Citigroup Issues Positive Forecast for Archrock (NYSE:AROC) Stock Price

Archrock (NYSE:AROC) had its price target raised by Citigroup from $32.00 to $33.00 in a report published on Tuesday,Benzinga reports. They currently have a buy rating on the energy company’s stock.

Separately, JPMorgan Chase & Co. lifted their target price on Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.67.

Archrock Price Performance

Shares of AROC opened at $25.70 on Tuesday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82. Archrock has a 1 year low of $17.27 and a 1 year high of $30.44. The business has a 50-day moving average of $27.17 and a 200-day moving average of $24.19. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 28.24, a price-to-earnings-growth ratio of 1.60 and a beta of 1.56.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th were given a $0.19 dividend. This is a boost from Archrock’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, February 12th. This represents a $0.76 annualized dividend and a yield of 2.96%. Archrock’s dividend payout ratio (DPR) is presently 73.08%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Brown Brothers Harriman & Co. bought a new position in shares of Archrock during the third quarter valued at about $28,000. Wolverine Asset Management LLC boosted its holdings in shares of Archrock by 111.8% in the fourth quarter. Wolverine Asset Management LLC now owns 1,504 shares of the energy company’s stock worth $37,000 after acquiring an additional 14,200 shares during the period. Continuum Advisory LLC grew its holdings in Archrock by 5,621.6% during the 3rd quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company’s stock valued at $43,000 after buying an additional 2,080 shares in the last quarter. Millburn Ridgefield Corp purchased a new position in Archrock during the third quarter valued at approximately $50,000. Finally, Montag A & Associates Inc. bought a new position in shares of Archrock in the fourth quarter worth $55,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

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.