Archrock, Inc. (AROC) Upgraded at BidaskClub
BidaskClub upgraded shares of Archrock, Inc. (NYSE:AROC) from a sell rating to a hold rating in a research report sent to investors on Wednesday.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Archrock from a hold rating to a sell rating in a report on Monday, August 7th. Royal Bank Of Canada upgraded shares of Archrock from a sector perform rating to an outperform rating in a report on Wednesday, August 23rd. Scotiabank set a $15.00 price target on shares of Archrock and gave the stock a hold rating in a report on Tuesday, June 20th. ValuEngine cut shares of Archrock from a hold rating to a sell rating in a report on Saturday, August 12th. Finally, J P Morgan Chase & Co restated a neutral rating and set a $12.00 price target (down from $13.00) on shares of Archrock in a report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Archrock presently has a consensus rating of Hold and a consensus target price of $13.29.
Shares of Archrock (NYSE:AROC) opened at 10.70 on Wednesday. The company has a 50-day moving average of $10.25 and a 200 day moving average of $11.45. The firm’s market capitalization is $759.05 million. Archrock has a 52 week low of $8.30 and a 52 week high of $16.40.
Archrock (NYSE:AROC) last released its quarterly earnings results on Tuesday, August 1st. The energy company reported ($0.03) earnings per share for the quarter, topping the 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 business had revenue of $198 million for the quarter, compared to analysts’ expectations of $196 million. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts anticipate that Archrock will post ($0.20) earnings per share for the current year.
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The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 8th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date was Friday, August 4th.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AROC. BlackRock Inc. boosted its stake in Archrock by 51,362.3% in the first quarter. BlackRock Inc. now owns 9,155,144 shares of the energy company’s stock valued at $113,523,000 after acquiring an additional 9,137,354 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Archrock by 98.3% in the second quarter. JPMorgan Chase & Co. now owns 2,970,711 shares of the energy company’s stock valued at $33,865,000 after acquiring an additional 1,472,445 shares during the last quarter. Vanguard Group Inc. boosted its stake in Archrock by 12.1% in the first quarter. Vanguard Group Inc. now owns 8,047,378 shares of the energy company’s stock valued at $99,787,000 after acquiring an additional 868,015 shares during the last quarter. FMR LLC purchased a new position in Archrock in the first quarter valued at about $10,635,000. Finally, Bank of New York Mellon Corp boosted its stake in 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 valued at $24,535,000 after acquiring an additional 662,512 shares during the last quarter. Hedge funds and other institutional investors own 91.86% of the company’s stock.
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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