Archrock, Inc. (NYSE:AROC) Increases Dividend to $0.18 Per Share

Archrock, Inc. (NYSE:AROC) announced a quarterly dividend on Thursday, October 24th, NASDAQ reports. Investors of record on Wednesday, November 6th will be paid a dividend of 0.175 per share by the energy company on Wednesday, November 13th. This represents a $0.70 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Wednesday, November 6th. This is a boost from Archrock’s previous quarterly dividend of $0.17.

Archrock has increased its dividend payment by an average of 1.7% per year over the last three years. Archrock has a payout ratio of 48.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Archrock to earn $1.50 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 46.7%.

Archrock Price Performance

AROC stock opened at $20.19 on Tuesday. The business’s 50-day moving average is $20.33 and its two-hundred day moving average is $20.15. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.53 and a quick ratio of 0.94. The firm has a market capitalization of $3.41 billion, a P/E ratio of 22.69 and a beta of 1.52. Archrock has a 1 year low of $13.15 and a 1 year high of $23.44.

Analysts Set New Price Targets

AROC has been the topic of a number of recent analyst reports. Citigroup initiated coverage on shares of Archrock in a research report on Friday, September 27th. They issued a “buy” rating and a $24.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on shares of Archrock in a research report on Friday, September 6th. They set an “overweight” rating and a $24.00 target price on the stock. Stifel Nicolaus increased their target price on shares of Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Mizuho initiated coverage on shares of Archrock in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price objective on the stock. Finally, Royal Bank of Canada raised their target price on shares of Archrock from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.50.

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.