Archrock (NYSE:AROC) Price Target Raised to $40.00

Archrock (NYSE:AROC) had its target price boosted by Royal Bank Of Canada from $32.00 to $40.00 in a research note issued to investors on Monday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the energy company’s stock.

Several other research analysts have also issued reports on the company. Zacks Research raised Archrock from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Archrock in a research note on Wednesday, January 21st. Stifel Nicolaus increased their price objective on Archrock from $31.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Dawson James reissued an “outperform” rating on shares of Archrock in a research report on Wednesday, February 25th. Finally, Wall Street Zen cut shares of Archrock from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Archrock has an average rating of “Buy” and a consensus target price of $38.14.

Archrock Price Performance

Shares of NYSE AROC opened at $35.70 on Monday. Archrock has a 1 year low of $20.12 and a 1 year high of $37.26. The stock has a market capitalization of $6.25 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.50 and a beta of 0.87. The company’s 50-day moving average is $31.59 and its 200 day moving average is $27.27. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.54 and a quick ratio of 0.99.

Archrock (NYSE:AROC) last issued its quarterly earnings data on Tuesday, February 24th. The energy company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.40 by $0.29. The business had revenue of $377.07 million during the quarter, compared to analyst estimates of $378.04 million. Archrock had a net margin of 21.63% and a return on equity of 23.57%. Archrock’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the business posted $0.34 earnings per share. On average, sell-side analysts expect that Archrock will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Tuesday, February 10th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Tuesday, February 10th. This is an increase from Archrock’s previous quarterly dividend of $0.21. Archrock’s dividend payout ratio (DPR) is currently 48.09%.

Insiders Place Their Bets

In related news, CAO Donna A. Henderson sold 10,413 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $36.74, for a total transaction of $382,573.62. Following the completion of the transaction, the chief accounting officer owned 27,757 shares of the company’s stock, valued at $1,019,792.18. This trade represents a 27.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Archrock

Institutional investors have recently modified their holdings of the stock. Sound Income Strategies LLC raised its position in shares of Archrock by 71.0% in the 4th quarter. Sound Income Strategies LLC now owns 971 shares of the energy company’s stock worth $26,000 after purchasing an additional 403 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in Archrock during the 3rd quarter valued at about $27,000. Garton & Associates Financial Advisors LLC purchased a new stake in Archrock during the 4th quarter valued at about $27,000. Wilmington Savings Fund Society FSB increased 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 purchasing an additional 673 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Archrock during the 4th quarter valued at about $33,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

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.