Archrock (NYSE:AROC) Hits New 1-Year High - What's Next?

Archrock, Inc. (NYSE:AROC - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $23.59 and last traded at $23.34, with a volume of 205068 shares trading hands. The stock had previously closed at $22.62.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Citigroup started coverage on shares of Archrock in a report on Friday, September 27th. They set a "buy" rating and a $24.00 price target for the company. Mizuho assumed coverage on shares of Archrock in a report on Wednesday, October 2nd. They set an "outperform" rating and a $24.00 price target for the company. JPMorgan Chase & Co. started coverage on shares of Archrock in a research note on Friday, September 6th. They issued an "overweight" rating and a $24.00 price target for the company. Stifel Nicolaus boosted their target price on shares of Archrock from $23.00 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Finally, Evercore ISI assumed coverage on shares of Archrock in a report on Wednesday, September 25th. They issued an "outperform" rating and a $24.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.50.

Archrock Stock Up 4.4 %

The business has a 50 day moving average of $20.50 and a 200 day moving average of $20.22. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.53 and a quick ratio of 0.94. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of 26.53 and a beta of 1.52.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th will be paid a $0.175 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This is a positive change from Archrock's previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.97%. Archrock's dividend payout ratio (DPR) is 78.65%.

Hedge Funds Weigh In On Archrock

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wolff Wiese Magana LLC bought a new position in shares of Archrock during the 3rd quarter worth approximately $30,000. Allspring Global Investments Holdings LLC bought a new stake in Archrock during the first quarter worth $43,000. Quarry LP bought a new stake in shares of Archrock in the second quarter valued at $52,000. CWM LLC grew its position in shares of Archrock by 382.0% in the second quarter. CWM LLC now owns 3,591 shares of the energy company's stock valued at $73,000 after purchasing an additional 2,846 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Archrock by 16.6% in 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 in 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.