Archrock’s (AROC) “Buy (B)” Rating Reiterated at Weiss Ratings

Weiss Ratings restated their buy (b) rating on shares of Archrock (NYSE:AROC) in a research report report published on Wednesday,Weiss Ratings reports.

A number of other research firms also recently issued reports on AROC. Mizuho upped their target price on shares of Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Evercore ISI cut their price target on shares of Archrock from $32.00 to $31.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company started coverage on Archrock in a research note on Wednesday, September 3rd. They set an “overweight” rating and a $30.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Archrock currently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Archrock Stock Down 4.5%

NYSE:AROC opened at $23.88 on Wednesday. The stock’s fifty day moving average price is $24.54 and its two-hundred day moving average price is $24.38. Archrock has a 52-week low of $19.73 and a 52-week high of $30.44. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.30 and a current ratio of 1.81. The company has a market cap of $4.20 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 1.29 and a beta of 1.07.

Archrock (NYSE:AROC) last posted its quarterly earnings data on Monday, August 4th. The energy company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. Archrock had a return on equity of 18.74% and a net margin of 17.17%.The firm had revenue of $383.15 million for the quarter, compared to the consensus estimate of $366.34 million. During the same quarter in the prior year, the business earned $0.23 EPS. The business’s revenue for the quarter was up 41.6% compared to the same quarter last year. On average, analysts anticipate that Archrock will post 1.09 EPS for the current year.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Tuesday, August 5th. This is a boost from Archrock’s previous quarterly dividend of $0.19. Archrock’s payout ratio is presently 63.64%.

Insider Buying and Selling at Archrock

In related news, SVP Eric W. Thode sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $23.54, for a total transaction of $235,400.00. Following the sale, the senior vice president owned 224,809 shares of the company’s stock, valued at $5,292,003.86. This represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jason C. Rebrook purchased 10,000 shares of Archrock stock in a transaction that occurred on Thursday, September 18th. The shares were bought at an average cost of $24.17 per share, for a total transaction of $241,700.00. Following the transaction, the director directly owned 74,511 shares of the company’s stock, valued at $1,800,930.87. This represents a 15.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.60% of the stock is owned by insiders.

Institutional Trading of Archrock

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its holdings in shares of Archrock by 164.8% during the 1st quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company’s stock worth $26,000 after purchasing an additional 600 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Archrock by 217.9% during the first quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company’s stock worth $35,000 after buying an additional 902 shares in the last quarter. TCTC Holdings LLC grew its stake in Archrock by 119.6% during the first quarter. TCTC Holdings LLC now owns 1,599 shares of the energy company’s stock worth $42,000 after buying an additional 871 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in Archrock during the first quarter worth about $47,000. Finally, State of Wyoming acquired a new stake in shares of Archrock during the 1st quarter worth approximately $53,000. 95.45% of the stock is owned by institutional investors and hedge funds.

About Archrock

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.