Stifel Nicolaus Boosts Archrock (NYSE:AROC) Price Target to $23.00

Archrock (NYSE:AROC) had its price target raised by Stifel Nicolaus from $20.00 to $23.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a buy rating on the energy company’s stock.

Separately, Royal Bank of Canada upped their target price on Archrock from $20.00 to $21.00 and gave the stock an outperform rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $19.67.

Archrock Stock Performance

AROC stock opened at $20.21 on Thursday. The firm has a 50 day simple moving average of $19.38 and a 200 day simple moving average of $16.54. Archrock has a 52 week low of $8.92 and a 52 week high of $21.40. The stock has a market cap of $3.16 billion, a P/E ratio of 24.35, a P/E/G ratio of 2.82 and a beta of 1.58. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.86 and a current ratio of 1.26.

Archrock (NYSE:AROC) last issued its earnings results on Wednesday, May 1st. The energy company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. Archrock had a net margin of 12.54% and a return on equity of 15.30%. The company had revenue of $268.49 million during the quarter, compared to analyst estimates of $260.51 million. During the same quarter last year, the business posted $0.10 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Research analysts anticipate that Archrock will post 1.02 earnings per share for the current fiscal year.

Archrock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.27%. Archrock’s dividend payout ratio (DPR) is presently 79.52%.

Hedge Funds Weigh In On Archrock

Several large investors have recently bought and sold shares of AROC. Janney Montgomery Scott LLC increased its holdings in shares of Archrock by 9.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,065 shares of the energy company’s stock worth $257,000 after purchasing an additional 1,079 shares during the period. Arizona State Retirement System grew its position in Archrock by 3.5% during the fourth quarter. Arizona State Retirement System now owns 41,562 shares of the energy company’s stock worth $640,000 after buying an additional 1,408 shares in the last quarter. Yousif Capital Management LLC increased its stake in Archrock by 2.3% during the fourth quarter. Yousif Capital Management LLC now owns 69,907 shares of the energy company’s stock valued at $1,077,000 after acquiring an additional 1,582 shares during the period. Van ECK Associates Corp raised its holdings in Archrock by 6.1% in the 4th quarter. Van ECK Associates Corp now owns 28,113 shares of the energy company’s stock valued at $433,000 after acquiring an additional 1,624 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Archrock by 10.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 17,633 shares of the energy company’s stock valued at $222,000 after acquiring an additional 1,650 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

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.