Archrock (NYSE:AROC) Sets New 1-Year High - Here's What Happened

Archrock, Inc. (NYSE:AROC - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $27.91 and last traded at $27.80, with a volume of 129021 shares traded. The stock had previously closed at $26.95.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Citigroup initiated coverage on Archrock in a research note on Friday, September 27th. They issued a "buy" rating and a $24.00 price target for the company. JPMorgan Chase & Co. boosted their target price on shares of Archrock from $25.00 to $27.00 and gave the company an "overweight" rating in a research note on Friday, November 29th. Royal Bank of Canada raised their price target on Archrock from $26.00 to $27.00 and gave the stock an "outperform" rating in a research note on Thursday, November 14th. Evercore ISI started coverage on Archrock in a research report on Wednesday, September 25th. They set an "outperform" rating and a $24.00 price objective for the company. Finally, Mizuho began coverage on Archrock in a research report on Wednesday, October 2nd. They issued an "outperform" rating and a $24.00 target price on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $25.17.

Archrock Stock Up 6.1 %

The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. The stock has a market cap of $5.01 billion, a P/E ratio of 31.43 and a beta of 1.58. The company's 50 day moving average price is $24.88 and its two-hundred day moving average price is $21.97.

Archrock (NYSE:AROC - Get Free Report) last issued its 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 quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.20 EPS. As a group, research analysts expect that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were given a $0.175 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.45%. This is an increase from Archrock's previous quarterly dividend of $0.17. Archrock's payout ratio is presently 76.92%.

Institutional Investors Weigh In On Archrock

Several institutional investors have recently bought and sold shares of AROC. Brown Brothers Harriman & Co. acquired a new position in Archrock during the 3rd quarter valued at about $28,000. Wolff Wiese Magana LLC acquired a new position in shares of Archrock during the third quarter valued at about $30,000. Continuum Advisory LLC increased its holdings in shares of Archrock by 5,621.6% during the third quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company's stock valued at $43,000 after acquiring an additional 2,080 shares in the last quarter. Millburn Ridgefield Corp purchased a new position in shares of Archrock in the 3rd quarter valued at approximately $50,000. Finally, Quarry LP acquired a new stake in Archrock in the 2nd quarter worth approximately $52,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.

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.