Shares of Archrock, Inc. (NYSE:AROC – Get Free Report) have earned an average recommendation of “Moderate Buy” from the ten analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $42.2857.
AROC has been the subject of several research analyst reports. Mizuho raised their target price on shares of Archrock from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Wells Fargo & Company decreased their price target on shares of Archrock from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, August 6th. Zacks Research downgraded shares of Archrock from a “hold” rating to a “strong sell” rating in a report on Monday, August 31st. Evercore set a $40.00 price objective on Archrock in a research report on Monday, August 17th. Finally, Weiss Ratings cut Archrock from a “buy (a-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th.
Get Our Latest Research Report on AROC
Archrock Trading Down 0.9%
Archrock (NYSE:AROC – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.07). Archrock had a net margin of 21.84% and a return on equity of 22.22%. The company had revenue of $371.24 million for the quarter, compared to the consensus estimate of $393.19 million. During the same quarter in the previous year, the business earned $0.39 EPS. The company’s quarterly revenue was down 3.1% on a year-over-year basis. Research analysts anticipate that Archrock will post 1.73 EPS for the current fiscal year.
Archrock Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, August 4th were issued a $0.23 dividend. This is a boost from Archrock’s previous quarterly dividend of $0.22. The ex-dividend date was Tuesday, August 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.0%. Archrock’s payout ratio is presently 49.46%.
Hedge Funds Weigh In On Archrock
A number of institutional investors and hedge funds have recently modified their holdings of AROC. Sequoia Financial Advisors LLC bought a new stake in Archrock in the second quarter worth $234,000. Tidal Investments LLC grew its holdings in shares of Archrock by 102.4% in the second quarter. Tidal Investments LLC now owns 16,433 shares of the energy company’s stock worth $669,000 after purchasing an additional 8,314 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in Archrock in the 2nd quarter worth about $130,000. Cypress Capital Management LLC WY purchased a new position in Archrock in the 2nd quarter worth about $156,000. Finally, Nykredit A S bought a new stake in Archrock during the 2nd quarter valued at about $295,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.
About Archrock
Archrock, Inc (NYSE: AROC) is a Houston-based energy infrastructure company that provides natural gas compression services in the United States. Compression is used to increase the pressure of natural gas so it can be gathered, processed, transported, stored and delivered through pipeline systems. Archrock serves customers across major U.S. natural gas production and pipeline regions.
The company primarily operates through contract compression services, supplying compression equipment and related field services under customer agreements.
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