Archrock, Inc. (NYSE:AROC) Receives Average Rating of “Buy” from Brokerages

Shares of Archrock, Inc. (NYSE:AROC) have earned an average recommendation of “Buy” from the six research firms that are covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $25.17.

A number of research analysts have issued reports on AROC shares. Royal Bank of Canada lifted their price objective on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. lifted their price objective on Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, November 29th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AROC. Raymond James Financial Inc. purchased a new position in shares of Archrock in the fourth quarter worth $36,241,000. Kayne Anderson Capital Advisors LP grew its holdings in shares of Archrock by 1,680.2% in the third quarter. Kayne Anderson Capital Advisors LP now owns 1,530,440 shares of the energy company’s stock worth $30,976,000 after acquiring an additional 1,444,471 shares during the period. Eagle Asset Management Inc. bought a new stake in shares of Archrock in the third quarter worth $22,108,000. Invesco Ltd. grew its holdings in shares of Archrock by 12.8% in the fourth quarter. Invesco Ltd. now owns 8,883,949 shares of the energy company’s stock worth $221,121,000 after acquiring an additional 1,008,438 shares during the period. Finally, State Street Corp grew its holdings in shares of Archrock by 11.5% in the third quarter. State Street Corp now owns 6,836,745 shares of the energy company’s stock worth $138,376,000 after acquiring an additional 707,379 shares during the period. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Archrock Stock Up 1.9 %

Shares of NYSE:AROC opened at $27.12 on Friday. The stock has a fifty day simple moving average of $27.23 and a two-hundred day simple moving average of $23.66. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 29.80, a PEG ratio of 1.60 and a beta of 1.57. Archrock has a 12-month low of $17.26 and a 12-month high of $30.44. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th were paid a $0.19 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.76 annualized dividend and a dividend yield of 2.80%. This is a boost from Archrock’s previous quarterly dividend of $0.18. Archrock’s payout ratio is currently 73.08%.

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.