Envestnet Asset Management Inc. Trims Stake in Archrock, Inc. (NYSE:AROC)

Envestnet Asset Management Inc. lessened its holdings in Archrock, Inc. (NYSE:AROC) by 19.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm 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 hedge funds and other institutional investors have also bought and sold shares of AROC. KBC Group NV lifted its stake in shares of Archrock by 13.2% in the first 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. GAMMA Investing LLC increased its stake in shares of Archrock by 26.7% in the first quarter. GAMMA Investing LLC now owns 9,098 shares of the energy company’s stock worth $239,000 after purchasing an additional 1,917 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Archrock by 53.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 27,402 shares of the energy company’s stock valued at $725,000 after acquiring an additional 9,594 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in Archrock during the fourth quarter valued at $242,000. Finally, SG Americas Securities LLC bought a new stake in shares of Archrock in the 1st quarter worth about $522,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Archrock Trading Down 0.8%

Shares of AROC opened at $23.15 on Thursday. The company has a current ratio of 1.47, a quick ratio of 0.96 and a debt-to-equity ratio of 1.70. Archrock, Inc. has a 12-month low of $17.27 and a 12-month high of $30.44. The firm has a 50-day moving average price of $24.81 and a 200 day moving average price of $25.52. The firm has a market capitalization of $4.09 billion, a P/E ratio of 19.62, a P/E/G ratio of 1.26 and a beta of 1.08.

Archrock (NYSE:AROC) last issued 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. The business had revenue of $347.16 million for the quarter, compared to analysts’ expectations of $342.98 million. Archrock had a net margin of 16.38% and a return on equity of 18.31%. Sell-side analysts forecast that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th were issued a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.76 annualized dividend and a yield of 3.28%. Archrock’s dividend payout ratio (DPR) is 64.41%.

Archrock declared that its Board of Directors has initiated a share repurchase program on Monday, May 5th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the energy company to purchase up to 1.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, Sidoti upgraded 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 issued a buy rating to the company. According to data from MarketBeat, Archrock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.67.

Insider Buying and Selling

In other Archrock news, SVP Jason Ingersoll sold 42,036 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $24.49, for a total value of $1,029,461.64. Following the transaction, the senior vice president directly owned 275,911 shares in the company, valued at $6,757,060.39. This represents a 13.22% decrease in their ownership of the stock. The sale 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.