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

Shares of Archrock, Inc. (NYSE:AROC) have earned a consensus recommendation of “Buy” from the ten research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $41.1429.

Several research firms recently issued reports on AROC. Mizuho upped their price target on Archrock from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. Stifel Nicolaus set a $41.00 target price on shares of Archrock in a research note on Thursday, May 7th. Raymond James Financial reissued an “outperform” rating and set a $46.00 target price on shares of Archrock in a report on Thursday, May 7th. Weiss Ratings upgraded shares of Archrock from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada lifted their price target on shares of Archrock from $32.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, March 16th.

Insider Buying and Selling

In other news, SVP Jason Ingersoll sold 33,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $38.19, for a total transaction of $1,260,270.00. Following the completion of the transaction, the senior vice president directly owned 277,454 shares of the company’s stock, valued at approximately $10,595,968.26. This represents a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Doug S. Aron sold 90,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $36.74, for a total value of $3,306,600.00. Following the sale, the chief financial officer owned 394,337 shares in the company, valued at $14,487,941.38. The trade was a 18.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 158,000 shares of company stock valued at $5,907,370. 2.90% of the stock is currently owned by insiders.

Institutional Trading of Archrock

Hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. increased its holdings in shares of Archrock by 5.5% during the fourth quarter. Invesco Ltd. now owns 8,719,020 shares of the energy company’s stock valued at $226,869,000 after purchasing an additional 457,569 shares during the period. State Street Corp raised its position in shares of Archrock by 2.2% during the 4th quarter. State Street Corp now owns 7,018,889 shares of the energy company’s stock worth $182,631,000 after buying an additional 152,312 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Archrock by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,833,290 shares of the energy company’s stock worth $177,805,000 after buying an additional 111,218 shares in the last quarter. Sei Investments Co. boosted its stake in Archrock by 3.5% during the 3rd quarter. Sei Investments Co. now owns 5,499,093 shares of the energy company’s stock valued at $144,681,000 after purchasing an additional 187,252 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Archrock by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 4,163,783 shares of the energy company’s stock valued at $108,359,000 after buying an additional 84,715 shares in the last quarter. Institutional investors own 95.45% of the company’s stock.

Archrock Stock Up 0.1%

NYSE:AROC traded up $0.05 during mid-day trading on Tuesday, reaching $38.56. The stock had a trading volume of 926,089 shares, compared to its average volume of 2,250,955. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.41 and a quick ratio of 0.91. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 1.69 and a beta of 0.84. Archrock has a 1-year low of $21.17 and a 1-year high of $42.23. The stock’s 50 day simple moving average is $37.18 and its two-hundred day simple moving average is $33.96.

Archrock (NYSE:AROC) last announced its quarterly earnings data on Tuesday, May 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.05). Archrock had a net margin of 21.45% and a return on equity of 22.89%. The firm had revenue of $373.77 million for the quarter, compared to analyst estimates of $378.36 million. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts anticipate that Archrock will post 1.9 EPS for the current year.

Archrock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 12th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Tuesday, May 12th. Archrock’s payout ratio is presently 47.83%.

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.