Archrock (AROC) Declares $0.15 Dividend

Archrock said on April 28, 2023 that its board of directors declared a regular quarterly dividend of $0.15 per share ($0.60 annualized). Previously, the company paid $0.15 per share.

Shares must be purchased before the ex-div date of May 8, 2023 to qualify for the dividend. Shareholders of record as of May 9, 2023 will receive the payment on May 16, 2023.

At the current share price of $10.29 / share, the stock's dividend yield is 5.83%.

Looking back five years and taking a sample every week, the average dividend yield has been 6.82%, the lowest has been 3.76%, and the highest has been 17.11%. The standard deviation of yields is 2.16 (n=237).

The current dividend yield is 0.46 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 2.12. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.03%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 488 funds or institutions reporting positions in Archrock. This is an increase of 12 owner(s) or 2.52% in the last quarter. Average portfolio weight of all funds dedicated to AROC is 0.12%, an increase of 20.40%. Total shares owned by institutions decreased in the last three months by 0.87% to 150,975K shares. The put/call ratio of AROC is 0.05, indicating a bullish outlook.

Analyst Price Forecast Suggests 35.47% Upside

As of April 24, 2023, the average one-year price target for Archrock is 13.94. The forecasts range from a low of 13.13 to a high of $15.75. The average price target represents an increase of 35.47% from its latest reported closing price of 10.29.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Archrock is 988MM, an increase of 16.82%. The projected annual non-GAAP EPS is 0.43.

What are Other Shareholders Doing?

Earnest Partners holds 14,242K shares representing 9.09% ownership of the company. In it's prior filing, the firm reported owning 14,321K shares, representing a decrease of 0.55%. The firm increased its portfolio allocation in AROC by 26.93% over the last quarter.

IJR - iShares Core S&P Small-Cap ETF holds 9,918K shares representing 6.33% ownership of the company. In it's prior filing, the firm reported owning 9,799K shares, representing an increase of 1.19%. The firm increased its portfolio allocation in AROC by 28.79% over the last quarter.

Invesco holds 9,681K shares representing 6.18% ownership of the company. In it's prior filing, the firm reported owning 9,252K shares, representing an increase of 4.43%. The firm increased its portfolio allocation in AROC by 33.19% over the last quarter.

MLPEX - Invesco Oppenheimer SteelPath MLP Select 40 Fund Class C holds 7,580K shares representing 4.84% ownership of the company. No change in the last quarter.

Bank Of America holds 7,097K shares representing 4.53% ownership of the company. In it's prior filing, the firm reported owning 7,207K shares, representing a decrease of 1.54%. The firm increased its portfolio allocation in AROC by 31.28% over the last quarter.

Archrock Background Information
(This description is provided by the company.)

Archrock is an energy infrastructure company with a pure-play focus on midstream natural gas compression. Archrock is the leading provider of natural gas compression services to customers in the oil and natural gas industry throughout the U.S. and a leading supplier of aftermarket services to customers that own compression equipment in the U.S. Archrock is headquartered in Houston, Texas.

This story originally appeared on Fintel.