Zacks Investment Research lowered shares of Archrock, Inc. (NYSE:AROC) from a hold rating to a sell rating in a research report sent to investors on Monday morning.
According to Zacks, “Archrock, Inc. is a provider of natural gas contract compression services as well as supplier of aftermarket services of compression equipment. The company operates in the oil and gas producing regions primarily in the United States. Archrock, Inc., formerly known as Exterran Holdings, Inc., is based in Houston, United States. “
A number of other research firms also recently issued reports on AROC. Simmons lifted their price objective on shares of Archrock from $14.25 to $14.75 and gave the company a neutral rating in a report on Tuesday, April 11th. BidaskClub upgraded shares of Archrock from a hold rating to a buy rating in a report on Wednesday, July 19th. Royal Bank Of Canada reiterated a hold rating and issued a $15.00 price objective on shares of Archrock in a report on Friday, April 21st. Scotiabank set a $16.00 price objective on shares of Archrock and gave the company a hold rating in a report on Saturday, May 6th. Finally, FBR & Co reiterated 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. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. Archrock has a consensus rating of Hold and an average price target of $13.29.
Shares of Archrock (NYSE:AROC) opened at 9.95 on Monday. The firm has a 50-day moving average of $10.99 and a 200 day moving average of $12.23. The company’s market capitalization is $705.84 million. Archrock has a 52-week low of $9.60 and a 52-week high of $16.40.
Archrock (NYSE:AROC) last posted its quarterly earnings data on Tuesday, August 1st. The energy company reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.08. Archrock had a negative net margin of 8.57% and a negative return on equity of 3.44%. The company had revenue of $198 million for the quarter, compared to the consensus estimate of $196 million. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, analysts anticipate that Archrock will post ($0.11) EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 8th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, August 4th. This represents a $0.48 dividend on an annualized basis and a yield of 4.82%.
Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in shares of Archrock by 50.3% in the first quarter. Bank of New York Mellon Corp now owns 1,978,588 shares of the energy company’s stock worth $24,535,000 after buying an additional 662,512 shares during the last quarter. American Century Companies Inc. increased its position in shares of Archrock by 0.5% in the first quarter. American Century Companies Inc. now owns 511,643 shares of the energy company’s stock worth $6,344,000 after buying an additional 2,307 shares during the last quarter. Algert Global LLC purchased a new position in shares of Archrock during the first quarter worth $1,465,000. State Board of Administration of Florida Retirement System increased its position in shares of Archrock by 48.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 79,063 shares of the energy company’s stock worth $980,000 after buying an additional 25,981 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of Archrock by 5.8% in the first quarter. Great West Life Assurance Co. Can now owns 95,994 shares of the energy company’s stock worth $1,185,000 after buying an additional 5,302 shares during the last quarter. Institutional investors and hedge funds own 88.53% of the company’s stock.
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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