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

Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Archrock, Inc. (NYSE:AROC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,550 shares of the energy company’s stock, valued at approximately $213,000.

Other institutional investors have also recently made changes to their positions in the company. USA Financial Formulas boosted its stake in Archrock by 4,483.8% during the fourth quarter. USA Financial Formulas now owns 1,696 shares of the energy company’s stock valued at $26,000 after buying an additional 1,659 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Archrock during the 1st quarter valued at approximately $43,000. GAMMA Investing LLC bought a new position in shares of Archrock during the 4th quarter valued at approximately $51,000. CWM LLC grew its holdings in shares of Archrock by 382.0% in the second quarter. CWM LLC now owns 3,591 shares of the energy company’s stock valued at $73,000 after purchasing an additional 2,846 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in Archrock by 70.6% in the first quarter. Russell Investments Group Ltd. now owns 5,946 shares of the energy company’s stock worth $117,000 after purchasing an additional 2,461 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Archrock Stock Performance

Shares of NYSE:AROC opened at $20.12 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 1.56 and a beta of 1.53. Archrock, Inc. has a 12 month low of $11.73 and a 12 month high of $23.44. The firm’s 50-day moving average is $20.27 and its 200 day moving average is $19.53.

Archrock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date was Tuesday, August 6th. Archrock’s payout ratio is currently 79.52%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $22.00 price objective on shares of Archrock in a research report on Wednesday, August 7th. Stifel Nicolaus lifted their price target on Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, StockNews.com downgraded Archrock from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th.

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.