Archrock (AROC) Trading 5.9% Higher

Shares of Archrock Inc (NYSE:AROC) traded up 5.9% during mid-day trading on Tuesday . The stock traded as high as $10.46 and last traded at $10.41. 1,690,300 shares were traded during trading, an increase of 21% from the average session volume of 1,395,750 shares. The stock had previously closed at $9.83.

Several analysts recently issued reports on the stock. Royal Bank of Canada reiterated a “buy” rating and set a $16.00 price target on shares of Archrock in a research report on Friday, August 3rd. B. Riley set a $16.00 price target on shares of Archrock and gave the stock a “buy” rating in a research report on Sunday, October 7th. Piper Jaffray Companies set a $14.00 price target on shares of Archrock and gave the stock a “buy” rating in a research report on Thursday, October 18th. TheStreet upgraded shares of Archrock from a “d+” rating to a “c-” rating in a research report on Wednesday, August 1st. Finally, Zacks Investment Research upgraded shares of Archrock from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Tuesday, October 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Archrock currently has a consensus rating of “Buy” and an average price target of $14.00.

The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 1.76. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 983.00 and a beta of 2.86.

Archrock (NYSE:AROC) last issued its earnings results on Thursday, August 2nd. The energy company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Archrock had a net margin of 4.19% and a return on equity of 0.45%. The firm had revenue of $226.87 million for the quarter, compared to analyst estimates of $216.63 million. As a group, equities research analysts forecast that Archrock Inc will post 0.3 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, November 7th will be paid a dividend of $0.132 per share. This represents a $0.53 annualized dividend and a dividend yield of 5.07%. The ex-dividend date is Tuesday, November 6th. Archrock’s payout ratio is currently -265.00%.

In other Archrock news, CFO Doug S. Aron purchased 10,000 shares of the company’s stock in a transaction dated Friday, August 17th. The stock was purchased at an average price of $11.92 per share, with a total value of $119,200.00. Following the completion of the purchase, the chief financial officer now owns 49,215 shares of the company’s stock, valued at $586,642.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.54% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Archrock during the second quarter valued at $523,000. Flinton Capital Management LLC raised its stake in shares of Archrock by 90.0% during the second quarter. Flinton Capital Management LLC now owns 25,976 shares of the energy company’s stock valued at $312,000 after acquiring an additional 12,308 shares during the last quarter. Texas Permanent School Fund raised its stake in shares of Archrock by 77.7% during the second quarter. Texas Permanent School Fund now owns 83,455 shares of the energy company’s stock valued at $1,001,000 after acquiring an additional 36,486 shares during the last quarter. Pinebridge Investments L.P. raised its stake in shares of Archrock by 89.0% during the second quarter. Pinebridge Investments L.P. now owns 192,032 shares of the energy company’s stock valued at $2,304,000 after acquiring an additional 90,403 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Archrock by 48.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,140,544 shares of the energy company’s stock valued at $13,687,000 after acquiring an additional 373,219 shares during the last quarter. 88.85% of the stock is owned by hedge funds and other institutional investors.

About Archrock (NYSE:AROC)

Archrock, Inc engages in the natural gas contract operations services business in the United States. The company provides natural gas compression services to customers in the oil and natural gas industry. It also offers aftermarket services, such as parts and components; and operation, maintenance, overhaul, and reconfiguration services to customers who own compression equipment.

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