32,375 Shares in Kodiak Gas Services, Inc. $KGS Bought by Hsbc Holdings PLC

Key Points

• HSBC Holdings bought 32,375 shares of Kodiak Gas Services in the second quarter, valued at approximately $2.5 million. Institutional investors own 24.95% of the company, including sizable positions held by BlackRock, Invesco, Zimmer Partners and State Street.
• Analysts remain broadly positive, with 10 Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $78.89, above the stock’s reported $63.83 price.
• Although quarterly revenue rose 21.2% year over year to $391.1 million, Kodiak missed earnings estimates, reporting $0.55 per share versus the $0.67 consensus. The company also pays a quarterly dividend of $0.49 per share, representing a 3.1% annualized yield.

Hsbc Holdings PLC bought a new stake in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 32,375 shares of the company's stock, valued at approximately $2,486,000.

Several other institutional investors also recently bought and sold shares of KGS. BlackRock Inc. purchased a new stake in shares of Kodiak Gas Services during the second quarter valued at approximately $1,142,139,000. Invesco Ltd. boosted its position in Kodiak Gas Services by 20.4% during the 4th quarter. Invesco Ltd. now owns 7,593,274 shares of the company's stock valued at $283,988,000 after buying an additional 1,287,485 shares during the period. Zimmer Partners LP grew its holdings in Kodiak Gas Services by 45.7% in the 4th quarter. Zimmer Partners LP now owns 4,271,553 shares of the company's stock worth $159,756,000 after acquiring an additional 1,339,849 shares during the last quarter. State Street Corp grew its holdings in Kodiak Gas Services by 31.8% in the 4th quarter. State Street Corp now owns 3,340,008 shares of the company's stock worth $124,916,000 after acquiring an additional 806,191 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of 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. 24.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KGS has been the subject of a number of analyst reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of Kodiak Gas Services in a report on Wednesday, August 26th. Barclays reduced their price target on Kodiak Gas Services from $76.00 to $72.00 and set an "overweight" rating on the stock in a report on Wednesday, July 8th. Stifel Nicolaus increased their price objective on Kodiak Gas Services from $90.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Wells Fargo & Company assumed coverage on Kodiak Gas Services in a report on Wednesday, May 27th. They issued an "overweight" rating and a $93.00 price objective for the company. Finally, Piper Sandler started coverage on Kodiak Gas Services in a research report on Tuesday, July 28th. They issued an "overweight" rating and a $78.00 price objective on the stock. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.89.

Insider Transactions at Kodiak Gas Services

In related news, EVP Cory Roclawski sold 4,169 shares of the company's stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $68.36, for a total value of $284,992.84. Following the transaction, the executive vice president owned 24,662 shares in the company, valued at $1,685,894.32. The trade was a 14.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO William Lenamon sold 1,000 shares of the company's stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $63.21, for a total transaction of $63,210.00. Following the completion of the transaction, the chief operating officer owned 85,294 shares in the company, valued at approximately $5,391,433.74. The trade was a 1.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 25,530 shares of company stock worth $1,647,379 over the last quarter. Corporate insiders own 0.64% of the company's stock.

Kodiak Gas Services Stock Performance

Shares of KGS opened at $63.83 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.45 and a debt-to-equity ratio of 1.28. The stock has a market cap of $6.45 billion, a P/E ratio of 75.99, a P/E/G ratio of 0.91 and a beta of 0.96. The business's 50 day moving average price is $62.31 and its 200-day moving average price is $63.76. Kodiak Gas Services, Inc. has a 52 week low of $32.55 and a 52 week high of $77.68.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last posted 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 company had revenue of $391.12 million for the quarter, compared to the consensus estimate of $386.30 million. During the same period last year, the business earned $0.43 EPS. The firm's quarterly revenue was up 21.2% on a year-over-year basis. Equities research analysts anticipate that Kodiak Gas Services, Inc. will post 2.44 earnings per share for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Monday, August 17th were issued a dividend of $0.49 per share. The ex-dividend date was Monday, August 17th. This represents a $1.96 annualized dividend and a dividend yield of 3.1%. Kodiak Gas Services's dividend payout ratio (DPR) is presently 233.33%.

Kodiak Gas Services Company 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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