12,500 Shares in Kodiak Gas Services, Inc. $KGS Acquired by Brasada Capital Management LP

Key Points

• Brasada Capital Management LP acquired 12,500 shares of Kodiak Gas Services, Inc., worth approximately $466,000, signaling growing institutional interest in the company.
• Analysts have positive forecasts for Kodiak Gas Services, with several firms increasing their price targets and most giving the stock a "Buy" rating.
• Kodiak Gas Services declared a quarterly dividend of $0.45 and announced a stock buyback plan of $50 million, indicating confidence in its financial stability.

Brasada Capital Management LP purchased a new position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 12,500 shares of the company's stock, valued at approximately $466,000.

Other large investors also recently added to or reduced their stakes in the company. Amalgamated Bank lifted its holdings in Kodiak Gas Services by 40.0% in the 1st quarter. Amalgamated Bank now owns 1,554 shares of the company's stock worth $58,000 after purchasing an additional 444 shares in the last quarter. Rhumbline Advisers lifted its holdings in Kodiak Gas Services by 37.3% in the 1st quarter. Rhumbline Advisers now owns 60,450 shares of the company's stock worth $2,255,000 after purchasing an additional 16,408 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Kodiak Gas Services by 3,401.8% in the 1st quarter. GAMMA Investing LLC now owns 24,618 shares of the company's stock worth $918,000 after purchasing an additional 23,915 shares in the last quarter. KBC Group NV purchased a new position in Kodiak Gas Services in the 1st quarter worth approximately $116,000. Finally, Bank of New York Mellon Corp lifted its holdings in Kodiak Gas Services by 13.4% in the 1st quarter. Bank of New York Mellon Corp now owns 443,666 shares of the company's stock worth $16,549,000 after purchasing an additional 52,522 shares in the last quarter. 24.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KGS. Mizuho boosted their price target on Kodiak Gas Services from $45.00 to $47.00 and gave the stock an "outperform" rating in a report on Friday. Barclays upped their price objective on Kodiak Gas Services from $36.00 to $37.00 and gave the stock an "equal weight" rating in a report on Thursday, August 14th. JPMorgan Chase & Co. reaffirmed a "buy" rating and set a $43.00 price objective (up from $42.00) on shares of Kodiak Gas Services in a report on Monday, June 23rd. Finally, Royal Bank Of Canada upped their price objective on Kodiak Gas Services from $42.00 to $43.00 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $41.30.

Kodiak Gas Services Stock Performance

Shares of Kodiak Gas Services stock opened at $35.85 on Friday. The stock's fifty day moving average is $33.37 and its two-hundred day moving average is $35.42. The company has a market capitalization of $3.15 billion, a PE ratio of 39.83 and a beta of 1.33. The company has a quick ratio of 0.78, a current ratio of 1.10 and a debt-to-equity ratio of 1.89. Kodiak Gas Services, Inc. has a 52 week low of $25.21 and a 52 week high of $50.43.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. The company had revenue of $322.84 million for the quarter, compared to the consensus estimate of $335.10 million. Kodiak Gas Services had a return on equity of 10.35% and a net margin of 6.48%.Kodiak Gas Services's quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.06 EPS. As a group, analysts expect that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current year.

Kodiak Gas Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 4th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Monday, August 4th. Kodiak Gas Services's dividend payout ratio is 200.00%.

Kodiak Gas Services declared that its Board of Directors has approved a stock buyback plan on Monday, August 11th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 1.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

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.

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