Envestnet Asset Management Inc. Sells 176,193 Shares of Archrock, Inc. (NYSE:AROC)

Envestnet Asset Management Inc. lowered its stake in Archrock, Inc. (NYSE:AROC - Free Report) by 19.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 734,612 shares of the energy company's stock after selling 176,193 shares during the quarter. Envestnet Asset Management Inc. owned about 0.42% of Archrock worth $19,276,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AROC. Farther Finance Advisors LLC lifted its position in shares of Archrock by 164.8% during the first quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company's stock worth $26,000 after purchasing an additional 600 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Archrock during the first quarter worth approximately $33,000. Covestor Ltd lifted its holdings in shares of Archrock by 580.6% during the fourth quarter. Covestor Ltd now owns 4,485 shares of the energy company's stock worth $111,000 after purchasing an additional 3,826 shares during the period. Park Square Financial Group LLC acquired a new stake in Archrock in the fourth quarter valued at $126,000. Finally, Focus Partners Wealth purchased a new position in shares of Archrock in the fourth quarter valued at $209,000. Institutional investors and hedge funds own 95.45% of the company's stock.

Archrock Stock Up 0.6%

NYSE:AROC traded up $0.14 during trading hours on Friday, hitting $23.39. 1,840,392 shares of the company's stock traded hands, compared to its average volume of 1,429,012. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.96 and a current ratio of 1.47. Archrock, Inc. has a twelve month low of $17.27 and a twelve month high of $30.44. The stock's fifty day moving average price is $24.76 and its two-hundred day moving average price is $25.50. The firm has a market cap of $4.14 billion, a P/E ratio of 19.82, a P/E/G ratio of 1.25 and a beta of 1.08.

Archrock (NYSE:AROC - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.03. Archrock had a return on equity of 18.31% and a net margin of 16.38%. The company had revenue of $347.16 million during the quarter, compared to the consensus estimate of $342.98 million. On average, research analysts expect that Archrock, Inc. will post 1.09 earnings per share for the current fiscal year.

Archrock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.76 dividend on an annualized basis and a yield of 3.25%. Archrock's dividend payout ratio is 64.41%.

Archrock announced that its Board of Directors has approved a share repurchase program on Monday, May 5th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the energy company to repurchase up to 1.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Separately, Sidoti raised Archrock to a "hold" rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $26.67.

Insiders Place Their Bets

In related news, SVP Jason Ingersoll sold 42,036 shares of the firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $24.49, for a total transaction of $1,029,461.64. Following the completion of the sale, the senior vice president directly owned 275,911 shares of the company's stock, valued at $6,757,060.39. This trade represents a 13.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.60% of the stock is owned by corporate insiders.

Archrock Company 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.