Covalis Capital LLP Invests $3.06 Million in Kodiak Gas Services, Inc. (NYSE:KGS)

Covalis Capital LLP purchased a new position in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 75,000 shares of the company's stock, valued at approximately $3,062,000. Covalis Capital LLP owned 0.09% of Kodiak Gas Services as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Kodiak Gas Services by 50.2% during the 4th quarter. FMR LLC now owns 7,342,296 shares of the company's stock worth $299,786,000 after buying an additional 2,452,492 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Kodiak Gas Services by 52.3% during the 4th quarter. Vanguard Group Inc. now owns 2,659,015 shares of the company's stock worth $108,568,000 after purchasing an additional 913,104 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Kodiak Gas Services by 1,154.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 681,641 shares of the company's stock valued at $27,832,000 after purchasing an additional 627,320 shares during the period. Augustine Asset Management Inc. grew its position in Kodiak Gas Services by 1,761.2% during the fourth quarter. Augustine Asset Management Inc. now owns 640,244 shares of the company's stock worth $26,141,000 after buying an additional 605,844 shares during the period. Finally, Burkehill Global Management LP purchased a new stake in shares of Kodiak Gas Services during the 4th quarter worth approximately $12,249,000. Institutional investors and hedge funds own 24.95% of the company's stock.

Insider Buying and Selling at Kodiak Gas Services

In other Kodiak Gas Services news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of the firm's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $47.50, for a total value of $177,112,157.50. Following the sale, the insider now directly owns 34,771,323 shares in the company, valued at approximately $1,651,637,842.50. This trade represents a 9.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.27% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on KGS shares. Raymond James reaffirmed an "outperform" rating on shares of Kodiak Gas Services in a research note on Friday, March 7th. Citigroup raised their price target on Kodiak Gas Services from $41.00 to $48.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Barclays decreased their price objective on Kodiak Gas Services from $41.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Royal Bank of Canada set a $45.00 target price on shares of Kodiak Gas Services and gave the company an "outperform" rating in a report on Tuesday, March 11th. Finally, Truist Financial upped their price objective on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Kodiak Gas Services has an average rating of "Moderate Buy" and a consensus price target of $41.45.

Kodiak Gas Services Trading Up 4.0 %

Shares of KGS stock traded up $1.32 during mid-day trading on Thursday, reaching $34.57. The company's stock had a trading volume of 397,452 shares, compared to its average volume of 1,136,124. Kodiak Gas Services, Inc. has a 12-month low of $24.83 and a 12-month high of $50.43. The firm has a market capitalization of $3.07 billion, a PE ratio of 119.20 and a beta of 1.52. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 1.86. The company's 50 day simple moving average is $37.19 and its 200-day simple moving average is $38.88.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.15). The firm had revenue of $309.52 million for the quarter, compared to analysts' expectations of $323.82 million. Kodiak Gas Services had a net margin of 2.23% and a return on equity of 7.91%. On average, research analysts predict that Kodiak Gas Services, Inc. will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.21%. This is a boost from Kodiak Gas Services's previous quarterly dividend of $0.41. Kodiak Gas Services's dividend payout ratio (DPR) is currently 277.97%.

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.