Archrock, Inc. (NYSE:AROC) Receives Consensus Recommendation of “Hold” from Brokerages
Archrock, Inc. (NYSE:AROC) has been assigned a consensus rating of “Hold” from the nine analysts that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $13.35.
Several equities research analysts recently weighed in on AROC shares. Zacks Investment Research cut shares of Archrock from a “hold” rating to a “sell” rating in a research report on Monday. Royal Bank Of Canada reiterated a “hold” rating and set a $13.00 price objective on shares of Archrock in a research report on Monday, May 15th. Scotiabank set a $16.00 price objective on shares of Archrock and gave the company a “hold” rating in a research report on Saturday, May 6th. BidaskClub cut shares of Archrock from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, FBR & Co reiterated a “market perform” rating and set a $12.00 price objective (up previously from $11.00) on shares of Archrock in a research report on Thursday, August 3rd.
Several hedge funds and other institutional investors have recently bought and sold shares of AROC. Teachers Advisors LLC boosted its position in Archrock by 42.1% in the fourth quarter. Teachers Advisors LLC now owns 188,483 shares of the energy company’s stock worth $2,488,000 after buying an additional 55,881 shares during the last quarter. Martingale Asset Management L P bought a new position in Archrock during the first quarter worth approximately $1,282,000. Vanguard Group Inc. boosted its position in Archrock by 12.1% in the first quarter. Vanguard Group Inc. now owns 8,047,378 shares of the energy company’s stock worth $99,787,000 after buying an additional 868,015 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Archrock by 20.9% in the first quarter. Russell Investments Group Ltd. now owns 221,011 shares of the energy company’s stock worth $2,741,000 after buying an additional 38,200 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in Archrock by 40.7% in the first quarter. Bank of Montreal Can now owns 43,378 shares of the energy company’s stock worth $539,000 after buying an additional 12,552 shares during the last quarter. Hedge funds and other institutional investors own 88.53% of the company’s stock.
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Archrock (NYSE AROC) traded down 5.18% during trading on Friday, hitting $9.15. 425,367 shares of the company traded hands. The company’s 50 day moving average is $10.98 and its 200-day moving average is $12.21. Archrock has a 52 week low of $9.10 and a 52 week high of $16.40. The stock’s market capitalization is $649.09 million.
Archrock (NYSE:AROC) last announced its quarterly earnings results on Tuesday, August 1st. The energy company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.08. Archrock had a negative net margin of 8.57% and a negative return on equity of 3.44%. The company had revenue of $198 million for the quarter, compared to analysts’ expectations of $196 million. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. Analysts predict that Archrock will post ($0.20) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 8th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date is Friday, August 4th.
Archrock, Inc is a natural gas contract operations services company. The Company also provides natural gas compression services to customers in the oil and natural gas industry throughout the United States and supplies aftermarket services to customers that own compression equipment in the United States.
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