Hsbc Holdings PLC Purchases New Holdings in Kodiak Gas Services, Inc. $KGS

Hsbc Holdings PLC acquired a new stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 32,375 shares of the company’s stock, valued at approximately $2,486,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Manatuck Hill Partners LLC purchased a new position in shares of Kodiak Gas Services in the 2nd quarter valued at approximately $1,503,000. Castleark Management LLC purchased a new stake in shares of Kodiak Gas Services during the second quarter worth approximately $1,151,000. Legal & General Group Plc acquired a new stake in shares of Kodiak Gas Services during the second quarter worth $17,840,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Kodiak Gas Services during the second quarter worth $3,698,000. Finally, Algert Global LLC grew its position in Kodiak Gas Services by 9.5% in the 2nd quarter. Algert Global LLC now owns 58,720 shares of the company’s stock valued at $4,412,000 after buying an additional 5,090 shares during the last quarter. 24.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on KGS shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Kodiak Gas Services in a research note on Wednesday. Wells Fargo & Company started coverage on shares of Kodiak Gas Services in a research note on Wednesday, May 27th. They issued an “overweight” rating and a $93.00 target price for the company. Barclays lowered their target price on shares of Kodiak Gas Services from $76.00 to $72.00 and set an “overweight” rating on the stock in a report on Wednesday, July 8th. Citigroup boosted their price target on shares of Kodiak Gas Services from $63.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Zacks Research raised shares of Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $78.89.

Insiders Place Their Bets

In other news, EVP Cory Anne Roclawski sold 4,169 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $68.36, for a total value of $284,992.84. Following the completion of the transaction, the executive vice president owned 24,662 shares in the company, valued at $1,685,894.32. This trade represents a 14.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, the insider directly owned 38,454 shares in the company, valued at approximately $2,606,412.12. This represents a 10.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 19,531 shares of company stock worth $1,296,158. Insiders own 0.64% of the company’s stock.

Kodiak Gas Services Stock Down 0.1%

Kodiak Gas Services stock opened at $57.64 on Monday. The stock’s 50 day moving average price is $64.28 and its 200 day moving average price is $63.04. Kodiak Gas Services, Inc. has a 1-year low of $32.55 and a 1-year high of $77.68. The company has a market cap of $5.83 billion, a PE ratio of 68.62, a price-to-earnings-growth ratio of 0.84 and a beta of 0.98. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.45 and a quick ratio of 1.15.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.12). Kodiak Gas Services had a return on equity of 11.92% and a net margin of 5.77%.The business had revenue of $391.12 million during the quarter, compared to analysts’ expectations of $386.30 million. During the same quarter in the previous year, the company posted $0.43 EPS. The company’s revenue was up 21.2% compared to the same quarter last year. On average, sell-side analysts predict that Kodiak Gas Services, Inc. will post 2.44 EPS for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Monday, August 17th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.4%. Kodiak Gas Services’s dividend payout ratio is 233.33%.

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.