Archrock (NYSE:AROC) Given New $27.00 Price Target at Royal Bank of Canada

Archrock (NYSE:AROC) had its target price boosted by Royal Bank of Canada from $26.00 to $27.00 in a report published on Thursday,Benzinga reports. The firm currently has an outperform rating on the energy company’s stock.

Other analysts have also issued research reports about the stock. Evercore ISI initiated coverage on shares of Archrock in a research note on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price objective on the stock. Mizuho assumed coverage on shares of Archrock in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on Archrock in a research note on Friday, September 6th. They issued an “overweight” rating and a $24.00 target price on the stock. Citigroup assumed coverage on Archrock in a research note on Friday, September 27th. They issued a “buy” rating and a $24.00 target price on the stock. Finally, Stifel Nicolaus raised their target price on Archrock from $23.00 to $25.00 and gave the company 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 assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.67.

Archrock Price Performance

Shares of NYSE:AROC traded down $0.15 on Thursday, reaching $23.11. 429,544 shares of the company were exchanged, compared to its average volume of 1,423,250. The company has a current ratio of 1.26, a quick ratio of 0.94 and a debt-to-equity ratio of 1.73. Archrock has a 1-year low of $13.89 and a 1-year high of $24.71. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 25.56 and a beta of 1.52. The company has a 50-day moving average of $20.76 and a 200-day moving average of $20.29.

Archrock (NYSE:AROC) last released its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The company had revenue of $292.16 million for 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 firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the company earned $0.20 EPS. Equities analysts forecast that Archrock will post 1.13 earnings per share for the current fiscal year.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 3.03%. The ex-dividend date was Wednesday, November 6th. This is a boost from Archrock’s previous quarterly dividend of $0.17. Archrock’s payout ratio is 76.92%.

Institutional Investors Weigh In On Archrock

Several large investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Archrock by 16.6% during the second quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock valued at $82,000 after purchasing an additional 578 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Archrock by 0.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 84,245 shares of the energy company’s stock valued at $1,658,000 after purchasing an additional 710 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Archrock by 6.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,373 shares of the energy company’s stock valued at $230,000 after buying an additional 713 shares during the last quarter. Atria Investments Inc increased its position in shares of Archrock by 2.3% during the 3rd quarter. Atria Investments Inc now owns 32,648 shares of the energy company’s stock worth $661,000 after purchasing an additional 746 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Archrock by 2.2% during the 2nd quarter. Van ECK Associates Corp now owns 35,280 shares of the energy company’s stock worth $713,000 after purchasing an additional 753 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.

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.