First Trust Advisors LP Grows Position in Kodiak Gas Services, Inc. $KGS

First Trust Advisors LP increased its holdings in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 53.5% in the first quarter, Holdings Channel reports. The firm owned 195,759 shares of the company’s stock after buying an additional 68,210 shares during the period. First Trust Advisors LP’s holdings in Kodiak Gas Services were worth $11,417,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KGS. Royal Bank of Canada boosted its stake in Kodiak Gas Services by 67.5% during the first quarter. Royal Bank of Canada now owns 10,235 shares of the company’s stock worth $382,000 after buying an additional 4,126 shares during the period. AQR Capital Management LLC raised its stake in shares of Kodiak Gas Services by 64.9% in the 1st quarter. AQR Capital Management LLC now owns 21,261 shares of the company’s stock valued at $793,000 after acquiring an additional 8,369 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Kodiak Gas Services by 44.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,814 shares of the company’s stock valued at $1,000,000 after acquiring an additional 8,297 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Kodiak Gas Services by 58.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,983,360 shares of the company’s stock worth $73,979,000 after acquiring an additional 730,180 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Kodiak Gas Services by 102.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 95,108 shares of the company’s stock worth $3,548,000 after acquiring an additional 48,122 shares during the last quarter. 24.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Pedro R. Buhigas sold 4,625 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $67.78, for a total transaction of $313,482.50. Following the completion of the transaction, the insider directly owned 38,454 shares of the company’s stock, valued at approximately $2,606,412.12. The trade was a 10.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Cory Anne Roclawski sold 4,169 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $68.36, for a total transaction of $284,992.84. Following the sale, the executive vice president owned 24,662 shares in the company, valued at $1,685,894.32. The trade was a 14.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 13,523 shares of company stock worth $921,319 over the last 90 days. 0.64% of the stock is currently owned by company insiders.

Kodiak Gas Services Stock Performance

NYSE:KGS opened at $58.70 on Friday. Kodiak Gas Services, Inc. has a 52 week low of $30.06 and a 52 week high of $77.68. The company has a fifty day simple moving average of $67.35 and a two-hundred day simple moving average of $60.13. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 2.38. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 79.33, a price-to-earnings-growth ratio of 0.86 and a beta of 0.89.

Kodiak Gas Services (NYSE:KGS) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.05. The business had revenue of $345.76 million for the quarter, compared to analysts’ expectations of $340.23 million. Kodiak Gas Services had a return on equity of 13.12% and a net margin of 5.13%.The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $0.33 earnings per share. As a group, equities analysts anticipate that Kodiak Gas Services, Inc. will post 2.41 earnings per share for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Monday, May 18th were issued a dividend of $0.49 per share. The ex-dividend date was Monday, May 18th. This represents a $1.96 annualized dividend and a yield of 3.3%. Kodiak Gas Services’s dividend payout ratio is 264.86%.

Analyst Ratings Changes

KGS has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kodiak Gas Services in a research report on Friday, May 29th. Barclays decreased their price target on Kodiak Gas Services from $76.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 8th. Jefferies Financial Group began coverage on Kodiak Gas Services in a research note on Thursday, June 4th. They issued a “buy” rating and a $79.00 price objective for the company. Citigroup boosted their price objective on Kodiak Gas Services from $63.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Finally, Piper Sandler initiated coverage on Kodiak Gas Services in a research note on Tuesday. They set an “overweight” rating and a $78.00 target price on the stock. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Kodiak Gas Services presently has an average rating of “Moderate Buy” and an average price target of $79.33.

About Kodiak Gas Services

Kodiak Gas Services, Inc operates contract compression infrastructure for customers in the oil and gas industry in the United States. It operates in two segments, Compression Operations and Other Services. The Compression Operations segment operates company-owned and customer-owned compression infrastructure to enable the production, gathering, and transportation of natural gas and oil. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings.