Archrock, Inc. (NYSE:AROC) Short Interest Update

Archrock, Inc. (NYSE:AROC) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 6,020,000 shares, a growth of 8.7% from the October 31st total of 5,540,000 shares. Based on an average daily trading volume, of 1,250,000 shares, the short-interest ratio is presently 4.8 days. Currently, 4.1% of the shares of the stock are short sold.

Archrock Trading Down 1.0 %

NYSE AROC traded down $0.26 during trading hours on Wednesday, hitting $25.66. 510,582 shares of the company were exchanged, compared to its average volume of 1,421,507. The stock has a market cap of $4.49 billion, a PE ratio of 28.48 and a beta of 1.59. Archrock has a 52 week low of $14.14 and a 52 week high of $26.36. The stock has a 50-day moving average price of $22.19 and a 200 day moving average price of $20.77. 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 issued its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The company had revenue of $292.16 million for the quarter, compared to the consensus estimate of $286.19 million. During the same period in the prior year, the firm posted $0.20 EPS. The firm’s revenue was up 15.3% compared to the same quarter last year. Analysts forecast that Archrock will post 1.09 earnings per share for the current fiscal year.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were issued a $0.175 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This is a boost from Archrock’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.73%. Archrock’s dividend payout ratio is presently 76.92%.

Institutional Investors Weigh In On Archrock

Several large investors have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of Archrock by 11.5% during the third quarter. State Street Corp now owns 6,836,745 shares of the energy company’s stock valued at $138,376,000 after acquiring an additional 707,379 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Archrock by 20.5% during the second quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company’s stock valued at $80,036,000 after buying an additional 672,663 shares during the period. Geode Capital Management LLC raised its holdings in shares of Archrock by 16.0% in the third quarter. Geode Capital Management LLC now owns 3,794,981 shares of the energy company’s stock valued at $76,826,000 after acquiring an additional 523,825 shares in the last quarter. Millennium Management LLC lifted its stake in Archrock by 60.3% in the second quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company’s stock worth $47,389,000 after acquiring an additional 882,024 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Archrock by 13.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,323,820 shares of the energy company’s stock worth $47,034,000 after acquiring an additional 274,763 shares in the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. 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 on the stock. Mizuho began coverage on shares of Archrock in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price target on the stock. Royal Bank of Canada raised their price objective on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. boosted their target price on Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. Finally, Citigroup began coverage on Archrock in a report on Friday, September 27th. They set a “buy” rating and a $24.00 price target for the company. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.17.

Archrock Company Profile

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.