Archrock, Inc. (NYSE:AROC) Receives $16.00 Average Target Price from Brokerages

Posted by Defense World Staff on Aug 5th, 2023

Shares of Archrock, Inc. (NYSE:AROC – Get Free Report) have earned a consensus rating of “Buy” from the three brokerages that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $16.00.

AROC has been the subject of several recent research reports. StockNews.com lowered shares of Archrock from a “buy” rating to a “hold” rating in a research note on Thursday. TheStreet upgraded shares of Archrock from a “c+” rating to a “b-” rating in a research report on Monday. Royal Bank of Canada boosted their price objective on Archrock from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday. Raymond James boosted their price objective on Archrock from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, 500.com reissued a “reiterates” rating on shares of Archrock in a research note on Thursday, May 4th.

Hedge Funds Weigh In On Archrock

Several hedge funds have recently added to or reduced their stakes in AROC. Parallel Advisors LLC raised its position in Archrock by 70.6% in the 2nd quarter. Parallel Advisors LLC now owns 2,921 shares of the energy company’s stock valued at $30,000 after buying an additional 1,209 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Archrock during the 1st quarter valued at $31,000. Tower Research Capital LLC TRC raised its holdings in shares of Archrock by 184.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 3,913 shares of the energy company’s stock worth $38,000 after buying an additional 2,539 shares in the last quarter. Dark Forest Capital Management LP acquired a new position in Archrock in the 4th quarter worth about $36,000. Finally, Signaturefd LLC grew its position in shares of Archrock by 31.7% in the 1st quarter. Signaturefd LLC now owns 4,094 shares of the energy company’s stock valued at $40,000 after buying an additional 986 shares during the last quarter. Institutional investors own 91.68% of the company’s stock.

Archrock Price Performance

AROC opened at $12.85 on Wednesday. The company’s 50 day simple moving average is $10.41 and its 200 day simple moving average is $10.06. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.68 and a current ratio of 1.19. Archrock has a 1 year low of $6.28 and a 1 year high of $13.07. The stock has a market capitalization of $2.01 billion, a PE ratio of 29.87, a P/E/G ratio of 2.89 and a beta of 1.75.

Archrock (NYSE:AROC – Get Free Report) last posted its quarterly earnings data on Tuesday, May 2nd. The energy company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. The company had revenue of $229.83 million for the quarter, compared to analyst estimates of $226.50 million. Archrock had a net margin of 7.36% and a return on equity of 8.20%. As a group, sell-side analysts expect that Archrock will post 0.64 EPS for the current year.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 8th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.83%. The ex-dividend date of this dividend is Monday, August 7th. This is a boost from Archrock’s previous quarterly dividend of $0.15. Archrock’s dividend payout ratio is presently 139.54%.

About Archrock

(Get Free Report

Archrock, Inc engages in the provision of operations, maintenance, service and equipment for oil and natural gas production, processing, and transportation applications. It operates through the Contract Operations and Aftermarket Services. The Contract Operations segment includes the owned fleet of natural gas compression equipment that the company uses to provide operations services.