Archrock (NYSE:AROC) Price Target Raised to $35.00

Archrock (NYSE:AROC) had its price target lifted by Evercore ISI from $31.00 to $35.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the energy company’s stock.

AROC has been the topic of a number of other reports. Wells Fargo & Company assumed coverage on Archrock in a report on Wednesday, September 3rd. They issued an “overweight” rating and a $30.00 price objective on the stock. Mizuho increased their price objective on Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Royal Bank Of Canada increased their price objective on Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of Archrock in a report on Wednesday, October 8th. Finally, Zacks Research raised Archrock from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Archrock currently has a consensus rating of “Buy” and an average target price of $31.50.

Archrock Stock Down 0.5%

Shares of AROC stock opened at $25.28 on Thursday. The stock’s 50-day simple moving average is $24.88 and its 200-day simple moving average is $24.47. 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 firm has a market capitalization of $4.44 billion, a PE ratio of 16.85, a P/E/G ratio of 1.29 and a beta of 1.07. Archrock has a fifty-two week low of $19.73 and a fifty-two week high of $30.44.

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

Archrock Dividend Announcement

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

Insider Transactions at Archrock

In other news, SVP Eric W. Thode sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $23.54, for a total value of $235,400.00. Following the sale, the senior vice president owned 224,809 shares in the company, valued at $5,292,003.86. This represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jason C. Rebrook bought 5,000 shares of the stock in a transaction dated Monday, September 22nd. The stock was bought at an average price of $23.94 per share, for a total transaction of $119,700.00. Following the purchase, the director directly owned 79,511 shares of the company’s stock, valued at approximately $1,903,493.34. The trade was a 6.71% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Archrock

A number of hedge funds have recently bought and sold shares of AROC. GAMMA Investing LLC boosted its position in Archrock by 26.7% during the first quarter. GAMMA Investing LLC now owns 9,098 shares of the energy company’s stock worth $239,000 after purchasing an additional 1,917 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Archrock by 4.7% during the first quarter. Janney Montgomery Scott LLC now owns 12,761 shares of the energy company’s stock worth $335,000 after purchasing an additional 574 shares in the last quarter. Bessemer Group Inc. boosted its position in Archrock by 12.9% during the first quarter. Bessemer Group Inc. now owns 10,371 shares of the energy company’s stock worth $272,000 after purchasing an additional 1,188 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Archrock by 53.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 27,402 shares of the energy company’s stock worth $725,000 after purchasing an additional 9,594 shares in the last quarter. Finally, KBC Group NV boosted its position in Archrock by 13.2% during the first quarter. KBC Group NV now owns 8,030 shares of the energy company’s stock worth $211,000 after purchasing an additional 937 shares in the last quarter. Hedge funds and other 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.