Archrock, Inc. (NYSE:AROC) Sees Significant Drop in Short Interest

Archrock, Inc. (NYSE:AROC) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 5,570,000 shares, a drop of 7.5% from the November 15th total of 6,020,000 shares. Based on an average daily volume of 1,290,000 shares, the short-interest ratio is presently 4.3 days. Currently, 3.8% of the company’s stock are sold short.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. acquired a new stake in Archrock in the 3rd quarter valued at about $28,000. Wolff Wiese Magana LLC bought a new stake in shares of Archrock in the 3rd quarter worth approximately $30,000. Continuum Advisory LLC lifted its stake in Archrock by 5,621.6% during the third quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company’s stock valued at $43,000 after purchasing an additional 2,080 shares during the last quarter. Millburn Ridgefield Corp bought a new stake in Archrock during the third quarter worth approximately $50,000. Finally, Quarry LP bought a new stake in Archrock during the second quarter worth approximately $52,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AROC shares. JPMorgan Chase & Co. boosted their price target on Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, November 29th. Mizuho began coverage on shares of Archrock in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 target price for the company. Evercore ISI began coverage on shares of Archrock in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price target on the stock. Royal Bank of Canada lifted their price target on shares of Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Finally, Citigroup began coverage on shares of Archrock in a report on Friday, September 27th. They issued a “buy” rating and a $24.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Archrock presently has a consensus rating of “Moderate Buy” and an average target price of $25.17.

Archrock Trading Down 2.3 %

Archrock stock opened at $25.59 on Wednesday. Archrock has a 52-week low of $14.39 and a 52-week high of $27.05. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $4.48 billion, a price-to-earnings ratio of 28.12 and a beta of 1.59. The firm has a 50-day moving average price of $23.09 and a two-hundred day moving average price of $21.14.

Archrock (NYSE:AROC) last issued its quarterly earnings data on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The business had revenue of $292.16 million during the quarter, compared to analyst estimates of $286.19 million. During the same period in the prior year, the company posted $0.20 EPS. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. Sell-side analysts expect that Archrock will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were paid a dividend of $0.175 per share. This is a boost from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, November 6th. This represents a $0.70 annualized dividend and a yield of 2.74%. Archrock’s dividend payout ratio (DPR) is presently 76.92%.

About Archrock

Archrock, Inc, together with its subsidiaries, operates as an energy infrastructure company in the United States. The company operates in two segments, Contract Operations and Aftermarket Services. It engages in the designing, sourcing, owning, installing, operating, servicing, repairing, and maintaining of its owned fleet of natural gas compression equipment to provide natural gas compression services.