Archrock Inc (NYSE:AROC) announced a quarterly dividend on Friday, October 26th, Wall Street Journal reports. Investors of record on Wednesday, November 7th will be given a dividend of 0.132 per share by the energy company on Wednesday, November 14th. This represents a $0.53 annualized dividend and a yield of 4.98%. The ex-dividend date is Tuesday, November 6th.
Archrock has a payout ratio of 220.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Archrock to earn $0.52 per share next year, which means the company may not be able to cover its $0.53 annual dividend with an expected future payout ratio of 101.9%.
AROC stock opened at $10.60 on Monday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.98 and a current ratio of 1.46. Archrock has a 12-month low of $8.25 and a 12-month high of $13.75. The stock has a market capitalization of $1.37 billion, a P/E ratio of -53.00 and a beta of 2.84.
Archrock (NYSE:AROC) last posted its quarterly earnings data on Wednesday, October 31st. The energy company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.02. Archrock had a return on equity of 2.49% and a net margin of 6.32%. The company had revenue of $232.37 million for the quarter, compared to analysts’ expectations of $226.19 million. During the same period in the previous year, the firm posted ($0.09) EPS. Archrock’s revenue was up 17.4% compared to the same quarter last year. As a group, analysts expect that Archrock will post 0.3 earnings per share for the current year.
In other news, CFO Doug S. Aron purchased 10,000 shares of Archrock stock in a transaction dated Friday, August 17th. The shares were purchased at an average price of $11.92 per share, with a total value of $119,200.00. Following the transaction, the chief financial officer now owns 49,215 shares in the company, valued at $586,642.80. The purchase was disclosed in a document filed with the SEC, which is available through this link. 2.54% of the stock is currently owned by insiders.
Several brokerages have recently weighed in on AROC. B. Riley set a $15.00 target price on Archrock and gave the stock a “buy” rating in a report on Friday, July 13th. Royal Bank of Canada restated a “buy” rating and set a $16.00 target price on shares of Archrock in a report on Friday, August 3rd. TheStreet upgraded Archrock from a “d+” rating to a “c-” rating in a report on Wednesday, August 1st. Piper Jaffray Companies restated a “buy” rating and set a $14.75 target price on shares of Archrock in a report on Tuesday, August 7th. Finally, Zacks Investment Research cut Archrock from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $14.00.
Archrock, Inc engages in the natural gas contract operations services business in the United States. The company provides natural gas compression services to customers in the oil and natural gas industry. It also offers aftermarket services, such as parts and components; and operation, maintenance, overhaul, and reconfiguration services to customers who own compression equipment.
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