Envestnet Portfolio Solutions Inc. Grows Stock Position in Archrock, Inc. $AROC

Envestnet Portfolio Solutions Inc. boosted its stake in Archrock, Inc. (NYSE:AROC) by 171.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,552 shares of the energy company’s stock after acquiring an additional 19,284 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Archrock were worth $759,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AROC. Farther Finance Advisors LLC boosted its holdings in Archrock by 164.8% in the 1st quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company’s stock worth $26,000 after acquiring an additional 600 shares during the period. GAMMA Investing LLC boosted its holdings in Archrock by 26.7% in the 1st quarter. GAMMA Investing LLC now owns 9,098 shares of the energy company’s stock worth $239,000 after acquiring an additional 1,917 shares during the period. SG Americas Securities LLC purchased a new position in Archrock in the 1st quarter worth approximately $522,000. Janney Montgomery Scott LLC boosted its holdings in Archrock by 4.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,761 shares of the energy company’s stock worth $335,000 after acquiring an additional 574 shares during the period. Finally, HWG Holdings LP boosted its holdings in Archrock by 42.3% in the 1st quarter. HWG Holdings LP now owns 286,139 shares of the energy company’s stock worth $7,508,000 after acquiring an additional 85,121 shares during the period. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Insider Buying and Selling at Archrock

In other Archrock news, SVP Eric W. Thode sold 10,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $23.54, for a total value of $235,400.00. Following the sale, the senior vice president directly owned 224,809 shares of the company’s stock, valued at $5,292,003.86. This trade represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jason C. Rebrook bought 10,000 shares of the company’s stock in a transaction on Thursday, September 18th. The stock was bought at an average cost of $24.17 per share, for a total transaction of $241,700.00. Following the completion of the transaction, the director directly owned 74,511 shares of the company’s stock, valued at $1,800,930.87. This trade represents a 15.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.60% of the company’s stock.

Archrock Stock Performance

Archrock stock opened at $24.19 on Monday. The stock has a 50 day moving average of $24.67 and a 200-day moving average of $24.28. Archrock, Inc. has a 52 week low of $19.73 and a 52 week high of $30.44. The stock has a market cap of $4.25 billion, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 1.25 and a beta of 1.07. The company has a current ratio of 1.81, a quick ratio of 1.30 and a debt-to-equity ratio of 1.86.

Archrock (NYSE:AROC) last announced its quarterly earnings data on Monday, August 4th. The energy company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. Archrock had a return on equity of 18.74% and a net margin of 17.17%.The firm had revenue of $383.15 million for the quarter, compared to analysts’ expectations of $366.34 million. During the same period last year, the business posted $0.23 earnings per share. The firm’s revenue for the quarter was up 41.6% on a year-over-year basis. On average, analysts expect that Archrock, Inc. will post 1.09 EPS for the current fiscal year.

Archrock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.5%. This is a boost from Archrock’s previous quarterly dividend of $0.19. The ex-dividend date was Tuesday, August 5th. Archrock’s dividend payout ratio (DPR) is 63.64%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AROC shares. Evercore ISI decreased their price target on Archrock from $32.00 to $31.00 and set an “outperform” rating for the company in a report on Wednesday, August 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Archrock in a research note on Wednesday, October 8th. Mizuho increased their target price on Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. Finally, Wells Fargo & Company started coverage on Archrock in a research note on Wednesday, September 3rd. They set an “overweight” rating and a $30.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Archrock Profile

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.