Archrock (NYSE:AROC) Receives New Coverage from Analysts at Citigroup

Citigroup began coverage on shares of Archrock (NYSE:AROC) in a research note released on Friday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $24.00 price objective on the energy company’s stock.

AROC has been the topic of a number of other research reports. JPMorgan Chase & Co. initiated coverage on shares of Archrock in a research note on Friday, September 6th. They set an overweight rating and a $24.00 price target on the stock. Evercore ISI started coverage on Archrock in a research note on Wednesday, September 25th. They issued an outperform rating and a $24.00 target price for the company. StockNews.com cut Archrock from a buy rating to a hold rating in a research report on Thursday, June 6th. Stifel Nicolaus increased their price objective on Archrock from $23.00 to $25.00 and gave the company a buy rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $22.00 target price on shares of Archrock in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Archrock currently has an average rating of Moderate Buy and an average price target of $22.33.

Archrock Stock Down 0.7 %

Shares of AROC stock opened at $20.24 on Friday. The stock’s fifty day moving average price is $19.92 and its 200 day moving average price is $19.97. Archrock has a 1-year low of $11.73 and a 1-year high of $23.44. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 24.39 and a beta of 1.51. 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 issued its quarterly earnings results on Tuesday, July 30th. The energy company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $270.53 million for the quarter, compared to analyst estimates of $270.61 million. Archrock had a return on equity of 16.35% and a net margin of 13.20%. On average, research analysts expect that Archrock will post 1.07 earnings per share for the current fiscal year.

Archrock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were issued a $0.165 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.66 annualized dividend and a dividend yield of 3.26%. Archrock’s dividend payout ratio (DPR) is presently 79.52%.

Institutional Trading of Archrock

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blackstone Inc. boosted its position 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 purchasing an additional 5,766,237 shares in the last quarter. Sei Investments Co. grew its position in 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 buying an additional 1,399,309 shares during the period. Boston Partners purchased a new position in Archrock in the first quarter valued at $24,875,000. Norges Bank acquired a new position in shares of Archrock in the fourth quarter worth about $15,958,000. Finally, Millennium Management LLC boosted its stake in shares of Archrock by 60.3% during the 2nd quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company’s stock worth $47,389,000 after acquiring an additional 882,024 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.