Stifel Nicolaus Raises Archrock (NYSE:AROC) Price Target to $23.00

Archrock (NYSE:AROC) had its price target hoisted by Stifel Nicolaus from $20.00 to $23.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the energy company’s stock.

Separately, Royal Bank of Canada upped their price objective on shares of Archrock from $20.00 to $21.00 and gave the company an outperform rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $19.67.

Archrock Stock Up 0.9 %

AROC stock opened at $20.21 on Thursday. The company has a 50-day moving average of $19.38 and a two-hundred day moving average of $16.51. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 24.34, a price-to-earnings-growth ratio of 2.79 and a beta of 1.58. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.26 and a quick ratio of 0.86. Archrock has a 52-week low of $8.92 and a 52-week high of $21.40.

Archrock (NYSE:AROC) last announced its quarterly earnings data on Wednesday, May 1st. The energy company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The business had revenue of $268.49 million during the quarter, compared to analyst estimates of $260.51 million. Archrock had a net margin of 12.54% and a return on equity of 15.30%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 earnings per share. As a group, equities research analysts anticipate that Archrock will post 1.02 EPS for the current year.

Archrock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, May 7th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Monday, May 6th. Archrock’s dividend payout ratio is 79.52%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC raised its stake in shares of Archrock by 9.0% in the first quarter. Janney Montgomery Scott LLC now owns 13,065 shares of the energy company’s stock valued at $257,000 after acquiring an additional 1,079 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Archrock by 3.5% in the fourth quarter. Arizona State Retirement System now owns 41,562 shares of the energy company’s stock valued at $640,000 after acquiring an additional 1,408 shares during the last quarter. Yousif Capital Management LLC raised its stake in shares of Archrock by 2.3% in the fourth quarter. Yousif Capital Management LLC now owns 69,907 shares of the energy company’s stock valued at $1,077,000 after acquiring an additional 1,582 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Archrock by 6.1% in the fourth quarter. Van ECK Associates Corp now owns 28,113 shares of the energy company’s stock valued at $433,000 after acquiring an additional 1,624 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Archrock by 10.3% in the third quarter. PNC Financial Services Group Inc. now owns 17,633 shares of the energy company’s stock valued at $222,000 after acquiring an additional 1,650 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.

Archrock Company Profile

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.