Wells Fargo & Company Issues Positive Forecast for Archrock (NYSE:AROC) Stock Price

Archrock (NYSE:AROCFree Report) had its price target increased by Wells Fargo & Company from $40.00 to $43.00 in a research note released on Thursday,Benzinga reports. They currently have an overweight rating on the energy company’s stock.

Other analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Archrock in a report on Wednesday, January 21st. Dawson James reissued an “outperform” rating on shares of Archrock in a report on Wednesday, February 25th. Wall Street Zen cut shares of Archrock from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Mizuho raised their price objective on shares of Archrock from $32.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, April 2nd. Finally, Stifel Nicolaus set a $41.00 price objective on shares of Archrock in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $40.43.

Check Out Our Latest Stock Report on AROC

Archrock Stock Down 2.7%

AROC stock opened at $38.04 on Thursday. The company has a current ratio of 1.54, a quick ratio of 0.99 and a debt-to-equity ratio of 1.62. Archrock has a twelve month low of $21.17 and a twelve month high of $40.12. The company’s 50 day moving average is $36.17 and its two-hundred day moving average is $30.05. The stock has a market cap of $6.67 billion, a P/E ratio of 20.67, a PEG ratio of 1.66 and a beta of 0.94.

Archrock (NYSE:AROCGet Free Report) last released its quarterly earnings data on Tuesday, May 5th. The energy company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.05). Archrock had a return on equity of 23.19% and a net margin of 21.45%.The company had revenue of $373.77 million for the quarter, compared to analyst estimates of $378.36 million. Archrock’s quarterly revenue was up 7.7% compared to the same quarter last year. Research analysts expect that Archrock will post 1.96 earnings per share for the current fiscal year.

Archrock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 12th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, May 12th. Archrock’s payout ratio is presently 48.09%.

Insiders Place Their Bets

In other news, CFO Doug S. Aron sold 98,050 shares of Archrock stock in a transaction on Monday, March 30th. The shares were sold at an average price of $34.76, for a total value of $3,408,218.00. Following the transaction, the chief financial officer directly owned 484,337 shares of the company’s stock, valued at $16,835,554.12. The trade was a 16.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Donna A. Henderson sold 10,413 shares of Archrock stock in a transaction on Wednesday, March 4th. The shares were 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 directly owned 27,757 shares in the company, valued at $1,019,792.18. The trade was a 27.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 179,963 shares of company stock worth $6,336,907 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Archrock

A number of institutional investors have recently modified their holdings of AROC. Sound Income Strategies LLC increased its holdings 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 valued at $26,000 after acquiring an additional 403 shares during the period. Valued Wealth Advisors LLC purchased a new position in Archrock during the 1st quarter worth $26,000. Ameriflex Group Inc. purchased a new position in Archrock during the 3rd quarter worth $27,000. Garton & Associates Financial Advisors LLC purchased a new position in Archrock during the 4th quarter worth $27,000. Finally, Wilmington Savings Fund Society FSB raised its position 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 worth $28,000 after buying an additional 673 shares during the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

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Archrock Company Profile

(Get Free Report)

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.

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