JPMorgan Chase & Co. Begins Coverage on Archrock (NYSE:AROC)

JPMorgan Chase & Co. began coverage on shares of Archrock (NYSE:AROC) in a research note released on Friday, Marketbeat Ratings reports. The firm issued an overweight rating and a $24.00 target price on the energy company’s stock.

A number of other equities analysts also recently commented on AROC. Royal Bank of Canada restated an outperform rating and issued a $22.00 target price on shares of Archrock in a research note on Wednesday, August 7th. Stifel Nicolaus boosted their price target on shares of Archrock from $23.00 to $25.00 and gave the company a buy rating in a report on Wednesday, July 24th. Finally, StockNews.com lowered shares of Archrock from a buy rating to a hold rating in a research note on Thursday, June 6th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $21.50.

Archrock Stock Performance

Archrock stock opened at $19.17 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.53 and a quick ratio of 0.94. The firm’s fifty day moving average price is $20.35 and its 200 day moving average price is $19.75. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 23.06 and a beta of 1.51. Archrock has a 12-month low of $11.73 and a 12-month high of $23.44.

Archrock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were issued 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 3.44%. Archrock’s payout ratio is currently 79.52%.

Institutional Investors Weigh In On Archrock

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. USA Financial Formulas lifted its position in shares of Archrock by 4,483.8% during the 4th quarter. USA Financial Formulas now owns 1,696 shares of the energy company’s stock worth $26,000 after purchasing an additional 1,659 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Archrock during the 1st quarter worth approximately $43,000. Quarry LP bought a new stake in shares of Archrock during the second quarter valued at approximately $52,000. CWM LLC raised its stake in shares of Archrock by 382.0% in the second quarter. CWM LLC now owns 3,591 shares of the energy company’s stock valued at $73,000 after purchasing an additional 2,846 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Archrock by 16.6% in the second quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock worth $82,000 after purchasing an additional 578 shares during the period. 95.45% of the stock is owned by hedge funds and other 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.