Archrock (NYSE:AROC) Trading 6.4% Higher – Still a Buy?

Archrock, Inc. (NYSE:AROC)’s stock price rose 6.4% on Tuesday . The company traded as high as $24.16 and last traded at $24.17. Approximately 752,248 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 1,383,906 shares. The stock had previously closed at $22.72.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Royal Bank of Canada lifted their target price on Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. lifted their price objective on Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.17.

Archrock Trading Down 1.5 %

The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. The company has a market cap of $4.22 billion, a P/E ratio of 26.47, a P/E/G ratio of 1.60 and a beta of 1.56. The business has a fifty day simple moving average of $27.22 and a 200 day simple moving average of $24.02.

Archrock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date was Wednesday, February 12th. This is an increase from Archrock’s previous quarterly dividend of $0.18. Archrock’s payout ratio is currently 73.08%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in Archrock during the fourth quarter worth about $36,241,000. Kayne Anderson Capital Advisors LP raised its position in shares of Archrock by 1,680.2% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 1,530,440 shares of the energy company’s stock worth $30,976,000 after purchasing an additional 1,444,471 shares during the period. Eagle Asset Management Inc. bought a new stake in shares of Archrock in the 3rd quarter worth approximately $22,108,000. Invesco Ltd. boosted its position in Archrock by 12.8% during the 4th quarter. Invesco Ltd. now owns 8,883,949 shares of the energy company’s stock valued at $221,121,000 after purchasing an additional 1,008,438 shares during the period. Finally, State Street Corp grew its stake in Archrock by 11.5% during the 3rd quarter. State Street Corp now owns 6,836,745 shares of the energy company’s stock worth $138,376,000 after buying an additional 707,379 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors.

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.