Archrock, Inc. (NYSE:AROC) Given Average Rating of “Buy” by Brokerages

Archrock, Inc. (NYSE:AROC) has been assigned a consensus recommendation of “Buy” from the eight brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $32.40.

A number of equities research analysts recently issued reports on the stock. Royal Bank Of Canada boosted their target price on shares of Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Zacks Research raised shares of Archrock from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of Archrock in a report on Wednesday, January 21st. Finally, Evercore lifted their target price on Archrock from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, October 30th.

Insider Activity

In other Archrock news, SVP Eric W. Thode sold 40,740 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $25.10, for a total value of $1,022,574.00. Following the completion of the sale, the senior vice president owned 184,216 shares of the company’s stock, valued at $4,623,821.60. This trade represents a 18.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Archrock

A number of hedge funds have recently bought and sold shares of the business. Sound Income Strategies LLC grew its position in shares of Archrock by 71.0% during the fourth quarter. Sound Income Strategies LLC now owns 971 shares of the energy company’s stock worth $26,000 after buying an additional 403 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in Archrock in the third quarter valued at $27,000. Wilmington Savings Fund Society FSB boosted its stake in Archrock by 164.5% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,082 shares of the energy company’s stock valued at $28,000 after acquiring an additional 673 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Archrock during the 4th quarter worth $33,000. Finally, Jones Financial Companies Lllp increased its position in shares of Archrock by 217.9% in the 1st quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company’s stock worth $35,000 after purchasing an additional 902 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Archrock Trading Up 4.3%

Shares of Archrock stock opened at $32.07 on Friday. Archrock has a fifty-two week low of $20.12 and a fifty-two week high of $32.42. The business’s fifty day moving average is $26.63 and its two-hundred day moving average is $25.16. The company has a quick ratio of 1.01, a current ratio of 1.56 and a debt-to-equity ratio of 1.80. The firm has a market cap of $5.62 billion, a PE ratio of 21.38, a P/E/G ratio of 1.32 and a beta of 0.93.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 18th. Investors of record on Tuesday, February 10th will be given a dividend of $0.22 per share. This is a positive change from Archrock’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. Archrock’s dividend payout ratio is currently 56.00%.

Archrock Company Profile

Archrock, Inc is a Houston‐based provider of natural gas compression services and equipment to the oil and gas industry in North America. Founded in 2004, the company supplies both short‐term rentals and long‐term contracts for compression solutions, serving upstream and midstream producers. Archrock’s offerings include engineered compression systems, aftermarket parts, maintenance and field services designed to optimize wellhead and pipeline operations.

The company’s core business activities focus on the design, manufacture, rental and sale of gas compression equipment.