Archrock, Inc. (NYSE:AROC) Short Interest Update

Archrock, Inc. (NYSE:AROC) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 5,570,000 shares, a drop of 7.5% from the November 15th total of 6,020,000 shares. Approximately 3.8% of the shares of the company are short sold. Based on an average daily trading volume, of 1,290,000 shares, the short-interest ratio is presently 4.3 days.

Archrock Price Performance

AROC traded up $0.21 during trading on Monday, reaching $26.20. 966,242 shares of the company traded hands, compared to its average volume of 1,423,615. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. Archrock has a 12-month low of $14.39 and a 12-month high of $27.05. The firm has a fifty day simple moving average of $23.00 and a 200 day simple moving average of $21.10. The company has a market cap of $4.59 billion, a P/E ratio of 28.79 and a beta of 1.59.

Archrock (NYSE:AROC) last posted its earnings results on Monday, November 11th. The energy company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $292.16 million during 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 company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.20 EPS. On average, equities analysts forecast that Archrock will post 1.09 EPS for the current year.

Archrock Increases Dividend

The company 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. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.70 annualized dividend and a dividend yield of 2.67%. This is a positive change from Archrock’s previous quarterly dividend of $0.17. Archrock’s dividend payout ratio (DPR) is currently 76.92%.

Hedge Funds Weigh In On Archrock

Institutional investors have recently made changes to their positions in the company. CWM LLC boosted its holdings in Archrock by 382.0% in the second quarter. CWM LLC now owns 3,591 shares of the energy company’s stock worth $73,000 after acquiring an additional 2,846 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Archrock by 6.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,373 shares of the energy company’s stock valued at $230,000 after buying an additional 713 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Archrock during the second quarter worth approximately $213,000. Raymond James & Associates increased its position in shares of Archrock by 10.7% during the second quarter. Raymond James & Associates now owns 137,212 shares of the energy company’s stock worth $2,774,000 after purchasing an additional 13,274 shares in the last quarter. Finally, &PARTNERS grew its holdings in Archrock by 87.1% in the 2nd quarter. &PARTNERS now owns 24,130 shares of the energy company’s stock valued at $488,000 after buying an additional 11,234 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AROC shares. Mizuho started coverage on shares of Archrock in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price objective for the company. Citigroup began coverage on shares of Archrock in a research report on Friday, September 27th. They set a “buy” rating and a $24.00 target price for the company. Royal Bank of Canada boosted their price objective on shares of Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Evercore ISI began coverage on shares of Archrock in a report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.17.

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.