Merewether Investment Management LP Has $38.16 Million Stock Position in Kodiak Gas Services, Inc. (NYSE:KGS)

Merewether Investment Management LP increased its holdings in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 259.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 934,499 shares of the company’s stock after purchasing an additional 674,499 shares during the quarter. Kodiak Gas Services accounts for about 1.5% of Merewether Investment Management LP’s holdings, making the stock its 28th biggest position. Merewether Investment Management LP’s holdings in Kodiak Gas Services were worth $38,156,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC boosted its stake in shares of Kodiak Gas Services by 50.2% in the fourth quarter. FMR LLC now owns 7,342,296 shares of the company’s stock valued at $299,786,000 after buying an additional 2,452,492 shares during the period. Encompass Capital Advisors LLC acquired a new position in Kodiak Gas Services in the fourth quarter valued at about $66,122,000. Vanguard Group Inc. grew its stake in Kodiak Gas Services by 52.3% during the fourth quarter. Vanguard Group Inc. now owns 2,659,015 shares of the company’s stock worth $108,568,000 after buying an additional 913,104 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Kodiak Gas Services by 1,154.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 681,641 shares of the company’s stock valued at $27,832,000 after buying an additional 627,320 shares during the period. Finally, Augustine Asset Management Inc. raised its position in shares of Kodiak Gas Services by 1,761.2% in the 4th quarter. Augustine Asset Management Inc. now owns 640,244 shares of the company’s stock valued at $26,141,000 after buying an additional 605,844 shares in the last quarter. Institutional investors and hedge funds own 24.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on KGS. Barclays reduced their price target on Kodiak Gas Services from $41.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Truist Financial raised their target price on Kodiak Gas Services from $45.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Raymond James reiterated an “outperform” rating on shares of Kodiak Gas Services in a research note on Friday, March 7th. Royal Bank of Canada set a $45.00 price objective on shares of Kodiak Gas Services and gave the stock an “outperform” rating in a report on Tuesday, March 11th. Finally, Citigroup upped their price target on Kodiak Gas Services from $41.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kodiak Gas Services has a consensus rating of “Moderate Buy” and a consensus price target of $41.45.

Kodiak Gas Services Stock Up 2.1%

KGS opened at $36.41 on Tuesday. The company has a market capitalization of $3.23 billion, a PE ratio of 125.56 and a beta of 1.59. The company has a current ratio of 1.27, a quick ratio of 0.93 and a debt-to-equity ratio of 1.86. The firm’s 50 day simple moving average is $35.08 and its two-hundred day simple moving average is $39.30. Kodiak Gas Services, Inc. has a 1-year low of $24.84 and a 1-year high of $50.43.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The business had revenue of $329.64 million for the quarter, compared to the consensus estimate of $328.45 million. Kodiak Gas Services had a return on equity of 7.91% and a net margin of 2.23%. The company’s quarterly revenue was up 52.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 earnings per share. As a group, equities analysts forecast that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.94%. The ex-dividend date is Monday, May 5th. This is a positive change from Kodiak Gas Services’s previous quarterly dividend of $0.41. Kodiak Gas Services’s payout ratio is 339.62%.

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.