Pre-heat oven to 375.
Mix the salt, pepper, thyme, basil, rosemary and garlic powder together in a small bowl and set aside.
Make small slits around the roast, about 1/2" deep. Insert a piece of sliced garlic into each slit.
Cover the roast with olive oil until well coasted and sprinkle the seasoning mixture over the top. Using your hands, rub the seasoning mixture in until the roast is evenly coated.
Add the water and beef stock to the bottom of a roasting pan. Add the rack to the roasting pan and place the roast, with the fat side facing up, on the rack. The roast should not be touching the water/beef stock mix.
Transfer the roasting pan to the oven and cook for 55-65 minutes or until the largest part of the roast reaches 135 degrees. Do not open the oven during this time.
Remove the roast from the oven and cover with foil. Let rest for 10 minutes so the temperature rises to 145.
When ready to eat, slice across the grain as thinly as possible.
Enjoy immediately or place it in the refrigerator covered for up to 3 days.