Mizuho Initiates Coverage on Archrock (NYSE:AROC)

Mizuho initiated coverage on shares of Archrock (NYSE:AROC) in a report published on Wednesday, MarketBeat reports. The firm issued an outperform rating and a $24.00 price target on the energy company’s stock.

Several other equities analysts have also weighed in on the stock. Evercore ISI assumed coverage on shares of Archrock in a research report on Wednesday, September 25th. They set an outperform rating and a $24.00 price objective for the company. StockNews.com lowered shares of Archrock from a buy rating to a hold rating in a research report on Thursday, June 6th. Royal Bank of Canada reiterated an outperform rating and set a $22.00 price objective on shares of Archrock in a research report on Wednesday, August 7th. Stifel Nicolaus lifted their target price on Archrock from $23.00 to $25.00 and gave the stock a buy rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. initiated coverage on Archrock in a report on Friday, September 6th. They set an overweight rating and a $24.00 target price for the company. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $22.57.

Archrock Price Performance

NYSE AROC opened at $21.81 on Wednesday. Archrock has a 12 month low of $11.73 and a 12 month high of $23.44. The firm has a market capitalization of $3.41 billion, a PE ratio of 26.28 and a beta of 1.51. The company’s 50 day simple moving average is $19.81 and its 200 day simple moving average is $20.04. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.53 and a quick ratio of 0.94.

Archrock (NYSE:AROC) last posted its quarterly earnings data on Tuesday, July 30th. The energy company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $270.53 million for the quarter, compared to the consensus estimate of $270.61 million. Archrock had a return on equity of 16.35% and a net margin of 13.20%. As a group, equities research analysts forecast that Archrock will post 1.07 EPS for the current fiscal year.

Archrock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Tuesday, August 6th. Archrock’s dividend payout ratio (DPR) is 79.52%.

Institutional Investors Weigh In On Archrock

A number of institutional investors have recently modified their holdings of the stock. Blackstone Inc. raised its holdings in Archrock by 4,211.9% in the 4th quarter. Blackstone Inc. now owns 5,903,142 shares of the energy company’s stock worth $90,908,000 after acquiring an additional 5,766,237 shares during the period. Sei Investments Co. grew its stake in shares of Archrock by 37.7% during the fourth quarter. Sei Investments Co. now owns 5,113,865 shares of the energy company’s stock valued at $78,753,000 after purchasing an additional 1,399,309 shares during the last quarter. Boston Partners acquired a new stake in shares of Archrock in the first quarter valued at approximately $24,875,000. Millennium Management LLC raised its position in Archrock by 60.3% in the 2nd quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company’s stock worth $47,389,000 after purchasing an additional 882,024 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Archrock by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company’s stock worth $360,385,000 after purchasing an additional 849,750 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

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.