Archrock, Inc. (NYSE:AROC – Get Free Report) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $27.91 and last traded at $27.80, with a volume of 129021 shares changing hands. The stock had previously closed at $26.95.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. Evercore ISI started coverage on shares of Archrock in a report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price target for the company. JPMorgan Chase & Co. lifted their target price on Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Citigroup began coverage on Archrock in a research note on Friday, September 27th. They set a “buy” rating and a $24.00 price target on the stock. Mizuho began coverage on Archrock in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price objective for the company. Finally, Royal Bank of Canada upped their target price on shares of Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.17.
Check Out Our Latest Stock Report on AROC
Archrock Price Performance
Archrock (NYSE:AROC – Get Free Report) last issued its quarterly earnings data on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $292.16 million during the quarter, compared to analysts’ expectations of $286.19 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.20 earnings per share. On average, equities research analysts expect that Archrock, Inc. will post 1.12 EPS for the current fiscal year.
Archrock Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were given a $0.175 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.42%. This is a boost from Archrock’s previous quarterly dividend of $0.17. Archrock’s dividend payout ratio is currently 76.92%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC increased its holdings in shares of Archrock by 124.2% in the third quarter. Barclays PLC now owns 302,610 shares of the energy company’s stock worth $6,125,000 after acquiring an additional 167,648 shares in the last quarter. Verition Fund Management LLC bought a new stake in Archrock during the 3rd quarter worth approximately $314,000. Algert Global LLC raised its holdings in Archrock by 175.7% during the 2nd quarter. Algert Global LLC now owns 567,240 shares of the energy company’s stock worth $11,470,000 after buying an additional 361,520 shares during the period. JPMorgan Chase & Co. lifted its stake in Archrock by 94.5% in the third quarter. JPMorgan Chase & Co. now owns 422,383 shares of the energy company’s stock valued at $8,549,000 after buying an additional 205,241 shares in the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Archrock in the third quarter valued at approximately $200,000. 95.45% of the stock is currently 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.
See Also
- Five stocks we like better than Archrock
- When to Sell a Stock for Profit or Loss
- 3 Cheap Small-Cap Banks for Dividend Growth Investors
- Using the MarketBeat Dividend Yield Calculator
- 3 Defensive Stocks Analysts Are Bullish on to Kick Off the Year
- Breakout Stocks: What They Are and How to Identify Them
- Vistra Corp: Could 2025 Continue Its Streak of Outperformance?
Receive News & Ratings for Archrock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Archrock and related companies with MarketBeat.com's FREE daily email newsletter.