Archrock (NYSE:AROC) Price Target Raised to $33.00

Archrock (NYSE:AROC) had its price objective upped by Citigroup from $32.00 to $33.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the energy company’s stock.

Separately, JPMorgan Chase & Co. increased their target price on shares of Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Archrock currently has an average rating of “Moderate Buy” and a consensus target price of $26.67.

Archrock Stock Down 0.7 %

AROC stock opened at $26.65 on Tuesday. Archrock has a 12 month low of $17.27 and a 12 month high of $30.44. The firm has a market cap of $4.67 billion, a PE ratio of 29.28, a P/E/G ratio of 1.60 and a beta of 1.56. The firm has a 50 day simple moving average of $27.23 and a 200 day simple moving average of $24.23. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82.

Archrock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from Archrock’s previous quarterly dividend of $0.18. Archrock’s dividend payout ratio is 73.08%.

Institutional Investors Weigh In On Archrock

Several hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System lifted its position in shares of Archrock by 4.8% in the 4th quarter. California State Teachers Retirement System now owns 148,578 shares of the energy company’s stock valued at $3,698,000 after acquiring an additional 6,789 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Archrock by 136.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 40,753 shares of the energy company’s stock worth $1,014,000 after buying an additional 23,486 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in Archrock in the 4th quarter worth approximately $126,000. HWG Holdings LP purchased a new stake in Archrock in the 4th quarter worth approximately $5,003,000. Finally, Mackenzie Financial Corp lifted its position in Archrock by 112.6% in the 4th quarter. Mackenzie Financial Corp now owns 91,250 shares of the energy company’s stock worth $2,271,000 after buying an additional 48,324 shares in the last quarter. Hedge funds and other 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.