Archrock, Inc. (NYSE:AROC) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Archrock, Inc. (NYSE:AROC) have received an average rating of “Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $26.67.

Separately, Citigroup lifted their price target on shares of Archrock from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th.

Institutional Investors Weigh In On Archrock

A number of institutional investors and hedge funds have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. grew its holdings in 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. boosted its stake in shares of 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 acquiring an additional 553 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Archrock by 4.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 12,761 shares of the energy company’s stock worth $335,000 after acquiring an additional 574 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Archrock by 164.8% in the 1st quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company’s stock valued at $26,000 after acquiring an additional 600 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in Archrock by 1.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 48,091 shares of the energy company’s stock valued at $1,197,000 after purchasing an additional 796 shares during the last quarter. 95.45% of the stock is owned by institutional investors.

Archrock Price Performance

NYSE AROC opened at $24.04 on Friday. The firm’s 50 day moving average is $25.32 and its 200-day moving average is $24.89. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $4.21 billion, a PE ratio of 26.42, a price-to-earnings-growth ratio of 1.60 and a beta of 1.25. Archrock has a 12-month low of $17.27 and a 12-month high of $30.44.

Archrock Increases Dividend

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

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.