Archrock, Inc. (NYSE:AROC – Get Free Report) declared a quarterly dividend on Thursday, January 25th, Wall Street Journal reports. Stockholders of record on Tuesday, February 6th will be given a dividend of 0.165 per share by the energy company on Tuesday, February 13th. This represents a $0.66 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Monday, February 5th. This is a positive change from Archrock’s previous quarterly dividend of $0.16.
Archrock has increased its dividend by an average of 1.7% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Archrock has a dividend payout ratio of 54.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Archrock to earn $0.91 per share next year, which means the company should continue to be able to cover its $0.62 annual dividend with an expected future payout ratio of 68.1%.
Archrock Price Performance
AROC opened at $16.26 on Friday. The stock has a fifty day moving average price of $15.24 and a 200 day moving average price of $13.61. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 1.86. Archrock has a 1 year low of $8.78 and a 1 year high of $16.85. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 2.60 and a beta of 1.57.
Institutional Investors Weigh In On Archrock
Several institutional investors and hedge funds have recently added to or reduced their stakes in AROC. Invesco Ltd. raised its position in shares of Archrock by 18.3% in the first quarter. Invesco Ltd. now owns 9,454,203 shares of the energy company’s stock valued at $87,262,000 after purchasing an additional 1,462,659 shares during the period. Norges Bank bought a new position in Archrock in the 4th quarter worth $11,380,000. Vanguard Group Inc. lifted its position in Archrock by 5.9% during the 3rd quarter. Vanguard Group Inc. now owns 17,248,507 shares of the energy company’s stock worth $110,735,000 after acquiring an additional 963,291 shares during the last quarter. State Street Corp boosted its holdings in Archrock by 17.8% during the first quarter. State Street Corp now owns 6,047,977 shares of the energy company’s stock valued at $55,823,000 after acquiring an additional 915,097 shares during the period. Finally, CIBC Private Wealth Group LLC grew its position in shares of Archrock by 320.4% in the third quarter. CIBC Private Wealth Group LLC now owns 1,051,007 shares of the energy company’s stock valued at $6,747,000 after purchasing an additional 801,007 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the stock. StockNews.com lowered shares of Archrock from a “buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. Raymond James raised their price target on shares of Archrock from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Tuesday, October 17th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.33.
Archrock Company Profile
Archrock, Inc, together with its subsidiaries, operates as an energy infrastructure company in the United States. It operates in two segments, Contract Operations and Aftermarket Services. The company engages in the designing, sourcing, owning, installing, operating, servicing, repairing, and maintaining its owned fleet of natural gas compression equipment to provide natural gas compression services to customers in the oil and natural gas industry.
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