Envestnet Asset Management Inc. Has $19.97 Million Stock Position in Archrock, Inc. (NYSE:AROC)

Envestnet Asset Management Inc. raised its holdings in shares of Archrock, Inc. (NYSE:AROC) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 987,790 shares of the energy company’s stock after buying an additional 6,859 shares during the quarter. Envestnet Asset Management Inc. owned about 0.63% of Archrock worth $19,973,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AROC. Vanguard Group Inc. raised its stake in Archrock by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company’s stock valued at $360,385,000 after purchasing an additional 849,750 shares during the last quarter. Earnest Partners LLC raised its position in shares of Archrock by 2.6% during the first quarter. Earnest Partners LLC now owns 14,007,955 shares of the energy company’s stock valued at $275,536,000 after buying an additional 351,391 shares during the last quarter. Blackstone Inc. grew its position in Archrock by 4,211.9% during the fourth quarter. Blackstone Inc. now owns 5,903,142 shares of the energy company’s stock worth $90,908,000 after buying an additional 5,766,237 shares in the last quarter. Sei Investments Co. increased its stake in Archrock by 5.8% during the first quarter. Sei Investments Co. now owns 5,409,863 shares of the energy company’s stock valued at $106,412,000 after acquiring an additional 295,998 shares during the period. Finally, American Century Companies Inc. raised its holdings in Archrock by 20.5% in the 2nd quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company’s stock valued at $80,036,000 after acquiring an additional 672,663 shares in the last quarter. 95.45% of the stock is owned by institutional investors.

Archrock Stock Up 1.4 %

Shares of NYSE:AROC opened at $21.19 on Tuesday. The company’s fifty day moving average is $20.10 and its 200-day moving average is $19.90. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.94 and a current ratio of 1.53. Archrock, Inc. has a 52 week low of $11.73 and a 52 week high of $23.44. The company has a market capitalization of $3.31 billion, a PE ratio of 25.52 and a beta of 1.51.

Archrock (NYSE:AROC) last issued its quarterly earnings data on Tuesday, July 30th. The energy company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. Archrock had a net margin of 13.20% and a return on equity of 16.35%. The firm had revenue of $270.53 million for the quarter, compared to analysts’ expectations of $270.61 million. Equities research analysts predict that Archrock, Inc. will post 1.07 earnings per share for the current fiscal year.

Archrock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Tuesday, August 6th. Archrock’s payout ratio is presently 79.52%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. StockNews.com cut Archrock from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. 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 research note on Wednesday, July 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $22.00 target price on shares of Archrock in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Archrock in a research report on Friday, September 6th. They issued an “overweight” rating and a $24.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Archrock has an average rating of “Moderate Buy” and a consensus price target of $21.50.

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.