Man Group plc Acquires Shares of 74,117 Kodiak Gas Services, Inc. $KGS

Man Group plc acquired a new stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 74,117 shares of the company’s stock, valued at approximately $5,568,000.

Several other institutional investors and hedge funds also recently modified their holdings of KGS. Advisors Preferred LLC acquired a new stake in Kodiak Gas Services during the second quarter valued at approximately $1,986,000. Crown Advisors Management Inc. bought a new stake in Kodiak Gas Services in the second quarter worth approximately $4,508,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Kodiak Gas Services by 29.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 901,406 shares of the company’s stock worth $33,713,000 after acquiring an additional 203,809 shares in the last quarter. HighTower Advisors LLC raised its holdings in Kodiak Gas Services by 40.5% in the 4th quarter. HighTower Advisors LLC now owns 57,699 shares of the company’s stock worth $2,158,000 after acquiring an additional 16,619 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Kodiak Gas Services by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,105,555 shares of the company’s stock worth $181,108,000 after buying an additional 135,998 shares during the last quarter. Institutional investors own 24.95% of the company’s stock.

Insider Transactions at Kodiak Gas Services

In other news, CAO Ewan William Hamilton sold 2,729 shares of Kodiak Gas Services stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $68.62, for a total value of $187,263.98. Following the completion of the transaction, the chief accounting officer owned 31,617 shares of the company’s stock, valued at $2,169,558.54. The trade was a 7.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO William Chad Lenamon sold 1,000 shares of the firm’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $67.79, for a total transaction of $67,790.00. Following the sale, the chief operating officer directly owned 87,294 shares in the company, valued at approximately $5,917,660.26. The trade was a 1.13% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 19,531 shares of company stock valued at $1,296,158. Insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

KGS has been the topic of a number of recent research reports. Citigroup lifted 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. Piper Sandler initiated coverage on Kodiak Gas Services in a report on Tuesday, July 28th. They issued an “overweight” rating and a $78.00 price objective for the company. Jefferies Financial Group dropped their price target on Kodiak Gas Services from $79.00 to $69.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Kodiak Gas Services in a research note on Wednesday. Finally, The Goldman Sachs Group increased their price objective on Kodiak Gas Services from $69.00 to $88.00 and gave the company a “buy” rating in a report on Friday, May 15th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Kodiak Gas Services presently has an average rating of “Moderate Buy” and a consensus target price of $78.89.

Kodiak Gas Services Trading Down 4.2%

Shares of KGS stock opened at $57.64 on Friday. Kodiak Gas Services, Inc. has a 1-year low of $32.55 and a 1-year high of $77.68. The stock has a 50-day moving average of $64.28 and a 200-day moving average of $62.96. The stock has a market cap of $5.83 billion, a price-to-earnings ratio of 68.62, a PEG ratio of 0.84 and a beta of 0.97. The company has a current ratio of 1.45, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28.

Kodiak Gas Services (NYSE:KGS) last announced its quarterly earnings results 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 firm had revenue of $391.12 million during the quarter, compared to the consensus estimate of $386.30 million. During the same quarter in the previous year, the company posted $0.43 EPS. The firm’s revenue was up 21.2% on a year-over-year basis. On average, equities research analysts forecast that Kodiak Gas Services, Inc. will post 2.44 earnings per share for the current year.

Kodiak Gas Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Monday, August 17th were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.96 annualized dividend and a dividend yield of 3.4%. Kodiak Gas Services’s dividend payout ratio (DPR) is currently 233.33%.

Kodiak Gas Services Company Profile

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.