Archrock (NYSE:AROC) Price Target Raised to $32.00

Archrock (NYSE:AROC) had its price objective lifted by Royal Bank Of Canada from $31.00 to $32.00 in a research report sent to investors on Thursday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the energy company’s stock.

A number of other research analysts have also recently weighed in on AROC. Wells Fargo & Company assumed coverage on Archrock in a research report on Wednesday, September 3rd. They set an “overweight” rating and a $30.00 price objective on the stock. Evercore ISI lowered their price objective on Archrock from $32.00 to $31.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Archrock in a research report on Wednesday, October 8th. Mizuho lifted their price objective on Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Finally, Zacks Research raised Archrock from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $31.50.

Archrock Trading Down 0.5%

Shares of NYSE:AROC opened at $25.28 on Thursday. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 1.29 and a beta of 1.07. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.30 and a current ratio of 1.81. The stock’s 50-day simple moving average is $24.88 and its two-hundred day simple moving average is $24.47. Archrock has a 52-week low of $19.73 and a 52-week high of $30.44.

Archrock (NYSE:AROC) last announced its earnings results on Tuesday, October 28th. The energy company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.01. The business had revenue of $382.43 million for the quarter, compared to analysts’ expectations of $379.29 million. Archrock had a return on equity of 20.40% and a net margin of 18.43%.The business’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same period last year, the firm posted $0.28 earnings per share. Analysts expect that Archrock will post 1.09 EPS for the current year.

Archrock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Tuesday, November 4th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 3.3%. Archrock’s payout ratio is currently 56.00%.

Insider Buying and Selling

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

Institutional Trading of Archrock

A number of large investors have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd increased its stake in Archrock by 76.2% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 54,707 shares of the energy company’s stock worth $1,439,000 after acquiring an additional 23,655 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in Archrock by 1.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 38,260 shares of the energy company’s stock worth $982,000 after acquiring an additional 708 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in Archrock in the 3rd quarter worth approximately $222,000. Evergreen Capital Management LLC increased its stake in Archrock by 27.8% in the 3rd quarter. Evergreen Capital Management LLC now owns 12,662 shares of the energy company’s stock worth $333,000 after acquiring an additional 2,755 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV increased its stake in Archrock by 10.9% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 18,329 shares of the energy company’s stock worth $482,000 after acquiring an additional 1,799 shares during the last quarter. 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.