Kodiak Gas Services, Inc. $KGS Shares Purchased by Rhumbline Advisers

Rhumbline Advisers grew its position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 30.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 78,966 shares of the company’s stock after acquiring an additional 18,516 shares during the quarter. Rhumbline Advisers owned about 0.09% of Kodiak Gas Services worth $2,706,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. bought a new stake in Kodiak Gas Services in the 1st quarter valued at about $40,648,000. Goldman Sachs Group Inc. increased its stake in shares of Kodiak Gas Services by 58.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,983,360 shares of the company’s stock valued at $73,979,000 after purchasing an additional 730,180 shares during the period. Think Investments LP bought a new stake in shares of Kodiak Gas Services during the first quarter valued at approximately $23,678,000. Zimmer Partners LP boosted its position in shares of Kodiak Gas Services by 14.2% during the first quarter. Zimmer Partners LP now owns 3,824,063 shares of the company’s stock worth $142,638,000 after buying an additional 476,363 shares during the period. Finally, Voya Investment Management LLC grew its holdings in Kodiak Gas Services by 5,009.6% in the 1st quarter. Voya Investment Management LLC now owns 375,810 shares of the company’s stock worth $14,018,000 after buying an additional 368,455 shares in the last quarter. Institutional investors own 24.95% of the company’s stock.

Kodiak Gas Services Stock Performance

KGS opened at $36.74 on Monday. The business has a fifty day simple moving average of $34.94 and a 200-day simple moving average of $34.34. The firm has a market cap of $3.18 billion, a PE ratio of 45.92 and a beta of 1.33. Kodiak Gas Services, Inc. has a fifty-two week low of $29.25 and a fifty-two week high of $50.43. The company has a quick ratio of 0.69, a current ratio of 0.98 and a debt-to-equity ratio of 2.08.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.14). Kodiak Gas Services had a net margin of 5.84% and a return on equity of 10.37%. The firm had revenue of $322.74 million for the quarter, compared to analyst estimates of $328.23 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. The firm’s revenue was down .6% compared to the same quarter last year. As a group, equities analysts predict that Kodiak Gas Services, Inc. will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services announced that its board has initiated a share repurchase program on Monday, August 11th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to buy up to 1.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Kodiak Gas Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 3rd were paid a dividend of $0.49 per share. This is a boost from Kodiak Gas Services’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $1.96 annualized dividend and a yield of 5.3%. Kodiak Gas Services’s dividend payout ratio (DPR) is presently 245.00%.

Analysts Set New Price Targets

Several research firms recently commented on KGS. Mizuho lowered their target price on Kodiak Gas Services from $47.00 to $44.00 and set an “outperform” rating on the stock in a research report on Wednesday. William Blair initiated coverage on Kodiak Gas Services in a report on Tuesday, November 18th. They set an “outperform” rating on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Kodiak Gas Services in a research note on Monday, December 1st. Stifel Nicolaus set a $48.00 target price on shares of Kodiak Gas Services in a research report on Thursday, November 6th. Finally, Royal Bank Of Canada raised their target price on shares of Kodiak Gas Services from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, November 18th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.29.

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.