Price T Rowe Associates Inc. MD Raises Stake in Kodiak Gas Services, Inc. (NYSE:KGS)

Price T Rowe Associates Inc. MD lifted its position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 14.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,650,183 shares of the company’s stock after buying an additional 202,050 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 1.88% of Kodiak Gas Services worth $67,379,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of KGS. Barclays PLC grew its holdings in shares of Kodiak Gas Services by 209.3% during the third quarter. Barclays PLC now owns 42,350 shares of the company’s stock worth $1,228,000 after buying an additional 28,658 shares in the last quarter. Geode Capital Management LLC grew its holdings in Kodiak Gas Services by 16.8% in the third quarter. Geode Capital Management LLC now owns 547,815 shares of the company’s stock valued at $15,890,000 after purchasing an additional 78,811 shares during the period. Tidal Investments LLC purchased a new stake in Kodiak Gas Services in the third quarter valued at approximately $598,000. Franklin Resources Inc. purchased a new stake in Kodiak Gas Services in the third quarter valued at approximately $1,242,000. Finally, B. Riley Wealth Advisors Inc. grew its holdings in Kodiak Gas Services by 3.4% in the third quarter. B. Riley Wealth Advisors Inc. now owns 12,455 shares of the company’s stock valued at $371,000 after purchasing an additional 405 shares during the period. 24.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on KGS shares. Mizuho boosted their target price on shares of Kodiak Gas Services from $47.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Raymond James restated an “outperform” rating on shares of Kodiak Gas Services in a report on Friday, March 7th. Royal Bank of Canada set a $45.00 target price on shares of Kodiak Gas Services and gave the company an “outperform” rating in a report on Tuesday, March 11th. Truist Financial lifted their price target on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Finally, Barclays reduced their price target on shares of 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. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.45.

Insider Activity

In related news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of Kodiak Gas Services stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $47.50, for a total value of $177,112,157.50. Following the completion of the transaction, the insider now directly owns 34,771,323 shares in the company, valued at approximately $1,651,637,842.50. This trade represents a 9.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.27% of the company’s stock.

Kodiak Gas Services Stock Performance

NYSE:KGS opened at $35.41 on Tuesday. The firm has a 50-day moving average of $36.54 and a two-hundred day moving average of $39.04. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.27 and a quick ratio of 0.93. The stock has a market cap of $3.14 billion, a P/E ratio of 122.11 and a beta of 1.52. 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 announced its earnings results on Wednesday, March 5th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.15). The business had revenue of $309.52 million for the quarter, compared to analyst estimates of $323.82 million. Kodiak Gas Services had a net margin of 2.23% and a return on equity of 7.91%. On average, research analysts expect that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current fiscal year.

Kodiak Gas Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, May 5th. This is an increase from Kodiak Gas Services’s previous quarterly dividend of $0.41. This represents a $1.80 annualized dividend and a dividend yield of 5.08%. Kodiak Gas Services’s dividend payout ratio (DPR) is currently 305.08%.

Kodiak Gas Services Company 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.