Envestnet Asset Management Inc. lifted its position in Archrock, Inc. (NYSE:AROC – Free Report) by 4.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 461,615 shares of the energy company’s stock after acquiring an additional 20,873 shares during the period. Envestnet Asset Management Inc. owned about 0.29% of Archrock worth $4,732,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Archrock by 5.9% during the third quarter. Vanguard Group Inc. now owns 17,248,507 shares of the energy company’s stock worth $110,735,000 after purchasing an additional 963,291 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Archrock by 6.5% during the first quarter. Dimensional Fund Advisors LP now owns 10,007,219 shares of the energy company’s stock worth $97,770,000 after purchasing an additional 610,186 shares during the period. Invesco Ltd. boosted its holdings in shares of Archrock by 18.3% during the first quarter. Invesco Ltd. now owns 9,454,203 shares of the energy company’s stock worth $87,262,000 after purchasing an additional 1,462,659 shares during the period. Bank of America Corp DE boosted its holdings in shares of Archrock by 2.7% during the first quarter. Bank of America Corp DE now owns 7,287,680 shares of the energy company’s stock worth $71,201,000 after purchasing an additional 190,711 shares during the period. Finally, State Street Corp boosted its holdings in shares of Archrock by 17.8% during the first quarter. State Street Corp now owns 6,047,977 shares of the energy company’s stock worth $55,823,000 after purchasing an additional 915,097 shares during the period. 81.53% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts recently commented on AROC shares. Royal Bank of Canada raised their price target on shares of Archrock from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. StockNews.com upgraded shares of Archrock from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. TheStreet upgraded shares of Archrock from a “c+” rating to a “b-” rating in a research note on Monday, July 31st. Raymond James boosted their price objective on shares of Archrock from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 17th. Finally, Stifel Nicolaus boosted their price objective on shares of Archrock from $13.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $16.33.
Archrock Trading Up 0.6 %
Shares of AROC stock opened at $14.49 on Tuesday. Archrock, Inc. has a 1 year low of $7.96 and a 1 year high of $14.75. The firm’s fifty day simple moving average is $12.97 and its 200 day simple moving average is $11.64. The firm has a market capitalization of $2.26 billion, a P/E ratio of 27.34, a price-to-earnings-growth ratio of 3.03 and a beta of 1.70. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 1.86.
Archrock Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, November 7th were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend was Monday, November 6th. Archrock’s dividend payout ratio (DPR) is presently 116.98%.
Insider Buying and Selling at Archrock
In other Archrock news, CAO Donna A. Henderson sold 10,802 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $12.77, for a total value of $137,941.54. Following the sale, the chief accounting officer now owns 39,237 shares of the company’s stock, valued at approximately $501,056.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.80% of the company’s stock.
Archrock, Inc, together with its subsidiaries, operates as an energy infrastructure company in the United States. It operates in two segments, Contract Operations and Aftermarket Services. The company engages in the designing, sourcing, owning, installing, operating, servicing, repairing, and maintaining its owned fleet of natural gas compression equipment to provide natural gas compression services to customers in the oil and natural gas industry.
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