Archrock (NYSE:AROC) Given New $27.00 Price Target at Royal Bank of Canada

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

A number of other brokerages have also weighed in on AROC. Evercore ISI started coverage on shares of Archrock in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price target for the company. JPMorgan Chase & Co. initiated coverage on Archrock in a research report on Friday, September 6th. They issued an “overweight” rating and a $24.00 target price for the company. Mizuho initiated coverage on Archrock in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price target on the stock. Stifel Nicolaus upped 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, Citigroup assumed coverage on Archrock in a report on Friday, September 27th. They set a “buy” rating and a $24.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $24.67.

Archrock Stock Performance

Shares of AROC stock opened at $23.22 on Thursday. Archrock has a 12-month low of $13.89 and a 12-month high of $24.71. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.94. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 25.52 and a beta of 1.52. The business has a 50 day simple moving average of $20.92 and a 200 day simple moving average of $20.34.

Archrock (NYSE:AROC) last released its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The company had revenue of $292.16 million during the quarter, compared to analysts’ expectations of $286.19 million. During the same quarter in the prior year, the business posted $0.20 earnings per share. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, equities research analysts anticipate that Archrock will post 1.09 EPS for the current year.

Archrock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 3.01%. This is an increase from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, November 6th. Archrock’s dividend payout ratio is currently 76.92%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new position in shares of Archrock during the third quarter valued at $28,000. Wolff Wiese Magana LLC acquired a new stake in Archrock during the 3rd quarter worth about $30,000. Allspring Global Investments Holdings LLC purchased a new position in Archrock during the 1st quarter valued at about $43,000. Continuum Advisory LLC increased its holdings in shares of Archrock by 5,621.6% in the 3rd quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company’s stock valued at $43,000 after purchasing an additional 2,080 shares during the period. Finally, Millburn Ridgefield Corp purchased a new stake in shares of Archrock in the third quarter worth approximately $50,000. 95.45% of the stock is owned by hedge funds and other 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.