Envestnet Portfolio Solutions Inc. Purchases New Shares in Archrock, Inc. (NYSE:AROC)

Envestnet Portfolio Solutions Inc. acquired a new position in Archrock, Inc. (NYSE:AROC) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,550 shares of the energy company’s stock, valued at approximately $213,000.

Several other hedge funds have also modified their holdings of AROC. Vanguard Group Inc. raised its holdings in Archrock by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company’s stock worth $360,385,000 after purchasing an additional 849,750 shares during the period. Earnest Partners LLC raised its stake in shares of Archrock by 2.6% during the 1st quarter. Earnest Partners LLC now owns 14,007,955 shares of the energy company’s stock worth $275,536,000 after buying an additional 351,391 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Archrock by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,624,601 shares of the energy company’s stock valued at $163,620,000 after buying an additional 145,397 shares in the last quarter. Blackstone Inc. grew its stake in Archrock by 4,211.9% in the 4th quarter. Blackstone Inc. now owns 5,903,142 shares of the energy company’s stock valued at $90,908,000 after acquiring an additional 5,766,237 shares during the period. Finally, Sei Investments Co. increased its holdings in Archrock by 5.8% in the 1st quarter. Sei Investments Co. now owns 5,409,863 shares of the energy company’s stock worth $106,412,000 after acquiring an additional 295,998 shares in the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Archrock Trading Up 4.3 %

Shares of AROC opened at $20.12 on Friday. Archrock, Inc. has a 52-week low of $11.73 and a 52-week high of $23.44. The stock has a market cap of $3.14 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 1.56 and a beta of 1.53. The firm’s fifty day moving average is $20.27 and its two-hundred day moving average is $19.53. The company has a quick ratio of 0.74, a current ratio of 1.53 and a debt-to-equity ratio of 1.80.

Archrock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th were paid a dividend of $0.165 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.66 annualized dividend and a yield of 3.28%. Archrock’s dividend payout ratio is presently 79.52%.

Wall Street Analyst Weigh In

Several research firms have issued reports on AROC. Stifel Nicolaus increased their price objective on shares of Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com downgraded shares of Archrock from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 price objective on shares of Archrock in a report on Wednesday, August 7th.

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.