Archrock (NYSE:AROC) Stock Price Down 5%

Archrock Inc (NYSE:AROC)’s stock price dropped 5% during mid-day trading on Thursday . The stock traded as low as $10.36 and last traded at $10.43, approximately 797,112 shares changed hands during trading. A decline of 5% from the average daily volume of 842,484 shares. The stock had previously closed at $10.98.

AROC has been the subject of several research analyst reports. ValuEngine downgraded shares of Archrock from a “hold” rating to a “sell” rating in a report on Tuesday, April 30th. B. Riley set a $17.00 price target on shares of Archrock and gave the stock a “buy” rating in a report on Tuesday, June 11th. Finally, Zacks Investment Research downgraded shares of Archrock from a “buy” rating to a “hold” rating in a report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $14.75.

The company has a market cap of $1.43 billion, a price-to-earnings ratio of 21.48 and a beta of 2.78. The stock’s fifty day simple moving average is $10.24. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.52 and a quick ratio of 0.95.

Archrock (NYSE:AROC) last posted its quarterly earnings data on Monday, July 29th. The energy company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.04). The company had revenue of $238.39 million during the quarter, compared to analyst estimates of $249.35 million. Archrock had a net margin of 5.73% and a return on equity of 6.96%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.02 earnings per share. As a group, analysts predict that Archrock Inc will post 0.59 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th will be issued a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 5.63%. This is an increase from Archrock’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, August 6th. Archrock’s dividend payout ratio is presently 110.42%.

A number of hedge funds and other institutional investors have recently bought and sold shares of AROC. Chicago Equity Partners LLC boosted its holdings in Archrock by 12.4% in the 2nd quarter. Chicago Equity Partners LLC now owns 159,930 shares of the energy company’s stock worth $1,695,000 after buying an additional 17,675 shares during the period. Swiss National Bank boosted its holdings in Archrock by 3.0% in the 2nd quarter. Swiss National Bank now owns 242,700 shares of the energy company’s stock worth $2,573,000 after buying an additional 7,000 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Archrock by 16.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 85,937 shares of the energy company’s stock worth $911,000 after buying an additional 12,356 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in Archrock by 42.9% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 1,770,631 shares of the energy company’s stock worth $18,769,000 after buying an additional 531,128 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its holdings in Archrock by 29.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 49,700 shares of the energy company’s stock worth $527,000 after buying an additional 11,360 shares during the period. Institutional investors and hedge funds own 87.25% of the company’s stock.

About Archrock (NYSE:AROC)

Archrock, Inc engages in the provision of operations, maintenance, service, and equipment for oil and natural gas production, processing, and transportation applications. It operates through the Contract Operations and Aftermarket Services segments. The Contract Operations segment is comprised of equity investment in the partnership, in addition to the owned fleet of natural gas compression equipment that the company use to provide operations services.

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