BlackRock Inc. bought a new position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 15,202,166 shares of the company's stock, valued at approximately $1,142,139,000. BlackRock Inc. owned approximately 17.13% of Kodiak Gas Services as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of KGS. Harbor Investment Advisory LLC acquired a new position in shares of Kodiak Gas Services during the 2nd quarter worth about $76,000. State of Wyoming lifted its holdings in shares of Kodiak Gas Services by 201.7% during the fourth quarter. State of Wyoming now owns 1,219 shares of the company's stock worth $46,000 after buying an additional 815 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Kodiak Gas Services by 1,501.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company's stock valued at $42,000 after acquiring an additional 1,156 shares during the period. Hilltop National Bank acquired a new stake in shares of Kodiak Gas Services in the second quarter worth $102,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Kodiak Gas Services by 80.4% in the third quarter. PNC Financial Services Group Inc. now owns 1,449 shares of the company's stock worth $54,000 after acquiring an additional 646 shares during the last quarter. Institutional investors and hedge funds own 24.95% of the company's stock.
Insiders Place Their Bets
In other Kodiak Gas Services news, CEO Robert Michael Mckee sold 6,008 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $62.39, for a total transaction of $374,839.12. Following the completion of the sale, the chief executive officer directly owned 298,589 shares in the company, valued at $18,628,967.71. This trade represents a 1.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Ewan William Hamilton sold 2,729 shares of the business's stock in a transaction 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 sale, the chief accounting officer owned 31,617 shares of the company's stock, valued at $2,169,558.54. This trade represents a 7.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 19,531 shares of company stock worth $1,296,158 in the last three months. Insiders own 0.64% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have commented on KGS. Stifel Nicolaus raised their price objective on Kodiak Gas Services from $90.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Barclays lowered their price objective on Kodiak Gas Services from $76.00 to $72.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 8th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Kodiak Gas Services in a research report on Friday, May 29th. The Goldman Sachs Group lifted their price target on shares of Kodiak Gas Services from $69.00 to $88.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Finally, Citigroup boosted their price target on shares of Kodiak Gas Services from $63.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Kodiak Gas Services currently has a consensus rating of "Moderate Buy" and an average price target of $78.89.
Read Our Latest Report on KGS
Kodiak Gas Services Stock Performance
Shares of KGS stock opened at $61.28 on Friday. The stock has a market cap of $6.20 billion, a PE ratio of 72.95, a price-to-earnings-growth ratio of 0.88 and a beta of 0.97. The stock has a 50-day moving average of $65.19 and a 200-day moving average of $62.44. 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, Inc. has a one year low of $32.55 and a one year high of $77.68.
Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its quarterly earnings data 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). Kodiak Gas Services had a net margin of 5.77% and a return on equity of 11.92%. The business had revenue of $391.12 million during the quarter, compared to analyst estimates of $386.30 million. During the same quarter in the prior year, the firm posted $0.43 earnings per share. Kodiak Gas Services's revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, sell-side analysts expect that Kodiak Gas Services, Inc. will post 2.46 earnings per share for the current year.
Kodiak Gas Services Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Monday, August 17th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, August 17th. Kodiak Gas Services's dividend payout ratio is presently 233.33%.
Kodiak Gas Services Profile
(
Free Report)
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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