Envestnet Asset Management Inc. Reduces Position in Archrock, Inc. (NYSE:AROC)

Envestnet Asset Management Inc. lessened its position in Archrock, Inc. (NYSE:AROC - Free Report) by 19.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 734,612 shares of the energy company's stock after selling 176,193 shares during the period. Envestnet Asset Management Inc. owned about 0.42% of Archrock worth $19,276,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AROC. Raymond James Financial Inc. bought a new stake in shares of Archrock in the 4th quarter worth about $36,241,000. Invesco Ltd. boosted its holdings in shares of Archrock by 12.8% in the 4th quarter. Invesco Ltd. now owns 8,883,949 shares of the energy company's stock valued at $221,121,000 after acquiring an additional 1,008,438 shares during the last quarter. Clearbridge Investments LLC acquired a new position in shares of Archrock in the 4th quarter valued at $17,247,000. Millennium Management LLC raised its position in Archrock by 186.0% during the fourth quarter. Millennium Management LLC now owns 1,047,346 shares of the energy company's stock worth $26,068,000 after acquiring an additional 681,160 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Archrock by 135.1% during the fourth quarter. JPMorgan Chase & Co. now owns 993,063 shares of the energy company's stock worth $24,717,000 after buying an additional 570,680 shares in the last quarter. Institutional investors own 95.45% of the company's stock.

Analyst Upgrades and Downgrades

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

Archrock Price Performance

Archrock stock traded up $0.14 during midday trading on Friday, reaching $23.39. 1,840,392 shares of the company were exchanged, compared to its average volume of 1,431,395. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.96 and a current ratio of 1.47. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of 19.82, a P/E/G ratio of 1.26 and a beta of 1.08. The firm's 50-day simple moving average is $24.76 and its 200-day simple moving average is $25.51. Archrock, Inc. has a 1 year low of $17.27 and a 1 year high of $30.44.

Archrock (NYSE:AROC - Get Free Report) last announced its earnings results on Monday, May 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $342.98 million. On average, analysts anticipate that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Announces Dividend

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

Archrock declared that its Board of Directors has approved a share buyback plan on Monday, May 5th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the energy company to purchase up to 1.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at Archrock

In related news, SVP Jason Ingersoll sold 42,036 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president owned 275,911 shares in the company, valued at $6,757,060.39. This trade represents a 13.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by company insiders.

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.