Archrock (NYSE:AROC) Given New $40.00 Price Target at Citigroup

Archrock (NYSE:AROC) had its target price boosted by Citigroup from $31.00 to $40.00 in a research report released on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the energy company’s stock.

Several other analysts also recently weighed in on AROC. Wells Fargo & Company boosted their target price on shares of Archrock from $30.00 to $39.00 and gave the stock an “overweight” rating in a research report on Friday. Zacks Research upgraded shares of Archrock from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Wall Street Zen raised Archrock from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Archrock in a research report on Wednesday, January 21st. Finally, Stifel Nicolaus boosted their price target on Archrock from $31.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $36.86.

Archrock Trading Up 4.1%

Shares of NYSE:AROC opened at $36.78 on Monday. The business’s 50-day moving average is $29.23 and its 200 day moving average is $26.33. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.54 and a quick ratio of 0.99. Archrock has a 1 year low of $20.12 and a 1 year high of $36.94. The firm has a market capitalization of $6.43 billion, a P/E ratio of 20.10, a P/E/G ratio of 1.47 and a beta of 0.87.

Archrock (NYSE:AROC) last issued its quarterly earnings results on Tuesday, February 24th. The energy company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.29. Archrock had a return on equity of 23.57% and a net margin of 21.63%.The business had revenue of $377.07 million during the quarter, compared to the consensus estimate of $378.04 million. During the same quarter last year, the company earned $0.34 earnings per share. The company’s quarterly revenue was up 15.5% on a year-over-year basis. On average, research analysts predict that Archrock will post 1.09 earnings per share for the current fiscal year.

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Tuesday, February 10th were given a $0.22 dividend. The ex-dividend date was Tuesday, February 10th. This represents a $0.88 annualized dividend and a yield of 2.4%. This is a boost from Archrock’s previous quarterly dividend of $0.21. Archrock’s payout ratio is currently 48.09%.

Hedge Funds Weigh In On Archrock

Large investors have recently made changes to their positions in the company. Financial Security Advisor Inc. increased its stake in Archrock by 3.0% during the fourth quarter. Financial Security Advisor Inc. now owns 12,000 shares of the energy company’s stock worth $312,000 after acquiring an additional 344 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Archrock by 3.7% during the 4th quarter. Crossmark Global Holdings Inc. now owns 10,290 shares of the energy company’s stock worth $268,000 after purchasing an additional 366 shares during the period. Severin Investments LLC increased its position in shares of Archrock by 2.0% during the 4th quarter. Severin Investments LLC now owns 20,111 shares of the energy company’s stock worth $523,000 after purchasing an additional 400 shares during the last quarter. Sound Income Strategies LLC raised its holdings in Archrock by 71.0% in the 4th quarter. Sound Income Strategies LLC now owns 971 shares of the energy company’s stock valued at $26,000 after buying an additional 403 shares during the period. Finally, Allworth Financial LP lifted its position in Archrock by 3.0% in the third quarter. Allworth Financial LP now owns 15,030 shares of the energy company’s stock valued at $395,000 after buying an additional 436 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

About Archrock

Archrock, Inc is a Houston‐based provider of natural gas compression services and equipment to the oil and gas industry in North America. Founded in 2004, the company supplies both short‐term rentals and long‐term contracts for compression solutions, serving upstream and midstream producers. Archrock’s offerings include engineered compression systems, aftermarket parts, maintenance and field services designed to optimize wellhead and pipeline operations.

The company’s core business activities focus on the design, manufacture, rental and sale of gas compression equipment.