Archrock, Inc. (NYSE:AROC) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Archrock, Inc. has received a consensus rating of "Moderate Buy" from eight research firms, with an average 12-month price target of $30.00.
• The company recently increased its quarterly dividend to $0.21 per share, marking an annualized yield of 3.3%.
• Insider activity includes the purchase of 10,000 shares by Director Jason C. Rebrook, reflecting a 15.50% increase in his ownership stake.

Archrock, Inc. (NYSE:AROC - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eight research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $30.00.

A number of brokerages recently commented on AROC. Wells Fargo & Company initiated coverage on Archrock in a research report on Wednesday, September 3rd. They issued an "overweight" rating and a $30.00 price objective for the company. Evercore ISI lowered their price target on shares of Archrock from $32.00 to $31.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. Weiss Ratings restated a "buy (b)" rating on shares of Archrock in a report on Saturday, September 27th. Finally, Mizuho lifted their target price on shares of Archrock from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Friday, August 29th.

Insider Activity

In related news, Director Jason C. Rebrook bought 10,000 shares of Archrock stock in a transaction on Thursday, September 18th. The shares were purchased at an average price of $24.17 per share, for a total transaction of $241,700.00. Following the completion of the acquisition, the director owned 74,511 shares in the company, valued at approximately $1,800,930.87. This represents a 15.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Eric W. Thode sold 10,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $23.54, for a total value of $235,400.00. Following the transaction, the senior vice president owned 224,809 shares of the company's stock, valued at $5,292,003.86. The trade was a 4.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Archrock

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC increased its position in shares of Archrock by 164.8% in the 1st quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company's stock valued at $26,000 after buying an additional 600 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Archrock in the first quarter valued at about $33,000. Jones Financial Companies Lllp increased its holdings in shares of Archrock by 217.9% in the first quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company's stock worth $35,000 after acquiring an additional 902 shares in the last quarter. TCTC Holdings LLC increased its holdings in shares of Archrock by 119.6% in the first quarter. TCTC Holdings LLC now owns 1,599 shares of the energy company's stock worth $42,000 after acquiring an additional 871 shares in the last quarter. Finally, Bayforest Capital Ltd acquired a new stake in shares of Archrock during the first quarter worth about $47,000. 95.45% of the stock is owned by institutional investors.

Archrock Stock Down 0.4%

NYSE:AROC opened at $25.12 on Friday. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 19.03, a P/E/G ratio of 1.30 and a beta of 1.07. 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 stock's fifty day moving average price is $24.39 and its two-hundred day moving average price is $24.44. Archrock has a 52-week low of $19.73 and a 52-week high of $30.44.

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

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were issued a $0.21 dividend. This is a boost from Archrock's previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Tuesday, August 5th. Archrock's dividend payout ratio is currently 63.64%.

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.

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