Envestnet Portfolio Solutions Inc. Raises Stake in Archrock, Inc. $AROC

Key Points

• Envestnet Portfolio Solutions Inc. increased its stake in Archrock, Inc. by 171.1%, acquiring a total of 30,552 shares valued at approximately $759,000, according to their recent SEC filing.
• Several institutional investors, including the Teachers Retirement System of The State of Kentucky, have also increased their holdings in Archrock, reflecting growing interest, with 95.45% of the stock owned by hedge funds and other institutions.
• Archrock recently announced a quarterly dividend increase from $0.19 to $0.21 per share, yielding 3.5%, indicating the company's commitment to returning value to shareholders.

Envestnet Portfolio Solutions Inc. grew its stake in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 171.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,552 shares of the energy company's stock after purchasing an additional 19,284 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Archrock were worth $759,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Teachers Retirement System of The State of Kentucky boosted its position in shares of Archrock by 34.4% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 55,528 shares of the energy company's stock worth $1,457,000 after buying an additional 14,200 shares in the last quarter. KBC Group NV boosted its position in shares of Archrock by 13.2% in the 1st quarter. KBC Group NV now owns 8,030 shares of the energy company's stock worth $211,000 after buying an additional 937 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Archrock by 53.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 27,402 shares of the energy company's stock worth $725,000 after buying an additional 9,594 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Archrock by 26.7% in the 1st quarter. GAMMA Investing LLC now owns 9,098 shares of the energy company's stock worth $239,000 after buying an additional 1,917 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Archrock in the 1st quarter worth about $522,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AROC has been the topic of several recent research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Archrock in a research report on Wednesday, October 8th. Wells Fargo & Company assumed coverage on shares of Archrock in a report on Wednesday, September 3rd. They issued an "overweight" rating and a $30.00 target price on the stock. Evercore ISI reduced their target price on shares of Archrock from $32.00 to $31.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Finally, Mizuho upped their price objective on shares of Archrock from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Archrock presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.00.

Insider Buying and Selling

In related news, SVP Eric W. Thode sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $23.54, for a total transaction of $235,400.00. Following the completion of the sale, the senior vice president owned 224,809 shares of the company's stock, valued at approximately $5,292,003.86. This represents a 4.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jason C. Rebrook bought 5,000 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The shares were acquired at an average cost of $23.94 per share, with a total value of $119,700.00. Following the transaction, the director owned 79,511 shares in the company, valued at approximately $1,903,493.34. This represents a 6.71% increase in their position. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by corporate insiders.

Archrock Trading Up 1.8%

NYSE AROC opened at $24.19 on Monday. Archrock, Inc. has a 12 month low of $19.73 and a 12 month high of $30.44. The company has a 50-day moving average of $24.67 and a 200-day moving average of $24.28. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.81 and a quick ratio of 1.30. The company has a market cap of $4.25 billion, a P/E ratio of 18.33, a P/E/G ratio of 1.25 and a beta of 1.07.

Archrock (NYSE:AROC - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The energy company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.02. The company had revenue of $383.15 million during the quarter, compared to the consensus estimate of $366.34 million. Archrock had a net margin of 17.17% and a return on equity of 18.74%. The company's quarterly revenue was up 41.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.23 EPS. As a group, equities analysts predict that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were given a dividend of $0.21 per share. This is a boost from Archrock's previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.84 dividend on an annualized basis and a yield of 3.5%. Archrock's dividend payout ratio is currently 63.64%.

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.

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