Archrock (NYSE:AROC) Shares Gap Up Following Earnings Beat

Archrock, Inc. (NYSE:AROC) gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $19.19, but opened at $20.39. Archrock shares last traded at $19.48, with a volume of 190,967 shares changing hands.

The energy company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. The business had revenue of $268.49 million for the quarter, compared to analyst estimates of $260.51 million. Archrock had a net margin of 10.60% and a return on equity of 12.63%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 EPS.

Archrock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.66 annualized dividend and a dividend yield of 3.45%. Archrock’s payout ratio is 98.51%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada boosted their price objective on shares of Archrock from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $17.67.

Institutional Investors Weigh In On Archrock

A number of institutional investors have recently modified their holdings of the business. Arizona State Retirement System grew its position in shares of Archrock by 3.5% during the 4th quarter. Arizona State Retirement System now owns 41,562 shares of the energy company’s stock valued at $640,000 after buying an additional 1,408 shares during the last quarter. Yousif Capital Management LLC grew its position in Archrock by 2.3% in the 4th quarter. Yousif Capital Management LLC now owns 69,907 shares of the energy company’s stock worth $1,077,000 after purchasing an additional 1,582 shares during the last quarter. Van ECK Associates Corp grew its position in Archrock by 6.1% in the 4th quarter. Van ECK Associates Corp now owns 28,113 shares of the energy company’s stock worth $433,000 after purchasing an additional 1,624 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Archrock by 10.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 17,633 shares of the energy company’s stock worth $222,000 after purchasing an additional 1,650 shares during the last quarter. Finally, USA Financial Formulas grew its position in Archrock by 4,483.8% in the 4th quarter. USA Financial Formulas now owns 1,696 shares of the energy company’s stock worth $26,000 after purchasing an additional 1,659 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.

Archrock Trading Down 0.2 %

The firm’s 50-day simple moving average is $19.30 and its 200 day simple moving average is $16.41. The stock has a market cap of $2.99 billion, a P/E ratio of 28.72, a PEG ratio of 2.90 and a beta of 1.59. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.82.

About Archrock

Archrock, Inc, together with its subsidiaries, operates as an energy infrastructure company in the United States. The company operates in two segments, Contract Operations and Aftermarket Services. It engages in the designing, sourcing, owning, installing, operating, servicing, repairing, and maintaining of its owned fleet of natural gas compression equipment to provide natural gas compression services.