Archrock (NYSE:AROC) Reaches New 1-Year High – Time to Buy?

Shares of Archrock, Inc. (NYSE:AROC) reached a new 52-week high during trading on Tuesday . The company traded as high as $33.03 and last traded at $32.4160, with a volume of 30694 shares. The stock had previously closed at $32.66.

Wall Street Analyst Weigh In

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

Archrock Trading Up 1.9%

The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.01 and a current ratio of 1.56. The business’s 50 day moving average price is $27.84 and its 200-day moving average price is $25.69. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 1.40 and a beta of 0.93.

Archrock Increases Dividend

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

Hedge Funds Weigh In On Archrock

Several institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its position in Archrock by 0.7% in the first quarter. Royal Bank of Canada now owns 95,866 shares of the energy company’s stock worth $2,514,000 after buying an additional 667 shares during the period. Jones Financial Companies Lllp grew its position in shares of Archrock by 217.9% during the first quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company’s stock worth $35,000 after acquiring an additional 902 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Archrock by 8.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 20,574 shares of the energy company’s stock worth $511,000 after acquiring an additional 1,617 shares during the period. Bernzott Capital Advisors lifted its position in Archrock by 1,066.8% in the 2nd quarter. Bernzott Capital Advisors now owns 179,626 shares of the energy company’s stock valued at $4,460,000 after purchasing an additional 164,231 shares during the last quarter. Finally, First Citizens Bank & Trust Co. lifted its position in Archrock by 183.8% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 28,545 shares of the energy company’s stock valued at $709,000 after purchasing an additional 18,488 shares during the last quarter. 95.45% of the stock is owned by institutional investors.

Archrock Company Profile

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.