Archrock (NYSE:AROC) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Archrock (NYSE:AROC) from a buy rating to a hold rating in a report published on Tuesday morning.

Several other equities analysts have also recently commented on AROC. Stifel Nicolaus lifted their target price on shares of Archrock from $20.00 to $23.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Royal Bank of Canada boosted their price objective on Archrock from $20.00 to $21.00 and gave the stock an outperform rating in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Archrock currently has a consensus rating of Moderate Buy and a consensus price target of $19.67.

Archrock Stock Down 1.0 %

AROC stock opened at $19.53 on Tuesday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.74 and a current ratio of 1.26. Archrock has a fifty-two week low of $8.92 and a fifty-two week high of $21.60. The stock’s 50 day simple moving average is $19.92 and its 200 day simple moving average is $17.20. The company has a market cap of $3.05 billion, a P/E ratio of 23.53, a price-to-earnings-growth ratio of 1.64 and a beta of 1.58.

Archrock (NYSE:AROC) last issued its quarterly earnings data on Wednesday, May 1st. The energy company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. Archrock had a net margin of 12.54% and a return on equity of 15.30%. The firm had revenue of $268.49 million during the quarter, compared to analysts’ expectations of $260.51 million. During the same period last year, the company earned $0.10 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. On average, research analysts expect that Archrock will post 1.07 earnings per share for the current fiscal year.

Archrock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.66 dividend on an annualized basis and a yield of 3.38%. Archrock’s dividend payout ratio (DPR) is 79.52%.

Hedge Funds Weigh In On Archrock

Several hedge funds have recently bought and sold shares of the company. Louisiana State Employees Retirement System purchased a new stake in shares of Archrock in the 4th quarter valued at about $1,058,000. Chase Investment Counsel Corp bought a new stake in Archrock during the fourth quarter valued at approximately $1,909,000. Kayne Anderson Capital Advisors LP grew its stake in Archrock by 91.0% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 452,041 shares of the energy company’s stock worth $6,961,000 after buying an additional 215,400 shares in the last quarter. Fisher Asset Management LLC bought a new position in shares of Archrock in the 4th quarter worth $752,000. Finally, Blackstone Inc. bought a new position in shares of Archrock in the 3rd quarter worth $1,725,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

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.