Envestnet Portfolio Solutions Inc. Invests $242,000 in Archrock, Inc. (NYSE:AROC)

Envestnet Portfolio Solutions Inc. purchased a new position in shares of Archrock, Inc. (NYSE:AROC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,731 shares of the energy company's stock, valued at approximately $242,000.

A number of other hedge funds have also recently made changes to their positions in the business. Atria Investments Inc grew its holdings in shares of Archrock by 17.4% during the 4th quarter. Atria Investments Inc now owns 38,313 shares of the energy company's stock worth $954,000 after acquiring an additional 5,665 shares during the period. Barclays PLC lifted its holdings in shares of Archrock by 124.2% during the third quarter. Barclays PLC now owns 302,610 shares of the energy company's stock valued at $6,125,000 after purchasing an additional 167,648 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Archrock by 94.5% during the third quarter. JPMorgan Chase & Co. now owns 422,383 shares of the energy company's stock valued at $8,549,000 after buying an additional 205,241 shares during the last quarter. Verition Fund Management LLC bought a new stake in Archrock in the 3rd quarter worth about $314,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Archrock by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,358,092 shares of the energy company's stock valued at $58,693,000 after acquiring an additional 34,272 shares during the period. 95.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Citigroup increased their price target on Archrock from $32.00 to $33.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $26.67.

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Archrock Stock Performance

Shares of AROC stock traded up $0.70 during trading hours on Wednesday, reaching $27.17. 993,891 shares of the company traded hands, compared to its average volume of 1,445,287. The firm has a 50-day moving average price of $26.84 and a 200 day moving average price of $24.74. The company has a market cap of $4.76 billion, a P/E ratio of 29.86, a P/E/G ratio of 1.60 and a beta of 1.56. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82. Archrock, Inc. has a 12-month low of $17.27 and a 12-month high of $30.44.

Archrock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th were given a $0.19 dividend. This is a positive change from Archrock's previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Wednesday, February 12th. Archrock's dividend payout ratio is presently 73.08%.

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.