Archrock (NYSE:AROC) Price Target Increased to $26.00 by Analysts at Royal Bank of Canada

Archrock (NYSE:AROC) had its target price lifted by Royal Bank of Canada from $22.00 to $26.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the energy company’s stock.

A number of other research firms have also issued reports on AROC. Stifel Nicolaus boosted their price objective on Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. initiated coverage on shares of Archrock in a report on Friday, September 6th. They issued an “overweight” rating and a $24.00 price target on the stock. Citigroup assumed coverage on shares of Archrock in a research note on Friday, September 27th. They set a “buy” rating and a $24.00 price objective for the company. Mizuho initiated coverage on shares of Archrock in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price target for the company. Finally, Evercore ISI assumed coverage on shares of Archrock in a report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price target on the stock. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Archrock has a consensus rating of “Moderate Buy” and an average target price of $23.14.

Archrock Trading Up 2.1 %

Shares of Archrock stock opened at $21.46 on Wednesday. The stock has a market capitalization of $3.35 billion, a P/E ratio of 25.86 and a beta of 1.51. Archrock has a 52-week low of $12.41 and a 52-week high of $23.44. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.94 and a current ratio of 1.53. The stock’s 50-day simple moving average is $20.07 and its 200 day simple moving average is $20.14.

Archrock (NYSE:AROC) last posted its quarterly earnings results on Tuesday, July 30th. The energy company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. The company had revenue of $270.53 million for the quarter, compared to analyst estimates of $270.61 million. Archrock had a net margin of 13.20% and a return on equity of 16.35%. As a group, research analysts anticipate that Archrock will post 1.07 EPS for the current year.

Archrock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Tuesday, August 6th. Archrock’s dividend payout ratio (DPR) is currently 79.52%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AROC. Seven Grand Managers LLC bought a new stake in Archrock during the third quarter worth about $2,024,000. Wolff Wiese Magana LLC purchased a new position in shares of Archrock during the 3rd quarter valued at about $30,000. Creative Planning lifted its position in Archrock by 18.7% in the 3rd quarter. Creative Planning now owns 27,299 shares of the energy company’s stock worth $553,000 after buying an additional 4,301 shares during the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in Archrock in the third quarter worth approximately $370,000. Finally, Exchange Traded Concepts LLC grew its position in Archrock by 38.7% during the third quarter. Exchange Traded Concepts LLC now owns 353,341 shares of the energy company’s stock valued at $7,152,000 after acquiring an additional 98,560 shares during the last quarter. 95.45% of the stock is currently 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.