Archrock, Inc. (NYSE:AROC) Sets New 1-Year Low at $9.53
Archrock, Inc. (NYSE:AROC) shares reached a new 52-week low during trading on Friday . The stock traded as low as $9.53 and last traded at $9.50, with a volume of 217,181 shares. The stock had previously closed at $9.65.
Several research firms recently commented on AROC. BidaskClub downgraded shares of Archrock from a “hold” rating to a “sell” rating in a report on Friday. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $12.00 price objective (down from $13.00) on shares of Archrock in a report on Tuesday. Zacks Investment Research downgraded shares of Archrock from a “hold” rating to a “sell” rating in a report on Monday. FBR & Co reaffirmed a “market perform” rating and issued a $12.00 price objective (up from $11.00) on shares of Archrock in a report on Thursday, August 3rd. Finally, Scotiabank set a $15.00 price objective on shares of Archrock and gave the stock a “hold” rating in a report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Archrock currently has a consensus rating of “Hold” and an average target price of $13.29.
The company has a 50-day moving average of $10.98 and a 200-day moving average of $12.21. The firm’s market capitalization is $673.92 million.
Archrock (NYSE:AROC) last posted its quarterly earnings results on Tuesday, August 1st. The energy company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.08. The business had revenue of $198 million during the quarter, compared to analyst estimates of $196 million. Archrock had a negative net margin of 8.57% and a negative return on equity of 3.44%. Archrock’s revenue was up 4.2% on a year-over-year basis. On average, analysts predict that Archrock, Inc. will post ($0.20) earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 8th will be given a $0.12 dividend. The ex-dividend date is Friday, August 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.97%.
Several institutional investors have recently bought and sold shares of the company. Teachers Advisors LLC raised 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 purchased a new position in Archrock during the first quarter worth $1,282,000. Vanguard Group Inc. raised 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. raised 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 raised 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. Institutional investors and hedge funds own 88.53% of the company’s stock.
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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