Archrock, Inc. (NYSE:AROC) Given Average Rating of “Buy” by Brokerages

Shares of Archrock, Inc. (NYSE:AROC) have earned an average recommendation of “Buy” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $25.17.

A number of equities research analysts have commented on AROC shares. Royal Bank of Canada increased their price target on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. increased their price target on shares of Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, November 29th.

Institutional Investors Weigh In On Archrock

Hedge funds have recently bought and sold shares of the stock. Barclays PLC lifted its stake in shares of Archrock by 124.2% in the 3rd quarter. Barclays PLC now owns 302,610 shares of the energy company’s stock valued at $6,125,000 after purchasing an additional 167,648 shares during the period. JPMorgan Chase & Co. increased its holdings in Archrock by 94.5% in the third quarter. JPMorgan Chase & Co. now owns 422,383 shares of the energy company’s stock valued at $8,549,000 after buying an additional 205,241 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of Archrock in the third quarter worth about $314,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Archrock during the 3rd quarter worth about $200,000. Finally, HITE Hedge Asset Management LLC purchased a new stake in shares of Archrock during the 3rd quarter worth about $10,939,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Archrock Stock Performance

Shares of AROC opened at $26.42 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. The firm has a market cap of $4.63 billion, a PE ratio of 29.03, a P/E/G ratio of 1.71 and a beta of 1.57. Archrock has a 12 month low of $17.26 and a 12 month high of $30.44. The stock has a fifty day moving average price of $27.11 and a 200-day moving average price of $23.44.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th were given a dividend of $0.19 per share. This is a boost from Archrock’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Wednesday, February 12th. Archrock’s dividend payout ratio (DPR) is currently 83.52%.

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.