Archrock (NYSE:AROC) Sets New 52-Week High – What’s Next?

Archrock, Inc. (NYSE:AROC)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $26.44 and last traded at $26.44, with a volume of 224842 shares. The stock had previously closed at $25.69.

Analyst Ratings Changes

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

Archrock Stock Performance

The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. The stock’s fifty day moving average is $22.71 and its two-hundred day moving average is $20.96. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 28.23 and a beta of 1.59.

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 firm had revenue of $292.16 million during the quarter, compared to analyst estimates of $286.19 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. Archrock’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.20 EPS. On average, analysts expect that Archrock, Inc. will post 1.09 earnings per share for the current fiscal year.

Archrock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were paid a dividend of $0.175 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.70 annualized dividend and a yield of 2.62%. This is a boost from Archrock’s previous quarterly dividend of $0.17. Archrock’s dividend payout ratio (DPR) is currently 76.92%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AROC. Brown Brothers Harriman & Co. acquired a new position in shares of Archrock in the 3rd quarter worth $28,000. Wolff Wiese Magana LLC acquired a new position in shares of Archrock in the third quarter worth about $30,000. Continuum Advisory LLC raised its holdings in shares of Archrock by 5,621.6% during the third quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company’s stock valued at $43,000 after acquiring an additional 2,080 shares during the period. Millburn Ridgefield Corp purchased a new stake in shares of Archrock in the 3rd quarter valued at approximately $50,000. Finally, Quarry LP acquired a new position in Archrock in the 2nd quarter worth approximately $52,000. 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.