Archrock Inc. (AROC) Lifted to Overweight at Capital One Financial Corp.
AROC has been the subject of a number of other research reports. RBC Capital Markets raised shares of Archrock from an underperform rating to a sector perform rating and upped their price objective for the company from $4.00 to $10.00 in a report on Friday, August 5th. Piper Jaffray Cos. started coverage on shares of Archrock in a report on Monday, August 22nd. They issued a neutral rating for the company. Zacks Investment Research lowered shares of Archrock from a buy rating to a hold rating in a report on Wednesday, October 5th. Simmons started coverage on shares of Archrock in a report on Monday, August 22nd. They issued a neutral rating and a $12.25 price objective for the company. Finally, FBR & Co set a $11.00 price objective on shares of Archrock and gave the company a hold rating in a report on Friday, August 5th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $10.97.
Shares of Archrock (NYSE:AROC) opened at 12.85 on Monday. Archrock has a one year low of $3.41 and a one year high of $13.62. The company’s market cap is $879.90 million. The company’s 50-day moving average is $12.26 and its 200-day moving average is $10.14.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 17th. Investors of record on Thursday, November 10th will be issued a $0.12 dividend. This is a boost from Archrock’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.48 annualized dividend and a yield of 3.74%. Archrock’s dividend payout ratio (DPR) is -30.77%.
A number of hedge funds have recently added to or reduced their stakes in AROC. Stifel Financial Corp bought a new stake in Archrock during the second quarter worth $108,000. Engineers Gate Manager LP bought a new stake in Archrock during the third quarter worth $170,000. Mason Street Advisors LLC bought a new stake in Archrock during the second quarter worth $128,000. Brandes Investment Partners LP bought a new stake in Archrock during the third quarter worth $182,000. Finally, Legal & General Group Plc boosted its stake in Archrock by 22.7% in the second quarter. Legal & General Group Plc now owns 14,762 shares of the company’s stock worth $136,000 after buying an additional 2,733 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.
Archrock Company Profile
Archrock, Inc, formerly Exterran Holdings, 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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