Empowered Funds LLC Makes New Investment in Kodiak Gas Services, Inc. $KGS

Empowered Funds LLC acquired a new stake in shares of Kodiak Gas Services, Inc. (NYSE:KGSFree Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 120,719 shares of the company’s stock, valued at approximately $9,070,000.

Several other institutional investors and hedge funds have also modified their holdings of KGS. Public Employees Retirement System of Ohio bought a new position in Kodiak Gas Services in the second quarter valued at approximately $29,000. Harbor Investment Advisory LLC bought a new position in shares of Kodiak Gas Services during the 2nd quarter worth approximately $76,000. Allworth Financial LP acquired a new stake in Kodiak Gas Services during the 2nd quarter worth approximately $80,000. State of Wyoming grew its position in Kodiak Gas Services by 201.7% during the fourth quarter. State of Wyoming now owns 1,219 shares of the company’s stock worth $46,000 after buying an additional 815 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Kodiak Gas Services by 1,501.3% in the 2nd 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 in the last quarter. 24.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Kodiak Gas Services

In other news, CAO Ewan William Hamilton sold 2,729 shares of the company’s stock in a transaction 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 directly owned 31,617 shares of the company’s stock, valued at approximately $2,169,558.54. This represents a 7.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert Michael Mckee sold 6,008 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $62.39, for a total transaction of $374,839.12. Following the sale, the chief executive officer owned 298,589 shares of the company’s stock, valued at approximately $18,628,967.71. This trade represents a 1.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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.

Kodiak Gas Services Stock Down 4.2%

Shares of NYSE KGS opened at $57.64 on Friday. The firm has a market cap of $5.83 billion, a PE ratio of 68.62, a price-to-earnings-growth ratio of 0.84 and a beta of 0.97. The company has a 50 day simple moving average of $64.28 and a 200 day simple moving average of $62.96. 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, Inc. has a 1 year low of $32.55 and a 1 year high of $77.68.

Kodiak Gas Services (NYSE:KGSGet Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.12). The business had revenue of $391.12 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 EPS. On average, research analysts forecast that Kodiak Gas Services, Inc. will post 2.44 EPS for the current year.

Kodiak Gas Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Monday, August 17th were issued a dividend of $0.49 per share. The ex-dividend date was Monday, August 17th. This represents a $1.96 annualized dividend and a yield of 3.4%. Kodiak Gas Services’s dividend payout ratio (DPR) is presently 233.33%.

Analyst Ratings Changes

KGS has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Kodiak Gas Services in a research report on Wednesday. Jefferies Financial Group reduced their price objective on shares of Kodiak Gas Services from $79.00 to $69.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Piper Sandler initiated coverage on shares of Kodiak Gas Services in a report on Tuesday, July 28th. They issued an “overweight” rating and a $78.00 target price on the stock. Citigroup boosted their target price on shares of Kodiak Gas Services from $63.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Finally, Barclays reduced their price target 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. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $78.89.

Get Our Latest Analysis on Kodiak Gas Services

Kodiak Gas Services Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Kodiak Gas Services (NYSE:KGS)

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