Archrock (NYSE:AROC) Research Coverage Started at Evercore ISI

Evercore ISI initiated coverage on shares of Archrock (NYSE:AROC) in a research report report published on Wednesday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $24.00 target price on the energy company’s stock.

AROC has been the topic of a number of other reports. JPMorgan Chase & Co. assumed coverage on Archrock in a research report on Friday, September 6th. They set an overweight rating and a $24.00 price objective on the stock. 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. StockNews.com lowered shares of Archrock from a buy rating to a hold rating in a report on Thursday, June 6th. Finally, Stifel Nicolaus lifted their price target 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. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Archrock presently has an average rating of Moderate Buy and an average price target of $22.33.

Archrock Price Performance

Archrock stock opened at $20.39 on Wednesday. Archrock has a 52-week low of $11.73 and a 52-week high of $23.44. The company has a quick ratio of 0.94, a current ratio of 1.53 and a debt-to-equity ratio of 1.80. The firm’s fifty day moving average is $19.92 and its 200 day moving average is $19.95. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 24.57 and a beta of 1.51.

Archrock (NYSE:AROC) last announced its earnings results on Tuesday, July 30th. The energy company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. Archrock had a net margin of 13.20% and a return on equity of 16.35%. The firm had revenue of $270.53 million for the quarter, compared to analysts’ expectations of $270.61 million. Sell-side 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 paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend was Tuesday, August 6th. Archrock’s dividend payout ratio is presently 79.52%.

Institutional Investors Weigh In On Archrock

Several large investors have recently modified their holdings of AROC. Allspring Global Investments Holdings LLC acquired a new stake in Archrock in the first quarter valued at approximately $43,000. Quarry LP purchased a new stake in Archrock in the second quarter valued at about $52,000. CWM LLC boosted its holdings in Archrock by 382.0% in the second quarter. CWM LLC now owns 3,591 shares of the energy company’s stock worth $73,000 after acquiring an additional 2,846 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Archrock by 16.6% during the second quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock worth $82,000 after acquiring an additional 578 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Archrock in the 2nd quarter valued at approximately $101,000. Institutional investors 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.