Oppenheimer & Co. Inc. Buys New Position in Kodiak Gas Services, Inc. $KGS

Oppenheimer & Co. Inc. purchased a new position in Kodiak Gas Services, Inc. (NYSE:KGS) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,860 shares of the company’s stock, valued at approximately $681,000.

A number of other large investors have also made changes to their positions in KGS. BlackRock Inc. acquired a new position in shares of Kodiak Gas Services during the second quarter worth $1,142,139,000. Bank of America Corp DE purchased a new stake in shares of Kodiak Gas Services during the 2nd quarter valued at $109,850,000. Kayne Anderson Capital Advisors LP acquired a new stake in shares of Kodiak Gas Services in the 2nd quarter worth $84,821,000. Wellington Management Group LLP boosted its position in shares of Kodiak Gas Services by 85.0% in 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 in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Kodiak Gas Services in the 2nd quarter worth $73,623,000. 24.95% of the stock is owned by institutional investors and hedge funds.

Kodiak Gas Services Trading Down 11.5%

Shares of Kodiak Gas Services stock opened at $41.21 on Thursday. 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, Inc. has a 12-month low of $32.55 and a 12-month high of $77.68. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 49.06 and a beta of 1.07. The firm’s 50 day simple moving average is $53.66 and its two-hundred day simple moving average is $59.07.

Kodiak Gas Services (NYSE:KGS) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.55 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 company had revenue of $391.12 million for the quarter, compared to analyst estimates of $386.30 million. During the same quarter in the previous year, the firm posted $0.43 earnings per share. The company’s quarterly revenue was up 21.2% on a year-over-year basis. Analysts predict that Kodiak Gas Services, Inc. will post 2.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Kodiak Gas Services in a research note on Wednesday, August 26th. Piper Sandler started coverage on Kodiak Gas Services in a research note on Tuesday, July 28th. They issued an “overweight” rating and a $78.00 price target for the company. Barclays lowered their price target on Kodiak Gas Services from $72.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, October 5th. Bank of America dropped their price target on Kodiak Gas Services from $83.00 to $74.00 and set a “buy” rating on the stock in a research note on Tuesday, October 27th. Finally, Royal Bank Of Canada dropped their price target on Kodiak Gas Services from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Kodiak Gas Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.18.

Insider Activity

In related news, CEO Robert McKee sold 2,666 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $45.55, for a total value of $121,436.30. Following the completion of the transaction, the chief executive officer owned 287,258 shares in the company, valued at $13,084,601.90. This trade represents a 0.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO William Lenamon sold 1,000 shares of Kodiak Gas Services stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $53.25, for a total value of $53,250.00. Following the sale, the chief operating officer directly owned 84,294 shares of the company’s stock, valued at approximately $4,488,655.50. This represents a 1.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 23,002 shares of company stock valued at $1,325,334 over the last ninety days. 0.64% of the stock is currently owned by insiders.

Kodiak Gas Services Profile

Kodiak Gas Services, Inc (NYSE: KGS) provides contract compression and related infrastructure services to the North American oil and gas industry. The company helps producers and midstream operators move natural gas through gathering systems, processing facilities and pipelines by supplying compression equipment and operating it under long-term service arrangements.

Its services include the design, installation, operation and maintenance of natural gas compression systems. Kodiak owns and manages a fleet of compression units that can be deployed across a range of applications, including natural gas gathering and processing.