Archrock (NYSE:AROC) Announces Earnings Results

Archrock (NYSE:AROC) posted its quarterly earnings results on Tuesday. The energy company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.29, Zacks reports. Archrock had a net margin of 18.43% and a return on equity of 20.17%.

Archrock Stock Performance

Shares of Archrock stock traded up $0.92 during trading hours on Tuesday, reaching $33.74. The company had a trading volume of 1,318,173 shares, compared to its average volume of 1,528,892. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.56 and a quick ratio of 1.01. Archrock has a one year low of $20.12 and a one year high of $33.82. The firm has a market cap of $5.92 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 1.41 and a beta of 0.93. The business has a fifty day simple moving average of $28.24 and a 200 day simple moving average of $25.93.

Archrock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Tuesday, February 10th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.6%. This is a boost from Archrock’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 10th. Archrock’s payout ratio is currently 58.67%.

Hedge Funds Weigh In On Archrock

Several institutional investors and hedge funds have recently bought and sold shares of AROC. Daiwa Securities Group Inc. grew its holdings in shares of Archrock by 19.8% during the second quarter. Daiwa Securities Group Inc. now owns 9,700 shares of the energy company’s stock worth $241,000 after purchasing an additional 1,600 shares during the last quarter. Vident Advisory LLC raised its position in shares of Archrock by 11.9% in the fourth quarter. Vident Advisory LLC now owns 9,206 shares of the energy company’s stock valued at $240,000 after buying an additional 980 shares during the last quarter. Osaic Holdings Inc. boosted its position in shares of Archrock by 19.3% in the second quarter. Osaic Holdings Inc. now owns 9,293 shares of the energy company’s stock worth $231,000 after acquiring an additional 1,503 shares during the last quarter. Ieq Capital LLC purchased a new position in Archrock in the fourth quarter valued at approximately $221,000. Finally, Brooklyn Investment Group lifted its position in Archrock by 799.8% during the 3rd quarter. Brooklyn Investment Group now owns 8,332 shares of the energy company’s stock worth $219,000 after acquiring an additional 7,406 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AROC shares. Royal Bank Of Canada increased their price objective on shares of Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Archrock in a research note on Wednesday, January 21st. Evercore lifted their price objective on shares of Archrock from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Finally, Zacks Research raised shares of Archrock from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $32.40.

About Archrock

Archrock, Inc is a Houston‐based provider of natural gas compression services and equipment to the oil and gas industry in North America. Founded in 2004, the company supplies both short‐term rentals and long‐term contracts for compression solutions, serving upstream and midstream producers. Archrock’s offerings include engineered compression systems, aftermarket parts, maintenance and field services designed to optimize wellhead and pipeline operations.

The company’s core business activities focus on the design, manufacture, rental and sale of gas compression equipment.