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

Archrock, Inc. (NYSE:AROC) has received an average recommendation of “Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $26.67.

Several research analysts have recently issued reports on the company. Citigroup raised their price target on Archrock from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. JPMorgan Chase & Co. raised their target price on Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, November 29th.

Archrock Trading Down 0.5 %

Shares of NYSE AROC opened at $27.18 on Wednesday. The company’s 50 day simple moving average is $27.21 and its 200 day simple moving average is $24.46. 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 has a fifty-two week low of $17.27 and a fifty-two week high of $30.44. The firm has a market capitalization of $4.76 billion, a P/E ratio of 29.87, a P/E/G ratio of 1.60 and a beta of 1.56.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.19 per share. The ex-dividend date was Wednesday, February 12th. This is a positive change from Archrock’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 2.80%. Archrock’s payout ratio is currently 73.08%.

Institutional Investors Weigh In On Archrock

Several large investors have recently modified their holdings of the business. Atria Investments Inc lifted its holdings in shares of Archrock by 17.4% during the 4th quarter. Atria Investments Inc now owns 38,313 shares of the energy company’s stock valued at $954,000 after purchasing an additional 5,665 shares in the last quarter. Barclays PLC lifted its stake in Archrock by 124.2% in 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 in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of 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 during the period. Verition Fund Management LLC bought a new stake in shares of Archrock during the third quarter worth $314,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Archrock in the 3rd quarter valued at $200,000. 95.45% of the stock is currently owned by 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.