Archrock (NYSE:AROC) Reaches New 12-Month High – Time to Buy?

Archrock, Inc. (NYSE:AROC) reached a new 52-week high on Tuesday . The stock traded as high as $32.87 and last traded at $32.34, with a volume of 1971861 shares traded. The stock had previously closed at $32.05.

Analyst Ratings Changes

AROC has been the subject of a number of recent analyst reports. Evercore upped their target price on Archrock from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Archrock in a research report on Wednesday, January 21st. Zacks Research raised shares of Archrock from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Finally, Royal Bank Of Canada boosted their price target on shares of Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $32.40.

Archrock Stock Up 0.9%

The company has a quick ratio of 1.01, a current ratio of 1.56 and a debt-to-equity ratio of 1.80. The company’s fifty day moving average price is $26.79 and its 200-day moving average price is $25.25. The stock has a market capitalization of $5.67 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 1.37 and a beta of 0.93.

Archrock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 18th. Investors of record on Tuesday, February 10th will be given a dividend of $0.22 per share. This is a positive change from Archrock’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $0.88 annualized dividend and a yield of 2.7%. Archrock’s payout ratio is currently 56.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AROC. Invesco Ltd. raised its holdings in Archrock by 1.4% in the 2nd quarter. Invesco Ltd. now owns 9,080,037 shares of the energy company’s stock worth $225,457,000 after acquiring an additional 128,141 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Archrock by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,722,072 shares of the energy company’s stock valued at $176,858,000 after purchasing an additional 207,978 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Archrock by 3.3% in the 3rd quarter. American Century Companies Inc. now owns 6,077,999 shares of the energy company’s stock worth $159,912,000 after purchasing an additional 191,914 shares in the last quarter. Sei Investments Co. raised its stake in shares of Archrock by 3.5% in the third quarter. Sei Investments Co. now owns 5,499,093 shares of the energy company’s stock worth $144,681,000 after purchasing an additional 187,252 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Archrock by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 4,163,783 shares of the energy company’s stock valued at $108,359,000 after purchasing an additional 84,715 shares in the last quarter. Institutional investors own 95.45% of the company’s stock.

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.