Royal Bank of Canada Raises Archrock (NYSE:AROC) Price Target to $27.00

Archrock (NYSE:AROC) had its price objective raised by Royal Bank of Canada from $26.00 to $27.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the energy company’s stock.

Several other analysts also recently issued reports on the company. Stifel Nicolaus upped their price objective on Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. began coverage on Archrock in a report on Friday, September 6th. They issued an “overweight” rating and a $24.00 price target for the company. Evercore ISI initiated coverage on shares of Archrock in a report on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price objective on the stock. Mizuho began coverage on shares of Archrock in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 target price for the company. Finally, Citigroup started coverage on shares of Archrock in a research note on Friday, September 27th. They set a “buy” rating and a $24.00 price objective for the company. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Archrock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.67.

Archrock Price Performance

Archrock stock opened at $23.22 on Thursday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.94 and a current ratio of 1.26. Archrock has a one year low of $13.89 and a one year high of $24.71. The company has a market cap of $4.07 billion, a P/E ratio of 25.52 and a beta of 1.52. The business has a fifty day moving average of $20.92 and a two-hundred day moving average of $20.34.

Archrock (NYSE:AROC) last announced its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $292.16 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.20 EPS. As a group, analysts predict that Archrock will post 1.09 earnings per share for the current fiscal year.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.01%. This is a positive change from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, November 6th. Archrock’s dividend payout ratio is presently 76.92%.

Institutional Investors Weigh In On Archrock

Hedge funds and other institutional investors have recently modified their holdings of the stock. Brown Brothers Harriman & Co. acquired a new position in Archrock in the third quarter worth $28,000. Wolff Wiese Magana LLC bought a new position in shares of Archrock in the 3rd quarter worth about $30,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Archrock in the 1st quarter valued at about $43,000. Continuum Advisory LLC grew its position in shares of 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 during the last quarter. Finally, Millburn Ridgefield Corp acquired a new stake in Archrock during the third quarter worth about $50,000. Institutional investors own 95.45% of the company’s stock.

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.