Archrock (NYSE:AROC) Research Coverage Started at Evercore ISI

Evercore ISI started coverage on shares of Archrock (NYSE:AROC) in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $24.00 price objective on the energy company’s stock.

Several other analysts have also recently commented on the stock. 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. StockNews.com downgraded shares of Archrock from a buy rating to a hold rating in a research report on Thursday, June 6th. Stifel Nicolaus boosted their target price on Archrock from $23.00 to $25.00 and gave the stock a buy rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. assumed coverage on Archrock in a research note on Friday, September 6th. They set an overweight rating and a $24.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Archrock currently has an average rating of Moderate Buy and an average target price of $22.33.

Archrock Stock Performance

NYSE AROC opened at $20.39 on Wednesday. The business’s 50-day moving average price is $19.97 and its 200 day moving average price is $19.93. The company has a quick ratio of 0.94, a current ratio of 1.53 and a debt-to-equity ratio of 1.80. The firm has a market cap of $3.19 billion, a P/E ratio of 24.57 and a beta of 1.51. Archrock has a 52-week low of $11.73 and a 52-week high of $23.44.

Archrock (NYSE:AROC) last announced its earnings results on Tuesday, July 30th. The energy company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. Archrock had a return on equity of 16.35% and a net margin of 13.20%. The company had revenue of $270.53 million for the quarter, compared to the consensus estimate of $270.61 million. On average, equities research analysts expect that Archrock will post 1.07 earnings per share for the current year.

Archrock Announces Dividend

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

Hedge Funds Weigh In On Archrock

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new position in shares of Archrock in the second quarter valued at $1,315,000. Point72 Asset Management L.P. acquired a new stake in Archrock in the 2nd quarter valued at about $435,000. Quarry LP purchased a new position in Archrock during the 2nd quarter valued at about $52,000. Creative Planning raised its position in Archrock by 58.3% during the second quarter. Creative Planning now owns 22,998 shares of the energy company’s stock worth $465,000 after acquiring an additional 8,468 shares during the last quarter. Finally, Algert Global LLC lifted its holdings in shares of Archrock by 175.7% in the second quarter. Algert Global LLC now owns 567,240 shares of the energy company’s stock valued at $11,470,000 after purchasing an additional 361,520 shares in the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

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.