1,462,131 Shares in Kodiak Gas Services, Inc. $KGS Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 1.46 million shares of Kodiak Gas Services during the second quarter, valued at approximately $109.9 million and representing about 1.45% of the company. Institutional investors and hedge funds collectively own 24.95% of KGS.
• Kodiak reported quarterly revenue of $391.1 million, up 21.2% year over year and above estimates, but earnings per share of $0.55 missed consensus by $0.12. The company pays a quarterly dividend of $0.49 per share, equivalent to a 3.3% annualized yield.
• Analysts maintain a generally positive outlook, with 10 Buy ratings and two Holds; the consensus rating is Moderate Buy with a target price of $78.89, versus a recent share price of $58.78.

Bank of America Corp DE bought a new stake in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,462,131 shares of the company's stock, valued at approximately $109,850,000. Bank of America Corp DE owned about 1.45% of Kodiak Gas Services as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of KGS. BlackRock Inc. acquired a new position in shares of Kodiak Gas Services in the 2nd quarter valued at about $1,142,139,000. Dimensional Fund Advisors LP lifted its holdings in Kodiak Gas Services by 4.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,105,555 shares of the company's stock valued at $181,108,000 after acquiring an additional 135,998 shares during the period. Kayne Anderson Capital Advisors LP purchased a new stake in Kodiak Gas Services in the 2nd quarter worth approximately $84,821,000. Bank of New York Mellon Corp purchased a new stake in Kodiak Gas Services in the 2nd quarter worth approximately $73,623,000. Finally, Geode Capital Management LLC grew its stake in shares of Kodiak Gas Services by 27.0% during the 4th quarter. Geode Capital Management LLC now owns 1,931,154 shares of the company's stock worth $72,237,000 after purchasing an additional 411,017 shares during the period. Institutional investors and hedge funds own 24.95% of the company's stock.

Insider Buying and Selling at Kodiak Gas Services

In other news, COO William Lenamon sold 1,000 shares of the business's stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $63.21, for a total transaction of $63,210.00. Following the transaction, the chief operating officer directly owned 85,294 shares in the company, valued at $5,391,433.74. The trade was a 1.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Pedro R. Buhigas sold 3,663 shares of the company's stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $58.14, for a total value of $212,966.82. Following the completion of the sale, the insider owned 32,413 shares of the company's stock, valued at $1,884,491.82. This trade represents a 10.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 21,839 shares of company stock worth $1,359,599 in the last 90 days. 0.64% of the stock is currently owned by insiders.

Kodiak Gas Services Stock Up 0.9%

Shares of KGS opened at $58.78 on Friday. The stock has a 50 day moving average price of $61.32 and a 200 day moving average price of $63.94. Kodiak Gas Services, Inc. has a one year low of $32.55 and a one year high of $77.68. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.15 and a current ratio of 1.45. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 69.98, a PEG ratio of 0.85 and a beta of 0.96.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.55 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.12). Kodiak Gas Services had a net margin of 5.77% and a return on equity of 11.92%. The firm had revenue of $391.12 million during the quarter, compared to analysts' expectations of $386.30 million. During the same quarter in the previous year, the business posted $0.43 EPS. The company's revenue for the quarter was up 21.2% on a year-over-year basis. Equities research analysts forecast that Kodiak Gas Services, Inc. will post 2.44 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Monday, August 17th were given a dividend of $0.49 per share. The ex-dividend date was Monday, August 17th. This represents a $1.96 dividend on an annualized basis and a yield of 3.3%. Kodiak Gas Services's payout ratio is presently 233.33%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Kodiak Gas Services from $90.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. Wells Fargo & Company started coverage on shares of Kodiak Gas Services in a research report on Wednesday, May 27th. They set an "overweight" rating and a $93.00 price target on the stock. Jefferies Financial Group cut their price objective on shares of Kodiak Gas Services from $79.00 to $69.00 and set a "buy" rating for the company in a report on Monday, August 10th. Piper Sandler initiated coverage on shares of Kodiak Gas Services in a research report on Tuesday, July 28th. They issued an "overweight" rating and a $78.00 price objective for the company. Finally, Barclays lowered their target price on shares of Kodiak Gas Services from $76.00 to $72.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 8th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $78.89.

Kodiak Gas Services Profile

Kodiak Gas Services, Inc NYSE: KGS provides natural gas compression services to producers, processors, gatherers and other midstream companies in the United States. Its compression equipment increases and maintains the pressure of natural gas as it moves from production sites through gathering systems, processing facilities and pipelines.

The company primarily operates under long-term contracts and offers compression-as-a-service solutions. Its services include the design, installation, operation, maintenance, repair and overhaul of natural gas compression equipment.

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