Archrock (NYSE:AROC) Price Target Raised to $27.00 at Royal Bank of Canada

Archrock (NYSE:AROC) had its target price lifted by Royal Bank of Canada from $26.00 to $27.00 in a research report sent to investors on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the energy company’s stock.

A number of other equities analysts have also recently commented on the company. Evercore ISI initiated coverage on Archrock in a report on Wednesday, September 25th. They set an “outperform” rating and a $24.00 target price for the company. Stifel Nicolaus lifted their target price on shares of Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. started coverage on shares of Archrock in a research report on Friday, September 6th. They issued an “overweight” rating and a $24.00 target price for the company. Mizuho began coverage on shares of Archrock in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price target on the stock. Finally, Citigroup assumed coverage on shares of Archrock in a report on Friday, September 27th. They issued a “buy” rating and a $24.00 price objective for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.67.

Archrock Price Performance

Shares of NYSE AROC opened at $23.22 on Thursday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.94 and a current ratio of 1.26. The firm has a market cap of $4.07 billion, a PE ratio of 25.52 and a beta of 1.52. Archrock has a one year low of $13.89 and a one year high of $24.71. The firm has a fifty day moving average of $20.92 and a 200 day moving average of $20.34.

Archrock (NYSE:AROC) last released its earnings results on Monday, November 11th. The energy company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $292.16 million during the quarter, compared to analysts’ expectations of $286.19 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The company’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.20 earnings per share. As a group, research analysts predict that Archrock will post 1.13 EPS for the current fiscal year.

Archrock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued a $0.175 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.01%. This is a positive change from Archrock’s previous quarterly dividend of $0.17. Archrock’s dividend payout ratio is currently 76.92%.

Hedge Funds Weigh In On Archrock

Institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Archrock during the 1st quarter valued at approximately $43,000. BNP Paribas Financial Markets raised its position in Archrock by 77.2% in the first quarter. BNP Paribas Financial Markets now owns 69,992 shares of the energy company’s stock valued at $1,377,000 after purchasing an additional 30,493 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Archrock by 9.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 13,065 shares of the energy company’s stock valued at $257,000 after purchasing an additional 1,079 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Archrock during the 1st quarter worth $133,000. Finally, Russell Investments Group Ltd. increased its position in shares of Archrock by 70.6% during the 1st quarter. Russell Investments Group Ltd. now owns 5,946 shares of the energy company’s stock worth $117,000 after purchasing an additional 2,461 shares during 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.