Insider Selling: Kodiak Gas Services (NYSE:KGS) CEO Sells $143,830.70 in Stock

Kodiak Gas Services, Inc. (NYSE:KGS) CEO Robert McKee sold 2,666 shares of the firm’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $53.95, for a total transaction of $143,830.70. Following the transaction, the chief executive officer directly owned 289,924 shares of the company’s stock, valued at $15,641,399.80. The trade was a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Robert Michael Mckee also recently made the following trade(s):

• On Tuesday, September 1st, Robert McKee sold 5,999 shares of Kodiak Gas Services stock. The stock was sold at an average price of $59.31, for a total transaction of $355,800.69.
• On Wednesday, August 19th, Robert McKee sold 6,008 shares of Kodiak Gas Services stock. The shares were sold at an average price of $62.39, for a total transaction of $374,839.12.

Kodiak Gas Services Stock Down 1.9%

KGS opened at $53.58 on Friday. The company has a market capitalization of $5.43 billion, a PE ratio of 63.78 and a beta of 1.01. The firm has a 50-day simple moving average of $58.70 and a two-hundred day simple moving average of $63.77. 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, Inc. has a 52 week low of $32.55 and a 52 week high of $77.68.

Kodiak Gas Services (NYSE:KGS) last posted its earnings results on Thursday, August 6th. The company reported $0.55 EPS 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 firm had revenue of $391.12 million during the quarter, compared to analysts’ expectations of $386.30 million. During the same quarter in the prior year, the firm posted $0.43 earnings per share. Kodiak Gas Services’s quarterly revenue was up 21.2% on a year-over-year basis. Analysts forecast that Kodiak Gas Services, Inc. will post 2.46 earnings per share for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Monday, August 17th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, August 17th. Kodiak Gas Services’s dividend payout ratio is 233.33%.

Institutional Trading of Kodiak Gas Services

A number of hedge funds have recently bought and sold shares of KGS. BlackRock Inc. purchased a new position in shares of Kodiak Gas Services in the 2nd quarter valued at $1,142,139,000. Wellington Management Group LLP lifted its stake in shares of Kodiak Gas Services by 85.0% during the 2nd quarter. Wellington Management Group LLP now owns 2,432,174 shares of the company’s stock worth $182,729,000 after purchasing an additional 1,117,743 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in 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 valued at $181,108,000 after purchasing an additional 135,998 shares in the last quarter. Bank of America Corp DE bought a new stake in Kodiak Gas Services during the second quarter valued at about $109,850,000. Finally, Kayne Anderson Capital Advisors LP purchased a new position in Kodiak Gas Services in the second quarter valued at about $84,821,000. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Piper Sandler started coverage on shares of Kodiak Gas Services in a research report on Tuesday, July 28th. They set an “overweight” rating and a $78.00 price objective for the company. Jefferies Financial Group lowered their price objective on Kodiak Gas Services from $69.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday. Barclays decreased their price target on Kodiak Gas Services from $72.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kodiak Gas Services in a research note on Wednesday, August 26th. Finally, Stifel Nicolaus increased their target price on shares of Kodiak Gas Services from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Kodiak Gas Services has an average rating of “Moderate Buy” and an average price target of $77.90.

About Kodiak Gas Services

Kodiak Gas Services, Inc (NYSE:KGS) provides contract natural gas compression services in the United States. The company helps oil and gas producers and midstream operators move natural gas through gathering systems, processing facilities, pipelines and other infrastructure by supplying and operating compression equipment.

Its services include the design, installation, commissioning, operation, maintenance and relocation of natural gas compression systems. Kodiak owns and manages a fleet of compressors that can be deployed for a range of applications, including gathering, processing, storage and transmission.