Greenland Capital Management LP bought a new stake in Kodiak Gas Services, Inc. (NYSE:KGS – Free Report) during the second quarter, Holdings Channel.com reports. The firm bought 10,000 shares of the company’s stock, valued at approximately $751,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Kodiak Gas Services during the second quarter worth $1,142,139,000. Vanguard Group Inc. boosted its holdings in shares of Kodiak Gas Services by 33.8% during the 4th quarter. Vanguard Group Inc. now owns 6,170,360 shares of the company’s stock valued at $230,771,000 after acquiring an additional 1,559,172 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Kodiak Gas Services by 29.5% during the 3rd quarter. Invesco Ltd. now owns 6,305,789 shares of the company’s stock valued at $233,125,000 after acquiring an additional 1,436,443 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of Kodiak Gas Services by 3,046.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,471,663 shares of the company’s stock valued at $55,040,000 after acquiring an additional 1,424,888 shares in the last quarter. Finally, Zimmer Partners LP grew its position in Kodiak Gas Services by 45.7% during the 4th quarter. Zimmer Partners LP now owns 4,271,553 shares of the company’s stock worth $159,756,000 after acquiring an additional 1,339,849 shares during the last quarter. Institutional investors own 24.95% of the company’s stock.
Kodiak Gas Services Trading Up 1.1%
Shares of KGS stock opened at $61.28 on Friday. Kodiak Gas Services, Inc. has a 1-year low of $32.55 and a 1-year high of $77.68. The company has a current ratio of 1.45, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 72.95, a PEG ratio of 0.89 and a beta of 0.97. The stock has a 50-day moving average of $65.19 and a 200-day moving average of $62.44.
Kodiak Gas Services Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Monday, August 17th will be given a $0.49 dividend. The ex-dividend date is Monday, August 17th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.2%. Kodiak Gas Services’s payout ratio is 233.33%.
Insider Transactions at Kodiak Gas Services
In other news, CEO Robert Michael Mckee sold 6,008 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $62.39, for a total transaction of $374,839.12. Following the completion of the sale, the chief executive officer directly owned 298,589 shares in the company, valued at $18,628,967.71. This represents a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Ewan William Hamilton sold 2,729 shares of Kodiak Gas Services stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $68.62, for a total transaction of $187,263.98. Following the transaction, the chief accounting officer directly owned 31,617 shares of the company’s stock, valued at $2,169,558.54. This represents a 7.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 19,531 shares of company stock worth $1,296,158. Company insiders own 0.64% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have issued reports on KGS. Citigroup upped their target price on Kodiak Gas Services from $63.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Royal Bank Of Canada lifted their price target on Kodiak Gas Services from $84.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, August 13th. Zacks Research upgraded Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Jefferies Financial Group lowered their price objective on 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. Finally, The Goldman Sachs Group raised their price objective on shares of Kodiak Gas Services from $69.00 to $88.00 and gave the company a “buy” rating in a report on Friday, May 15th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.89.
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. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings.
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