Archrock (NYSE:AROC) Trading 6.4% Higher – What’s Next?

Shares of Archrock, Inc. (NYSE:AROC) were up 6.4% on Tuesday . The stock traded as high as $24.16 and last traded at $24.17. Approximately 752,248 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 1,383,906 shares. The stock had previously closed at $22.72.

Analyst Ratings Changes

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Royal Bank of Canada upped their target price on Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.17.

Archrock Price Performance

The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. The company’s 50 day moving average price is $27.22 and its 200-day moving average price is $24.02. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 1.60 and a beta of 1.56.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th were issued a $0.19 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.76 annualized dividend and a dividend yield of 3.16%. This is a boost from Archrock’s previous quarterly dividend of $0.18. Archrock’s dividend payout ratio is currently 73.08%.

Institutional Investors Weigh In On Archrock

Several large investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. raised its position in shares of Archrock by 0.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 50,654 shares of the energy company’s stock worth $1,025,000 after purchasing an additional 427 shares during the period. Summit Investment Advisors Inc. raised its holdings in Archrock by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 17,459 shares of the energy company’s stock worth $435,000 after buying an additional 553 shares during the period. Atria Investments Inc lifted its stake in Archrock by 2.3% during the third quarter. Atria Investments Inc now owns 32,648 shares of the energy company’s stock valued at $661,000 after buying an additional 746 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Archrock by 1.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 48,091 shares of the energy company’s stock worth $1,197,000 after buying an additional 796 shares during the period. Finally, Glenmede Trust Co. NA increased its position in shares of Archrock by 2.7% in the third quarter. Glenmede Trust Co. NA now owns 31,485 shares of the energy company’s stock worth $637,000 after acquiring an additional 838 shares in the last quarter. 95.45% of the stock is owned by institutional investors.

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.