JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Archrock (NYSE:AROC) Stock

Archrock (NYSE:AROC - Free Report) had its target price lifted by JPMorgan Chase & Co. from $25.00 to $27.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an overweight rating on the energy company's stock.

Several other brokerages also recently weighed in on AROC. Royal Bank of Canada upped their target price on Archrock from $26.00 to $27.00 and gave the stock an "outperform" rating in a research report on Thursday, November 14th. Evercore ISI started coverage on shares of Archrock in a research report on Wednesday, September 25th. They set an "outperform" rating and a $24.00 target price on the stock. Citigroup began coverage on shares of Archrock in a research note on Friday, September 27th. They set a "buy" rating and a $24.00 price target on the stock. Finally, Mizuho assumed coverage on shares of Archrock in a research report on Wednesday, October 2nd. 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $25.17.

Archrock Trading Up 2.8 %

Shares of AROC traded up $0.70 during trading hours on Friday, hitting $25.62. The stock had a trading volume of 927,225 shares, compared to its average volume of 1,419,098. Archrock has a 12-month low of $14.14 and a 12-month high of $26.36. The firm has a market cap of $4.49 billion, a P/E ratio of 28.15 and a beta of 1.52. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. The company's fifty day simple moving average is $22.00 and its 200 day simple moving average is $20.69.

Archrock (NYSE:AROC - Get Free Report) last released its quarterly earnings data on Monday, November 11th. The energy company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The company had revenue of $292.16 million for the quarter, compared to the consensus estimate of $286.19 million. During the same period last year, the business posted $0.20 EPS. The company's quarterly revenue was up 15.3% compared to the same quarter last year. Equities research analysts forecast that Archrock will post 1.09 EPS for the current fiscal year.

Archrock Increases Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 2.73%. This is an increase from Archrock's previous quarterly dividend of $0.17. Archrock's payout ratio is presently 76.92%.

Institutional Trading of Archrock

Institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Archrock by 11.5% during the third quarter. State Street Corp now owns 6,836,745 shares of the energy company's stock worth $138,376,000 after purchasing an additional 707,379 shares during the period. American Century Companies Inc. grew its position in shares of Archrock by 20.5% during the 2nd quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company's stock valued at $80,036,000 after buying an additional 672,663 shares during the last quarter. Geode Capital Management LLC boosted its stake in Archrock by 16.0% in the third quarter. Geode Capital Management LLC now owns 3,794,981 shares of the energy company's stock valued at $76,826,000 after acquiring an additional 523,825 shares during the period. Millennium Management LLC grew its holdings in shares of Archrock by 60.3% during the second quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company's stock valued at $47,389,000 after purchasing an additional 882,024 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Archrock by 13.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,323,820 shares of the energy company's stock valued at $47,034,000 after purchasing an additional 274,763 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.