Geode Capital Management LLC Buys 411,017 Shares of Kodiak Gas Services, Inc. $KGS

Geode Capital Management LLC raised its stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 27.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,931,154 shares of the company’s stock after acquiring an additional 411,017 shares during the quarter. Geode Capital Management LLC’s holdings in Kodiak Gas Services were worth $72,237,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in Kodiak Gas Services by 492.8% during the third quarter. Principal Financial Group Inc. now owns 399,041 shares of the company’s stock valued at $14,753,000 after buying an additional 331,732 shares in the last quarter. Public Sector Pension Investment Board bought a new position in Kodiak Gas Services during the third quarter valued at about $9,491,000. Rhumbline Advisers raised its holdings in Kodiak Gas Services by 126.9% during the third quarter. Rhumbline Advisers now owns 179,160 shares of the company’s stock valued at $6,624,000 after buying an additional 100,194 shares in the last quarter. Westend Capital Management LLC bought a new position in Kodiak Gas Services during the fourth quarter valued at about $13,585,000. Finally, HighTower Advisors LLC raised its holdings in Kodiak Gas Services by 40.5% during the fourth quarter. HighTower Advisors LLC now owns 57,699 shares of the company’s stock valued at $2,158,000 after buying an additional 16,619 shares in the last quarter. 24.95% of the stock is currently owned by institutional investors.

Kodiak Gas Services Stock Up 3.9%

KGS stock opened at $67.65 on Tuesday. Kodiak Gas Services, Inc. has a twelve month low of $30.06 and a twelve month high of $77.68. The company has a market cap of $6.01 billion, a PE ratio of 91.41, a price-to-earnings-growth ratio of 0.91 and a beta of 0.94. The business’s 50-day simple moving average is $66.59 and its 200 day simple moving average is $51.80. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 2.38.

Kodiak Gas Services (NYSE:KGS) last released its earnings results on Monday, May 11th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. Kodiak Gas Services had a return on equity of 13.12% and a net margin of 5.13%.The business had revenue of $345.76 million for the quarter, compared to the consensus estimate of $340.23 million. During the same period last year, the business earned $0.33 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, research analysts anticipate that Kodiak Gas Services, Inc. will post 2.35 earnings per share for the current year.

Kodiak Gas Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Monday, May 18th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.96 dividend on an annualized basis and a yield of 2.9%. Kodiak Gas Services’s dividend payout ratio (DPR) is 264.86%.

Analyst Ratings Changes

KGS has been the topic of several recent research reports. Zacks Research upgraded Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Citigroup raised their price target on Kodiak Gas Services from $63.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Royal Bank Of Canada raised their price target on Kodiak Gas Services from $64.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, May 18th. Barclays raised their price target on Kodiak Gas Services from $60.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Finally, The Goldman Sachs Group raised their price target on Kodiak Gas Services from $69.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.22.

Insider Buying and Selling at Kodiak Gas Services

In other news, Director Randall J. Hogan bought 6,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average cost of $54.81 per share, with a total value of $328,860.00. Following the completion of the transaction, the director directly owned 28,406 shares in the company, valued at $1,556,932.86. This represents a 26.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pedro R. Buhigas sold 13,942 shares of Kodiak Gas Services stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $55.73, for a total value of $776,987.66. Following the sale, the insider directly owned 42,723 shares in the company, valued at approximately $2,380,952.79. This trade represents a 24.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 58,673 shares of company stock valued at $3,269,110 over the last quarter. Company insiders own 0.64% of the company’s stock.

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. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings.