Man Group plc Acquires New Holdings in Kodiak Gas Services, Inc. $KGS

Man Group plc acquired a new stake in Kodiak Gas Services, Inc. (NYSE:KGS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 74,117 shares of the company’s stock, valued at approximately $5,568,000. Man Group plc owned 0.07% of Kodiak Gas Services as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of KGS. Advisors Preferred LLC purchased a new position in Kodiak Gas Services in the second quarter worth $1,986,000. Crown Advisors Management Inc. purchased a new stake in shares of Kodiak Gas Services in the second quarter worth $4,508,000. Charles Schwab Investment Management Inc. raised its stake in Kodiak Gas Services by 29.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 901,406 shares of the company’s stock valued at $33,713,000 after purchasing an additional 203,809 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of 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 purchasing an additional 16,619 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Kodiak Gas Services by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,105,555 shares of the company’s stock valued at $181,108,000 after purchasing an additional 135,998 shares in the last quarter. 24.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KGS has been the topic of several research analyst reports. Stifel Nicolaus boosted their price target on shares of Kodiak Gas Services from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Jefferies Financial Group decreased their target price on shares of Kodiak Gas Services from $79.00 to $69.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Barclays decreased their target price on Kodiak Gas Services from $76.00 to $72.00 and set an “overweight” rating on the stock in a report on Wednesday, July 8th. Zacks Research upgraded Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Finally, Piper Sandler initiated coverage on Kodiak Gas Services in a report on Tuesday, July 28th. They set an “overweight” rating and a $78.00 price target for the company. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Kodiak Gas Services presently has a consensus rating of “Moderate Buy” and an average price target of $78.89.

Insiders Place Their Bets

In related news, EVP Cory Anne Roclawski sold 4,169 shares of Kodiak Gas Services stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $68.36, for a total value of $284,992.84. Following the transaction, the executive vice president directly owned 24,662 shares in the company, valued at $1,685,894.32. This trade represents a 14.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert Michael Mckee sold 6,008 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $62.39, for a total transaction of $374,839.12. Following the transaction, the chief executive officer directly owned 298,589 shares in the company, valued at approximately $18,628,967.71. This trade represents a 1.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 19,531 shares of company stock worth $1,296,158. 0.64% of the stock is currently owned by insiders.

Kodiak Gas Services Trading Down 4.2%

Shares of NYSE:KGS opened at $57.64 on Friday. 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 business has a 50-day moving average price of $64.28 and a 200-day moving average price of $62.96. Kodiak Gas Services, Inc. has a 52-week low of $32.55 and a 52-week high of $77.68. The company has a quick ratio of 1.15, a current ratio of 1.45 and a debt-to-equity ratio of 1.28.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $386.30 million. During the same period in the previous year, the company posted $0.43 EPS. The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. Equities analysts predict that Kodiak Gas Services, Inc. will post 2.44 EPS for the current year.

Kodiak Gas Services Announces Dividend

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

Kodiak Gas Services 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.