Archrock (NYSE:AROC) Reaches New 12-Month High – What’s Next?

Archrock, Inc. (NYSE:AROC) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $27.91 and last traded at $27.80, with a volume of 129021 shares. The stock had previously closed at $26.95.

Wall Street Analysts Forecast Growth

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

Archrock Stock Performance

The stock’s 50 day moving average is $24.88 and its two-hundred day moving average is $21.97. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 30.52 and a beta of 1.58. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73.

Archrock (NYSE:AROC) last announced its earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Archrock’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 EPS. Analysts expect that Archrock, Inc. will post 1.09 earnings per share for the current fiscal year.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 2.52%. This is an increase from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, November 6th. Archrock’s dividend payout ratio (DPR) is currently 76.92%.

Institutional Trading of Archrock

Large investors have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Archrock by 11.5% in the 3rd quarter. State Street Corp now owns 6,836,745 shares of the energy company’s stock valued at $138,376,000 after purchasing an additional 707,379 shares during the period. Geode Capital Management LLC increased its position in Archrock by 16.0% during the third quarter. Geode Capital Management LLC now owns 3,794,981 shares of the energy company’s stock worth $76,826,000 after buying an additional 523,825 shares during the last quarter. Millennium Management LLC raised its stake in Archrock by 60.3% in the second quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company’s stock valued at $47,389,000 after buying an additional 882,024 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Archrock by 13.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,323,820 shares of the energy company’s stock valued at $47,034,000 after buying an additional 274,763 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its stake in shares of Archrock by 1,680.2% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 1,530,440 shares of the energy company’s stock worth $30,976,000 after acquiring an additional 1,444,471 shares during the period. Institutional investors and hedge funds 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.