UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in shares of Kodiak Gas Services, Inc. (NYSE:KGS – Free Report) by 9.0% during the second quarter, Holdings Channel.com reports. The firm owned 163,851 shares of the company’s stock after selling 16,278 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Kodiak Gas Services were worth $12,310,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Van ECK Associates Corp increased its position in shares of Kodiak Gas Services by 0.9% during the 4th quarter. Van ECK Associates Corp now owns 23,640 shares of the company’s stock valued at $884,000 after purchasing an additional 209 shares during the period. PNC Financial Services Group Inc. grew its position in Kodiak Gas Services by 29.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,545 shares of the company’s stock worth $90,000 after buying an additional 352 shares during the last quarter. Comerica Bank raised its position in shares of Kodiak Gas Services by 1.8% during the fourth quarter. Comerica Bank now owns 20,499 shares of the company’s stock worth $767,000 after purchasing an additional 357 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Kodiak Gas Services during the 2nd quarter worth about $29,000. Finally, Aurora Investment Counsel raised its holdings in shares of Kodiak Gas Services by 0.6% during the fourth quarter. Aurora Investment Counsel now owns 67,192 shares of the company’s stock valued at $2,513,000 after acquiring an additional 397 shares during the period. Institutional investors and hedge funds own 24.95% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on KGS shares. Citigroup upped their price target 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. Stifel Nicolaus raised their price target on shares of Kodiak Gas Services from $90.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Piper Sandler began coverage on Kodiak Gas Services in a report on Tuesday, July 28th. They issued an “overweight” rating and a $78.00 target price for the company. Jefferies Financial Group cut their target price on shares of Kodiak Gas Services from $79.00 to $69.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Finally, Wells Fargo & Company started coverage on Kodiak Gas Services in a research note on Wednesday, May 27th. They set an “overweight” rating and a $93.00 target price for the company. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Kodiak Gas Services presently has an average rating of “Moderate Buy” and a consensus target price of $78.89.
Insiders Place Their Bets
In related news, insider Pedro Buhigas sold 4,625 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $67.78, for a total transaction of $313,482.50. Following the transaction, the insider directly owned 38,454 shares in the company, valued at $2,606,412.12. The trade was a 10.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Ewan Hamilton sold 2,729 shares of the company’s 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 completion of the transaction, the chief accounting officer directly owned 31,617 shares of the company’s stock, valued at approximately $2,169,558.54. This trade represents a 7.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 25,530 shares of company stock valued at $1,651,959 in the last quarter. 0.64% of the stock is currently owned by insiders.
Kodiak Gas Services Price Performance
NYSE:KGS opened at $62.53 on Monday. The stock has a market cap of $6.32 billion, a P/E ratio of 74.44, a PEG ratio of 0.91 and a beta of 0.96. Kodiak Gas Services, Inc. has a one year low of $32.55 and a one year high of $77.68. The company has a fifty day moving average price of $63.12 and a 200 day moving average price of $63.40. 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 posted its quarterly earnings results on Thursday, August 6th. The company reported $0.55 earnings per share (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 analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 earnings per share. Analysts anticipate that Kodiak Gas Services, Inc. will post 2.44 earnings per share for the current year.
Kodiak Gas Services Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Monday, August 17th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Monday, August 17th. Kodiak Gas Services’s dividend payout ratio (DPR) is presently 233.33%.
Kodiak Gas Services 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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