Crown Advisors Management Inc. bought a new position in Kodiak Gas Services, Inc. (NYSE:KGS – Free Report) during the 2nd quarter, HoldingsChannel reports. The fund bought 60,000 shares of the company’s stock, valued at approximately $4,508,000. Kodiak Gas Services makes up 2.5% of Crown Advisors Management Inc.’s investment portfolio, making the stock its 12th largest position.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KGS. Harbor Investment Advisory LLC purchased a new stake in Kodiak Gas Services during the 2nd quarter valued at $76,000. State of Wyoming grew its holdings in Kodiak Gas Services by 201.7% in the 4th quarter. State of Wyoming now owns 1,219 shares of the company’s stock worth $46,000 after acquiring an additional 815 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Kodiak Gas Services by 1,501.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company’s stock valued at $42,000 after acquiring an additional 1,156 shares during the period. Hilltop National Bank purchased a new position in shares of Kodiak Gas Services in the second quarter valued at about $102,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Kodiak Gas Services by 80.4% in the third quarter. PNC Financial Services Group Inc. now owns 1,449 shares of the company’s stock valued at $54,000 after acquiring an additional 646 shares during the period. 24.95% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have recently weighed in on KGS shares. Citigroup increased their target price on shares of Kodiak Gas Services from $63.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. The Goldman Sachs Group lifted their price objective on Kodiak Gas Services from $69.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Stifel Nicolaus boosted their target price on Kodiak Gas Services from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Piper Sandler began coverage on Kodiak Gas Services in a report on Tuesday, July 28th. They set an “overweight” rating and a $78.00 target price for the company. Finally, Jefferies Financial Group dropped their price target 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. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Kodiak Gas Services currently has a consensus rating of “Moderate Buy” and an average price target of $78.89.
Kodiak Gas Services Price Performance
KGS stock opened at $65.43 on Monday. Kodiak Gas Services, Inc. has a 1 year low of $32.55 and a 1 year high of $77.68. The company has a market cap of $6.61 billion, a P/E ratio of 77.89, a PEG ratio of 0.95 and a beta of 0.98. The firm has a 50-day moving average of $65.72 and a 200 day moving average of $61.86. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.45 and a quick ratio of 1.15.
Kodiak Gas Services (NYSE:KGS – Get Free Report) last issued 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). The company had revenue of $391.12 million during the quarter, compared to analysts’ expectations of $386.30 million. Kodiak Gas Services had a return on equity of 11.92% and a net margin of 5.77%.The business’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the business earned $0.43 earnings per share. On average, sell-side analysts forecast that Kodiak Gas Services, Inc. will post 2.46 EPS for the current year.
Kodiak Gas Services Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Monday, August 17th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, August 17th. Kodiak Gas Services’s dividend payout ratio (DPR) is presently 233.33%.
Insider Transactions at Kodiak Gas Services
In related news, EVP Cory Anne Roclawski sold 4,169 shares of Kodiak Gas Services stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $68.36, for a total transaction of $284,992.84. Following the sale, the executive vice president directly owned 24,662 shares in the company, valued at $1,685,894.32. The trade was a 14.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Ewan William Hamilton sold 2,729 shares of Kodiak Gas Services stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $68.62, for a total value of $187,263.98. Following the sale, the chief accounting officer owned 31,617 shares in the company, valued at $2,169,558.54. This represents a 7.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 13,523 shares of company stock worth $921,319. 0.64% of the stock is owned by company insiders.
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.
Featured Stories
- Five stocks we like better than Kodiak Gas Services
- The Metals Company’s Big Bet Now Comes Down to a License
- OneSpaWorld Keeps Turning Cruise Demand Into Record Earnings
- Meta and Tesla Are Rebounding From Oversold Levels—Now What?
- AMG’s Alternatives Boom Powers Record Growth
Want to see what other hedge funds are holding KGS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kodiak Gas Services, Inc. (NYSE:KGS – Free Report).
Receive News & Ratings for Kodiak Gas Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kodiak Gas Services and related companies with MarketBeat.com's FREE daily email newsletter.
