Envestnet Portfolio Solutions Inc. Makes New $242,000 Investment in Archrock, Inc. (NYSE:AROC)

Envestnet Portfolio Solutions Inc. acquired a new position in Archrock, Inc. (NYSE:AROC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 9,731 shares of the energy company’s stock, valued at approximately $242,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Brown Brothers Harriman & Co. purchased a new position in shares of Archrock during the third quarter valued at approximately $28,000. Wolverine Asset Management LLC boosted its position in shares of Archrock by 111.8% during the 4th quarter. Wolverine Asset Management LLC now owns 1,504 shares of the energy company’s stock valued at $37,000 after acquiring an additional 14,200 shares during the last quarter. Continuum Advisory LLC increased its stake in Archrock by 5,621.6% during the third quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company’s stock worth $43,000 after acquiring an additional 2,080 shares during the last quarter. Millburn Ridgefield Corp purchased a new stake in shares of Archrock in the third quarter valued at $50,000. Finally, Montag A & Associates Inc. bought a new position in shares of Archrock during the fourth quarter valued at approximately $55,000. 95.45% of the stock is owned by institutional investors.

Archrock Trading Down 0.6 %

AROC stock opened at $26.41 on Friday. The business’s 50-day moving average is $27.04 and its 200 day moving average is $24.54. Archrock, Inc. has a 12-month low of $17.27 and a 12-month high of $30.44. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 1.60 and a beta of 1.56.

Archrock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.88%. The ex-dividend date was Wednesday, February 12th. This is a boost from Archrock’s previous quarterly dividend of $0.18. Archrock’s dividend payout ratio is currently 73.08%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AROC. Citigroup boosted their price objective on shares of Archrock from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. JPMorgan Chase & Co. raised their target price on shares of Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $26.67.

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.