Evercore ISI Initiates Coverage on Archrock (NYSE:AROC)

Evercore ISI initiated coverage on shares of Archrock (NYSE:AROC) in a research report report published on Wednesday morning, MarketBeat.com reports. The firm issued an outperform rating and a $24.00 target price on the energy company’s stock.

A number of other equities analysts also recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on Archrock in a research note on Friday, September 6th. They issued an overweight rating and a $24.00 price target on the stock. StockNews.com downgraded shares of Archrock from a buy rating to a hold rating in a report on Thursday, June 6th. Royal Bank of Canada reaffirmed an outperform rating and set a $22.00 target price on shares of Archrock in a report on Wednesday, August 7th. Finally, Stifel Nicolaus lifted their price target on shares of Archrock from $23.00 to $25.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $22.33.

Archrock Price Performance

NYSE AROC opened at $20.39 on Wednesday. Archrock has a one year low of $11.73 and a one year high of $23.44. The stock has a 50-day moving average of $19.92 and a 200 day moving average of $19.95. 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 company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 24.57 and a beta of 1.51.

Archrock (NYSE:AROC) last announced its quarterly earnings results on Tuesday, July 30th. The energy company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $270.53 million during 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%. On average, sell-side analysts forecast that Archrock will post 1.07 EPS for the current year.

Archrock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were given a $0.165 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.24%. Archrock’s payout ratio is currently 79.52%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in Archrock in the 1st quarter worth approximately $43,000. Quarry LP purchased a new position in Archrock during the second quarter valued at $52,000. CWM LLC increased its holdings in Archrock by 382.0% in the 2nd quarter. CWM LLC now owns 3,591 shares of the energy company’s stock valued at $73,000 after acquiring an additional 2,846 shares during the last quarter. GAMMA Investing LLC lifted its stake in Archrock by 16.6% in the 2nd quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock worth $82,000 after purchasing an additional 578 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Archrock during the 2nd quarter valued at about $101,000. Institutional investors own 95.45% of the company’s stock.

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.