152,998 Shares in Kodiak Gas Services, Inc. $KGS Bought by Healthcare of Ontario Pension Plan Trust Fund

Key Points

• Healthcare of Ontario Pension Plan Trust Fund acquired 152,998 Kodiak Gas Services shares worth approximately $8.9 million, while other institutional investors also increased their positions; institutions now own 24.95% of the stock.
• Analysts remain broadly positive, with 10 Buy ratings and two Holds. The consensus rating is Moderate Buy, with an average price target of $79.33 after several firms raised their targets.
• Kodiak exceeded quarterly earnings expectations, reporting $0.59 EPS and $345.76 million in revenue, up 4.9% year over year. Shares opened at $56.42, while the company maintains a quarterly dividend of $0.49 per share.

Healthcare of Ontario Pension Plan Trust Fund bought a new position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 152,998 shares of the company's stock, valued at approximately $8,923,000. Healthcare of Ontario Pension Plan Trust Fund owned 0.17% of Kodiak Gas Services at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its position in shares of Kodiak Gas Services by 45.9% during the first quarter. Renaissance Technologies LLC now owns 838,622 shares of the company's stock worth $48,908,000 after acquiring an additional 263,700 shares during the last quarter. Compound Planning Inc. bought a new stake in Kodiak Gas Services in the 1st quarter valued at about $596,000. Keebeck Wealth Management bought a new stake in Kodiak Gas Services in the 1st quarter valued at about $201,000. Caxton Associates LLP bought a new stake in Kodiak Gas Services in the 1st quarter valued at about $1,051,000. Finally, Sei Investments Co. boosted its stake in Kodiak Gas Services by 159.6% during the 1st quarter. Sei Investments Co. now owns 40,760 shares of the company's stock valued at $2,377,000 after purchasing an additional 25,057 shares during the period. 24.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup upped their target price on shares of Kodiak Gas Services from $63.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Royal Bank Of Canada boosted their price objective on Kodiak Gas Services from $64.00 to $84.00 and gave the stock an "outperform" rating in a research report on Monday, May 18th. Zacks Research upgraded Kodiak Gas Services from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 6th. The Goldman Sachs Group boosted their price target on Kodiak Gas Services from $69.00 to $88.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Kodiak Gas Services in a research note on Friday, May 29th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Kodiak Gas Services currently has an average rating of "Moderate Buy" and a consensus target price of $79.33.

Insiders Place Their Bets

In other Kodiak Gas Services news, COO William Chad Lenamon sold 1,000 shares of Kodiak Gas Services stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $67.79, for a total transaction of $67,790.00. Following the transaction, the chief operating officer owned 87,294 shares of the company's stock, valued at $5,917,660.26. The trade was a 1.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Ewan William Hamilton sold 2,729 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $68.62, for a total transaction of $187,263.98. Following the completion of the sale, the chief accounting officer directly 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 disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 13,523 shares of company stock valued at $921,319. 0.64% of the stock is owned by insiders.

Kodiak Gas Services Stock Down 2.3%

Shares of NYSE:KGS opened at $56.42 on Wednesday. The firm has a 50 day simple moving average of $68.30 and a 200 day simple moving average of $59.86. Kodiak Gas Services, Inc. has a 52 week low of $30.06 and a 52 week high of $77.68. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.99 and a current ratio of 1.28. The company has a market cap of $5.01 billion, a PE ratio of 76.25, a price-to-earnings-growth ratio of 0.90 and a beta of 0.89.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.05. Kodiak Gas Services had a net margin of 5.13% and a return on equity of 13.12%. The firm had revenue of $345.76 million for the quarter, compared to analysts' expectations of $340.23 million. During the same period in the previous year, the company posted $0.33 EPS. The company's quarterly revenue was up 4.9% compared to the same quarter last year. As a group, research analysts expect that Kodiak Gas Services, Inc. will post 2.27 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, May 28th. Investors of record on Monday, May 18th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Monday, May 18th. Kodiak Gas Services's dividend payout ratio is currently 264.86%.

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. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.