BROOKFIELD Corp ON lessened its stake in Kodiak Gas Services, Inc. (NYSE:KGS – Free Report) by 64.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 278,137 shares of the company’s stock after selling 510,236 shares during the quarter. BROOKFIELD Corp ON owned about 0.31% of Kodiak Gas Services worth $16,221,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its stake in Kodiak Gas Services by 29.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 901,406 shares of the company’s stock valued at $33,713,000 after purchasing an additional 203,809 shares in the last quarter. Westend Capital Management LLC bought a new stake in shares of Kodiak Gas Services in the 4th quarter valued at $13,585,000. Maven Securities LTD raised its stake in Kodiak Gas Services by 694.0% during the 4th quarter. Maven Securities LTD now owns 100,000 shares of the company’s stock worth $3,740,000 after buying an additional 87,406 shares during the period. HighTower Advisors LLC grew its stake in Kodiak Gas Services by 40.5% in the fourth quarter. HighTower Advisors LLC now owns 57,699 shares of the company’s stock valued at $2,158,000 after acquiring an additional 16,619 shares during the period. Finally, Hiddenite Capital Partners LP bought a new stake in shares of Kodiak Gas Services in the fourth quarter worth about $11,220,000. 24.95% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts recently issued reports on KGS shares. Citigroup boosted their price objective 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. Zacks Research raised shares of Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Kodiak Gas Services in a report on Friday, May 29th. Barclays cut their price objective on shares of Kodiak Gas Services from $76.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 8th. Finally, The Goldman Sachs Group increased their target price on Kodiak Gas Services from $69.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.50.
Insider Buying and Selling
In other Kodiak Gas Services news, EVP Cory Anne Roclawski sold 4,169 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $68.36, for a total value of $284,992.84. Following the completion of the transaction, the executive vice president directly owned 24,662 shares in the company, valued at $1,685,894.32. This trade represents a 14.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Ewan William Hamilton sold 2,729 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $68.62, for a total value of $187,263.98. Following the transaction, the chief accounting officer directly owned 31,617 shares in the company, valued at $2,169,558.54. This trade represents a 7.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,523 shares of company stock worth $921,319 in the last three months. Insiders own 0.64% of the company’s stock.
Kodiak Gas Services Stock Performance
Shares of KGS stock opened at $58.90 on Monday. Kodiak Gas Services, Inc. has a 12 month low of $30.06 and a 12 month high of $77.68. The company’s fifty day simple moving average is $69.05 and its 200-day simple moving average is $59.56. The firm has a market cap of $5.23 billion, a PE ratio of 79.59, a P/E/G ratio of 0.93 and a beta of 0.89. 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 – Get Free Report) last released its earnings results on Monday, May 11th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. Kodiak Gas Services had a net margin of 5.13% and a return on equity of 13.12%. The business had revenue of $345.76 million during the quarter, compared to the consensus estimate of $340.23 million. During the same quarter last year, the firm earned $0.33 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts expect that Kodiak Gas Services, Inc. will post 2.27 EPS for the current fiscal year.
Kodiak Gas Services Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were issued a $0.49 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.96 annualized dividend and a dividend yield of 3.3%. Kodiak Gas Services’s dividend payout ratio (DPR) is presently 264.86%.
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.
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