Archrock (NYSE:AROC) Stock Gets Price Target Trim from JPMorgan Chase & Co.

Archrock (NYSE:AROC) had its price target decreased by JPMorgan Chase & Co. from $42.00 to $41.00 in a report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the energy company’s stock.

Several other equities research analysts also recently weighed in on the company. Evercore set a $40.00 price target on Archrock in a report on Monday, August 17th. Royal Bank Of Canada lifted their price objective on Archrock from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, August 17th. Wells Fargo & Company lowered their price objective on Archrock from $43.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Weiss Ratings lowered shares of Archrock from a “buy (a-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Finally, Zacks Research cut shares of Archrock from a “hold” rating to a “strong sell” rating in a report on Monday, August 31st. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.12.

Archrock Stock Down 0.2%

Archrock stock opened at $30.28 on Thursday. Archrock has a twelve month low of $22.88 and a twelve month high of $42.23. The stock’s fifty day simple moving average is $31.92 and its 200-day simple moving average is $35.08. The company has a current ratio of 1.39, a quick ratio of 0.94 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $5.31 billion, a P/E ratio of 16.28, a P/E/G ratio of 1.46 and a beta of 0.92.

Archrock (NYSE:AROC) last released its earnings results on Wednesday, August 5th. The energy company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). The company had revenue of $371.24 million during the quarter, compared to analysts’ expectations of $393.19 million. Archrock had a net margin of 21.84% and a return on equity of 22.22%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter last year, the business posted $0.39 earnings per share. As a group, equities analysts expect that Archrock will post 1.73 earnings per share for the current fiscal year.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, August 4th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.0%. This is a boost from Archrock’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Tuesday, August 4th. Archrock’s dividend payout ratio is currently 49.46%.

Institutional Trading of Archrock

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Archrock during the 2nd quarter worth about $1,217,511,000. Bank of America Corp DE purchased a new position in shares of Archrock in the 2nd quarter valued at about $262,070,000. Vaughan Nelson Investment Management L.P. raised its position in shares of Archrock by 6.5% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,502,235 shares of the energy company’s stock worth $87,078,000 after acquiring an additional 152,360 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Archrock during the second quarter worth approximately $84,463,000. Finally, Congress Asset Management Co. lifted its stake in Archrock by 14.4% during the third quarter. Congress Asset Management Co. now owns 2,532,464 shares of the energy company’s stock worth $76,708,000 after purchasing an additional 319,256 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

About Archrock

Archrock, Inc (NYSE: AROC) is a Houston-based provider of natural gas compression services and equipment. The company supports the production, gathering, processing, transportation and storage of natural gas by supplying compression infrastructure that helps maintain pressure and move gas through energy systems.

Archrock’s principal business is contract compression, in which it owns and operates a fleet of natural gas compressors and provides them to customers under service agreements.