Archrock, Inc. (NYSE:AROC) Short Interest Down 8.1% in August

Archrock, Inc. (NYSE:AROC) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 3,720,000 shares, a decline of 8.1% from the August 15th total of 4,050,000 shares. Based on an average daily volume of 1,630,000 shares, the short-interest ratio is currently 2.3 days. Approximately 2.4% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

AROC has been the topic of several research analyst reports. JPMorgan Chase & Co. began coverage on shares of Archrock in a research report on Friday, September 6th. They set an “overweight” rating and a $24.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 target price on shares of Archrock in a report on Wednesday, August 7th. Stifel Nicolaus boosted their price target on Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, StockNews.com lowered Archrock from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Archrock has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

Institutional Investors Weigh In On Archrock

A number of hedge funds have recently added to or reduced their stakes in AROC. Allspring Global Investments Holdings LLC acquired a new stake in shares of Archrock in the 1st quarter worth about $43,000. Quarry LP acquired a new stake in shares of Archrock in the second quarter valued at approximately $52,000. CWM LLC raised its holdings in shares of Archrock by 382.0% during the second quarter. CWM LLC now owns 3,591 shares of the energy company’s stock valued at $73,000 after buying an additional 2,846 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Archrock by 16.6% during the second quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock worth $82,000 after buying an additional 578 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Archrock during the second quarter worth approximately $101,000. 95.45% of the stock is currently owned by institutional investors.

Archrock Price Performance

AROC opened at $20.38 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.53 and a debt-to-equity ratio of 1.80. The company’s 50-day moving average price is $20.16 and its 200 day moving average price is $19.83. Archrock has a fifty-two week low of $11.73 and a fifty-two week high of $23.44. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 24.55 and a beta of 1.51.

Archrock (NYSE:AROC) last announced its quarterly earnings results on Tuesday, July 30th. The energy company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $270.53 million for the quarter, compared to analysts’ expectations of $270.61 million. Archrock had a return on equity of 16.35% and a net margin of 13.20%. As a group, sell-side analysts expect that Archrock will post 1.07 earnings per share for the current year.

Archrock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend was Tuesday, August 6th. Archrock’s dividend payout ratio is presently 79.52%.

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.