Citigroup Begins Coverage on Archrock (NYSE:AROC)

Citigroup began coverage on shares of Archrock (NYSE:AROC) in a research note issued to investors on Friday, Marketbeat.com reports. The firm issued a buy rating and a $24.00 price target on the energy company’s stock.

AROC has been the topic of a number of other research reports. Royal Bank of Canada reaffirmed an outperform rating and set a $22.00 price target on shares of Archrock in a report on Wednesday, August 7th. Evercore ISI assumed coverage on Archrock in a research report on Wednesday, September 25th. They set an outperform rating and a $24.00 price target for the company. StockNews.com cut Archrock from a buy rating to a hold rating in a research note on Thursday, June 6th. JPMorgan Chase & Co. began coverage on shares of Archrock in a research note on Friday, September 6th. They set an overweight rating and a $24.00 price objective on the stock. Finally, Stifel Nicolaus upped their price target on shares of Archrock from $23.00 to $25.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $22.33.

Archrock Trading Up 1.1 %

Shares of NYSE AROC opened at $20.39 on Friday. Archrock has a 12-month low of $11.73 and a 12-month high of $23.44. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 24.57 and a beta of 1.51. The company has a current ratio of 1.53, a quick ratio of 0.94 and a debt-to-equity ratio of 1.80. The stock’s 50 day simple moving average is $19.92 and its 200 day simple moving average is $19.96.

Archrock (NYSE:AROC) last released its quarterly earnings results on Tuesday, July 30th. The energy company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The business had revenue of $270.53 million during the quarter, compared to analyst estimates of $270.61 million. Archrock had a net margin of 13.20% and a return on equity of 16.35%. Equities research analysts expect that Archrock will post 1.07 EPS for the current year.

Archrock Dividend Announcement

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

Hedge Funds Weigh In On Archrock

A number of hedge funds and other institutional investors have recently modified their holdings of AROC. Vanguard Group Inc. boosted its stake in Archrock by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company’s stock worth $360,385,000 after purchasing an additional 849,750 shares during the period. Earnest Partners LLC raised its position in Archrock by 2.6% during the first quarter. Earnest Partners LLC now owns 14,007,955 shares of the energy company’s stock valued at $275,536,000 after buying an additional 351,391 shares during the period. Blackstone Inc. lifted its position in shares of Archrock by 4,211.9% in the fourth quarter. Blackstone Inc. now owns 5,903,142 shares of the energy company’s stock worth $90,908,000 after purchasing an additional 5,766,237 shares in the last quarter. Sei Investments Co. lifted its position in Archrock by 5.8% in the 1st quarter. Sei Investments Co. now owns 5,409,863 shares of the energy company’s stock worth $106,412,000 after buying an additional 295,998 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Archrock by 20.5% in the second quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company’s stock worth $80,036,000 after acquiring an additional 672,663 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

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.