Archrock, Inc. (NYSE:AROC) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Archrock, Inc. (NYSE:AROC) have been given a consensus recommendation of “Buy” by the six ratings firms that are covering the company, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $26.67.

AROC has been the subject of several research analyst reports. Citigroup upped their target price on shares of Archrock from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. JPMorgan Chase & Co. upped their price objective on shares of Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, November 29th.

Archrock Stock Down 1.2 %

AROC stock opened at $26.37 on Wednesday. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 1.60 and a beta of 1.56. The company has a 50-day moving average of $27.23 and a two-hundred day moving average of $24.34. Archrock has a 52-week low of $17.27 and a 52-week high of $30.44. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Wednesday, February 12th. This is a positive change from Archrock’s previous quarterly dividend of $0.18. Archrock’s payout ratio is 73.08%.

Hedge Funds Weigh In On Archrock

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. acquired a new position in Archrock in the third quarter worth about $28,000. Wolverine Asset Management LLC grew its stake in shares of Archrock by 111.8% in the 4th quarter. Wolverine Asset Management LLC now owns 1,504 shares of the energy company’s stock valued at $37,000 after purchasing an additional 14,200 shares during the period. Continuum Advisory LLC raised its holdings in shares of Archrock by 5,621.6% in the 3rd quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company’s stock worth $43,000 after buying an additional 2,080 shares in the last quarter. Millburn Ridgefield Corp bought a new position in shares of Archrock during the 3rd quarter worth approximately $50,000. Finally, Montag A & Associates Inc. bought a new position in shares of Archrock during the 4th quarter worth approximately $55,000. 95.45% of the stock is owned by institutional investors.

Archrock Company Profile

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.