Archrock, Inc. (NYSE:AROC – Get Free Report) was the target of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 4,770,000 shares, an increase of 5.5% from the November 15th total of 4,520,000 shares. Based on an average daily trading volume, of 1,170,000 shares, the short-interest ratio is currently 4.1 days. Currently, 3.6% of the shares of the company are sold short.
Institutional Trading of Archrock
Institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC grew its holdings in Archrock by 70.6% during the 2nd quarter. Parallel Advisors LLC now owns 2,921 shares of the energy company’s stock worth $30,000 after acquiring an additional 1,209 shares during the period. Russell Investments Group Ltd. bought a new stake in Archrock in the 1st quarter valued at about $31,000. Tower Research Capital LLC TRC raised its stake in Archrock by 184.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 3,913 shares of the energy company’s stock worth $38,000 after buying an additional 2,539 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Archrock by 79.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,989 shares of the energy company’s stock worth $51,000 after acquiring an additional 2,206 shares in the last quarter. Finally, Great Waters Wealth Management acquired a new stake in Archrock in the second quarter valued at approximately $102,000. 81.53% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have recently issued reports on AROC. Raymond James boosted their price objective on Archrock from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Tuesday, October 17th. StockNews.com cut Archrock from a “buy” rating to a “hold” rating in a research note on Wednesday, November 22nd. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.33.
Archrock Stock Up 0.5 %
NYSE AROC opened at $15.01 on Friday. The business has a fifty day moving average price of $13.79 and a two-hundred day moving average price of $12.29. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.41 and a quick ratio of 0.86. Archrock has a fifty-two week low of $7.96 and a fifty-two week high of $15.15. The stock has a market capitalization of $2.34 billion, a PE ratio of 28.32, a PEG ratio of 3.14 and a beta of 1.70.
Archrock (NYSE:AROC – Get Free Report) last released its earnings results on Wednesday, November 1st. The energy company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. The firm had revenue of $253.37 million during the quarter, compared to analysts’ expectations of $252.04 million. Archrock had a return on equity of 10.04% and a net margin of 8.68%. Equities analysts expect that Archrock will post 0.67 earnings per share for the current fiscal year.
Archrock Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, November 7th were issued a $0.155 dividend. The ex-dividend date was Monday, November 6th. This represents a $0.62 dividend on an annualized basis and a yield of 4.13%. Archrock’s payout ratio is 116.98%.
About Archrock
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.