Archrock (NYSE:AROC) Price Target Raised to $38.00

Archrock (NYSE:AROC) had its price target hoisted by Mizuho from $32.00 to $38.00 in a research note released on Thursday,Benzinga reports. The firm currently has an outperform rating on the energy company’s stock.

AROC has been the topic of several other reports. Dawson James reiterated an “outperform” rating on shares of Archrock in a report on Wednesday, February 25th. Wells Fargo & Company raised their price objective on shares of Archrock from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, March 13th. Raymond James Financial restated an “outperform” rating and set a $40.00 target price on shares of Archrock in a research report on Wednesday, February 25th. Zacks Research raised Archrock from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Finally, Citigroup increased their price target on Archrock from $31.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $39.00.

Archrock Stock Up 0.1%

NYSE AROC opened at $34.69 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.54 and a debt-to-equity ratio of 1.62. Archrock has a 52 week low of $20.12 and a 52 week high of $37.72. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 1.44 and a beta of 0.91. The company has a fifty day moving average of $33.74 and a two-hundred day moving average of $28.19.

Archrock (NYSE:AROC) last announced its earnings results on Wednesday, February 25th. The energy company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.29. The business had revenue of $377.07 million for the quarter, compared to the consensus estimate of $378.04 million. Archrock had a net margin of 21.63% and a return on equity of 23.57%. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 earnings per share. On average, analysts predict that Archrock will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Tuesday, February 10th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $0.88 annualized dividend and a yield of 2.5%. This is a boost from Archrock’s previous quarterly dividend of $0.21. Archrock’s payout ratio is 48.09%.

Insider Transactions at Archrock

In related news, CFO Doug S. Aron sold 98,050 shares of Archrock stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $34.76, for a total transaction of $3,408,218.00. Following the completion of the sale, the chief financial officer owned 484,337 shares in the company, valued at $16,835,554.12. This trade represents a 16.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Donna A. Henderson sold 10,413 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $36.74, for a total transaction of $382,573.62. Following the completion of the sale, the chief accounting officer directly owned 27,757 shares of the company’s stock, valued at approximately $1,019,792.18. This trade represents a 27.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 179,963 shares of company stock valued at $6,336,907 in the last quarter. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Archrock

A number of large investors have recently modified their holdings of the company. American Century Companies Inc. lifted its holdings in shares of Archrock by 3.3% in the 3rd quarter. American Century Companies Inc. now owns 6,077,999 shares of the energy company’s stock worth $159,912,000 after buying an additional 191,914 shares during the period. Allianz Asset Management GmbH increased its stake in shares of Archrock by 19.8% during the third quarter. Allianz Asset Management GmbH now owns 264,991 shares of the energy company’s stock valued at $6,972,000 after buying an additional 43,872 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Archrock by 55.1% in the second quarter. Hsbc Holdings PLC now owns 121,089 shares of the energy company’s stock valued at $3,049,000 after acquiring an additional 43,023 shares in the last quarter. Bernzott Capital Advisors raised its holdings in shares of Archrock by 62.3% in the third quarter. Bernzott Capital Advisors now owns 291,534 shares of the energy company’s stock valued at $7,670,000 after acquiring an additional 111,908 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Archrock in the third quarter worth about $1,657,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Archrock Company Profile

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.