Archrock (NYSE:AROC) Reaches New 52-Week High – Should You Buy?

Shares of Archrock, Inc. (NYSE:AROC) reached a new 52-week high during trading on Monday . The stock traded as high as $23.59 and last traded at $23.34, with a volume of 205068 shares changing hands. The stock had previously closed at $22.62.

Analysts Set New Price Targets

Several analysts have weighed in on AROC shares. Citigroup initiated coverage on shares of Archrock in a research note on Friday, September 27th. They issued a “buy” rating and a $24.00 price target for the company. Evercore ISI assumed coverage on Archrock in a report on Wednesday, September 25th. They set an “outperform” rating and a $24.00 target price for the company. Royal Bank of Canada lifted their price target on Archrock from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Mizuho began coverage on Archrock in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price objective for the company. Finally, JPMorgan Chase & Co. started coverage on shares of Archrock in a report on Friday, September 6th. They issued an “overweight” rating and a $24.00 target price on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.50.

Archrock Stock Up 3.7 %

The company’s fifty day simple moving average is $20.50 and its 200 day simple moving average is $20.22. The company has a current ratio of 1.53, a quick ratio of 0.94 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $3.96 billion, a P/E ratio of 25.42 and a beta of 1.52.

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th will be issued a $0.175 dividend. The ex-dividend date is Wednesday, November 6th. This is a positive change from Archrock’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a yield of 2.98%. Archrock’s dividend payout ratio (DPR) is 78.65%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AROC. Wolff Wiese Magana LLC bought a new stake in Archrock during the third quarter worth about $30,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Archrock in the 1st quarter worth approximately $43,000. Quarry LP purchased a new stake in shares of Archrock in the 2nd quarter worth approximately $52,000. CWM LLC increased its position in Archrock by 382.0% during the 2nd quarter. CWM LLC now owns 3,591 shares of the energy company’s stock valued at $73,000 after buying an additional 2,846 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Archrock by 16.6% during the 2nd quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock valued at $82,000 after buying an additional 578 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

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.