Archrock (NYSE:AROC) Sets New 52-Week High – Here’s What Happened

Archrock, Inc. (NYSE:AROC)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $33.82 and last traded at $33.7440, with a volume of 834666 shares traded. The stock had previously closed at $32.82.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AROC shares. Royal Bank Of Canada raised their price objective on Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “buy (b)” rating on shares of Archrock in a report on Wednesday, January 21st. Zacks Research raised shares of Archrock from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Finally, Evercore boosted their price objective on shares of Archrock from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $32.40.

Archrock Stock Performance

The company has a 50-day simple moving average of $28.24 and a two-hundred day simple moving average of $25.93. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.01 and a current ratio of 1.56. The firm has a market capitalization of $5.92 billion, a P/E ratio of 22.50, a PEG ratio of 1.41 and a beta of 0.93.

Archrock Increases Dividend

The company 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. The ex-dividend date of this dividend was Tuesday, February 10th. This is a positive change from Archrock’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 2.6%. Archrock’s payout ratio is currently 58.67%.

Institutional Trading of Archrock

A number of hedge funds and other institutional investors have recently modified their holdings of AROC. Sound Income Strategies LLC lifted its position in Archrock by 71.0% during the 4th quarter. Sound Income Strategies LLC now owns 971 shares of the energy company’s stock valued at $26,000 after acquiring an additional 403 shares during the period. Ameriflex Group Inc. purchased a new position in shares of Archrock during the third quarter valued at approximately $27,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Archrock during the fourth quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB boosted its position in shares of Archrock by 164.5% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,082 shares of the energy company’s stock worth $28,000 after purchasing an additional 673 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Archrock in the 4th quarter worth approximately $33,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

About Archrock

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.