stock is owned by institutional investors and hedge funds.

Archrock Trading Down 2.9 %

NYSE:AROC opened at $25.45 on Monday. Archrock has a 1 year low of $14.23 and a 1 year high of $26.36. The stock has a market cap of $4.46 billion, a P/E ratio of 27.97 and a beta of 1.59. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. The stock has a 50-day simple moving average of $22.51 and a 200-day simple moving average of $20.88.

Archrock (NYSE:AROC) last announced its quarterly earnings results 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 return on equity of 16.24% and a net margin of 13.34%. The firm had revenue of $292.16 million during the quarter, compared to the consensus estimate of $286.19 million. During the same period in the prior year, the company posted $0.20 earnings per share. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, analysts anticipate that Archrock will post 1.09 earnings per share for the current fiscal year.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend was Wednesday, November 6th. This is a boost from Archrock’s previous quarterly dividend of $0.17. Archrock’s dividend payout ratio is 76.92%.

Archrock Company Profile

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.