Archrock, Inc. (NYSE:AROC) Plans Quarterly Dividend of $0.18

Archrock, Inc. (NYSE:AROC) announced a quarterly dividend on Thursday, October 24th, NASDAQ reports. Stockholders of record on Wednesday, November 6th will be given a dividend of 0.175 per share by the energy company on Wednesday, November 13th. This represents a $0.70 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Wednesday, November 6th. This is an increase from Archrock’s previous quarterly dividend of $0.17.

Archrock has raised its dividend payment by an average of 1.7% annually over the last three years. Archrock has a payout ratio of 48.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Archrock to earn $1.50 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 46.7%.

Archrock Price Performance

Shares of NYSE AROC opened at $20.19 on Tuesday. 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 50 day simple moving average is $20.33 and its 200-day simple moving average is $20.15. Archrock has a 12 month low of $13.15 and a 12 month high of $23.44. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 22.69 and a beta of 1.52.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AROC shares. Stifel Nicolaus lifted their price target 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 research note on Friday, September 6th. They set an “overweight” rating and a $24.00 target price for the company. Evercore ISI assumed coverage on Archrock in a research note on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price objective for the company. Royal Bank of Canada boosted their price target on Archrock from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Mizuho began coverage on shares of Archrock in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Archrock currently has a consensus rating of “Moderate Buy” and an average price target of $24.50.

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.