Kornitzer Capital Management Inc. KS grew its holdings in Kodiak Gas Services, Inc. (NYSE:KGS – Free Report) by 77.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 76,295 shares of the company’s stock after acquiring an additional 33,335 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Kodiak Gas Services were worth $4,041,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Advisors Preferred LLC bought a new stake in shares of Kodiak Gas Services during the 2nd quarter valued at about $1,986,000. Hsbc Holdings PLC purchased a new position in shares of Kodiak Gas Services during the second quarter valued at about $2,486,000. Crown Advisors Management Inc. purchased a new position in shares of Kodiak Gas Services during the second quarter valued at about $4,508,000. Copeland Capital Management LLC raised its stake in Kodiak Gas Services by 39.2% in the third quarter. Copeland Capital Management LLC now owns 662,857 shares of the company’s stock worth $35,112,000 after buying an additional 186,822 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in Kodiak Gas Services in the second quarter worth about $882,000. 24.95% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have commented on the company. Piper Sandler assumed coverage on Kodiak Gas Services in a research report on Tuesday, July 28th. They set an “overweight” rating and a $78.00 price objective for the company. Stifel Nicolaus increased their price target on shares of Kodiak Gas Services from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada lowered their price target on shares of Kodiak Gas Services from $88.00 to $82.00 and set an “outperform” rating for the company in a research report on Friday, October 16th. JPMorgan Chase & Co. lowered their price target on shares of Kodiak Gas Services from $79.00 to $78.00 and set an “overweight” rating for the company in a research report on Thursday, October 8th. Finally, Citigroup dropped their price objective on shares of Kodiak Gas Services from $86.00 to $82.00 and set a “buy” rating on the stock in a research note on Friday, October 9th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.09.
Get Our Latest Report on Kodiak Gas Services
Insider Activity
In other news, CEO Robert McKee sold 6,008 shares of Kodiak Gas Services stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $62.39, for a total value of $374,839.12. Following the completion of the transaction, the chief executive officer owned 298,589 shares of the company’s stock, valued at $18,628,967.71. The trade was a 1.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pedro Buhigas sold 3,663 shares of the company’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $58.14, for a total transaction of $212,966.82. Following the completion of the transaction, the insider owned 32,413 shares in the company, valued at approximately $1,884,491.82. The trade was a 10.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 23,002 shares of company stock worth $1,325,334 over the last three months. 0.64% of the stock is currently owned by corporate insiders.
Kodiak Gas Services Stock Up 0.1%
KGS stock opened at $41.70 on Monday. The business has a 50 day moving average of $52.86 and a 200 day moving average of $59.09. The firm has a market cap of $4.23 billion, a PE ratio of 49.64 and a beta of 1.07. Kodiak Gas Services, Inc. has a twelve month low of $32.55 and a twelve month high of $77.68. The company has a quick ratio of 1.15, a current ratio of 1.45 and a debt-to-equity ratio of 1.28.
Kodiak Gas Services (NYSE:KGS – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.12). Kodiak Gas Services had a return on equity of 11.92% and a net margin of 5.77%. The company had revenue of $391.12 million during the quarter, compared to the consensus estimate of $386.30 million. During the same period last year, the firm posted $0.43 earnings per share. The company’s revenue was up 21.2% compared to the same quarter last year. On average, research analysts forecast that Kodiak Gas Services, Inc. will post 2.43 EPS for the current fiscal year.
Kodiak Gas Services Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 16th will be issued a dividend of $0.51 per share. The ex-dividend date is Monday, November 16th. This is a boost from Kodiak Gas Services’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 4.9%. Kodiak Gas Services’s dividend payout ratio is 233.33%.
About Kodiak Gas Services
Kodiak Gas Services provides contract natural gas compression services to energy companies in the United States. Its equipment helps move natural gas from production sites through gathering and processing systems and into pipelines.
The company supplies, installs, operates and maintains compression equipment, including large-horsepower compressor units. Its services support natural gas production and transportation across major U.S. oil and gas regions.
Based in The Woodlands, Texas, Kodiak became a publicly traded company in 2023.
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