Royal Bank of Canada reissued their hold rating on shares of Archrock Inc (NYSE:AROC) in a research report report published on Friday, May 5th. They currently have a $13.00 target price on the energy company’s stock.
Other analysts have also recently issued reports about the company. Scotiabank reiterated a hold rating and issued a $16.00 target price on shares of Archrock in a report on Friday, March 31st. Zacks Investment Research lowered Archrock from a hold rating to a sell rating in a research note on Monday, May 1st. Simmons boosted their price target on Archrock from $14.25 to $14.75 and gave the company a neutral rating in a research note on Tuesday, April 11th. Finally, JPMorgan Chase & Co. assumed coverage on Archrock in a research note on Friday, January 6th. They issued a neutral rating and a $13.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $13.25.
Archrock (NYSE:AROC) traded up 2.78% on Friday, reaching $11.10. 569,042 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $11.98 and a 200-day moving average of $13.24. The firm’s market capitalization is $787.87 million. Archrock has a 12 month low of $6.50 and a 12 month high of $16.40.
Archrock (NYSE:AROC) last released its quarterly earnings results on Thursday, May 4th. The energy company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.06. The firm had revenue of $189.90 million for the quarter, compared to the consensus estimate of $191.30 million. Archrock had a negative return on equity of 1.48% and a negative net margin of 17.11%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities analysts expect that Archrock will post ($0.44) earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 16th. Stockholders of record on Tuesday, May 9th were given a $0.12 dividend. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.32%. Archrock’s dividend payout ratio is currently -30.77%.
In other Archrock news, CFO David S. Miller sold 3,265 shares of Archrock stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $13.23, for a total transaction of $43,195.95. Following the completion of the transaction, the chief financial officer now owns 123,971 shares in the company, valued at $1,640,136.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider D Bradley Childers sold 18,488 shares of Archrock stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $13.23, for a total value of $244,596.24. Following the transaction, the insider now owns 647,986 shares of the company’s stock, valued at approximately $8,572,854.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,694 shares of company stock worth $353,076. Corporate insiders own 2.60% of the company’s stock.
Hedge funds have recently modified their holdings of the company. New York State Teachers Retirement System raised its stake in shares of Archrock by 4.9% in the fourth quarter. New York State Teachers Retirement System now owns 143,802 shares of the energy company’s stock valued at $1,898,000 after buying an additional 6,700 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Archrock by 0.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 703,878 shares of the energy company’s stock valued at $9,291,000 after buying an additional 2,110 shares during the last quarter. Weiss Asset Management LP bought a new stake in Archrock during the third quarter valued at about $198,000. William Blair Investment Management LLC raised its stake in Archrock by 17.2% in the fourth quarter. William Blair Investment Management LLC now owns 1,209,603 shares of the energy company’s stock valued at $15,967,000 after buying an additional 177,263 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in Archrock during the fourth quarter valued at about $2,441,000. 89.93% of the stock is owned by institutional investors.
Archrock Company Profile
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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