Archrock (NYSE:AROC) Sets New 12-Month High – Here’s Why

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

Wall Street Analysts Forecast Growth

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

Archrock Trading Up 0.5 %

The company’s 50 day moving average price is $22.92 and its two-hundred day moving average price is $21.03. The firm has a market cap of $4.55 billion, a PE ratio of 28.43 and a beta of 1.59. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73.

Archrock (NYSE:AROC) last announced its quarterly earnings data on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $292.16 million during the quarter, compared to the consensus estimate of $286.19 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 earnings per share. As a group, sell-side analysts forecast that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were paid a $0.175 dividend. This is a positive change from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, November 6th. This represents a $0.70 dividend on an annualized basis and a yield of 2.69%. Archrock’s dividend payout ratio (DPR) is presently 76.92%.

Institutional Investors Weigh In On Archrock

Large investors have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. raised its position in shares of Archrock by 0.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 50,654 shares of the energy company’s stock worth $1,025,000 after acquiring an additional 427 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Archrock by 5.9% in the third quarter. Franklin Resources Inc. now owns 94,756 shares of the energy company’s stock worth $2,020,000 after buying an additional 5,295 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of 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 period. Barclays PLC grew its holdings in shares of Archrock by 124.2% during the third quarter. Barclays PLC now owns 302,610 shares of the energy company’s stock valued at $6,125,000 after buying an additional 167,648 shares during the last quarter. Finally, Continuum Advisory LLC increased its position in shares of Archrock by 5,621.6% in the 3rd 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. 95.45% of the stock is owned by hedge funds and other institutional investors.

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.