428,000 Kodiak Gas Services, Inc. $KGS Shares Bought by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

Key Points

• Cushing Asset Management increased its Kodiak Gas Services stake by 142.7%, buying 428,000 shares to reach 728,000 shares valued at approximately $38.6 million. Institutional investors and hedge funds collectively own 24.95% of KGS.
• Analysts remain broadly positive, with 12 Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $79.70, despite several firms recently lowering their targets.
• Kodiak reported 21.2% year-over-year revenue growth to $391.1 million, though quarterly EPS of $0.55 missed estimates. The company pays a $0.49 quarterly dividend, equivalent to a 4.3% yield, but its payout ratio is elevated at 233.33%.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 142.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 728,000 shares of the company's stock after purchasing an additional 428,000 shares during the period. Kodiak Gas Services accounts for approximately 1.8% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings, making the stock its 17th largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 0.72% of Kodiak Gas Services worth $38,562,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its position in shares of Kodiak Gas Services by 29.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,545 shares of the company's stock valued at $90,000 after purchasing an additional 352 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Kodiak Gas Services in the second quarter valued at about $29,000. GAMMA Investing LLC boosted its position in shares of Kodiak Gas Services by 20.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,646 shares of the company's stock worth $199,000 after acquiring an additional 456 shares in the last quarter. Swiss National Bank increased its stake in shares of Kodiak Gas Services by 0.4% in the 1st quarter. Swiss National Bank now owns 169,500 shares of the company's stock valued at $9,885,000 after purchasing an additional 600 shares during the last quarter. Finally, Yousif Capital Management LLC grew its holdings in shares of Kodiak Gas Services by 2.8% during the 3rd quarter. Yousif Capital Management LLC now owns 26,703 shares of the company's stock valued at $1,414,000 after purchasing an additional 739 shares during the last quarter. 24.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Kodiak Gas Services

In related news, CEO Robert McKee sold 2,666 shares of the firm's stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $53.95, for a total value of $143,830.70. Following the completion of the transaction, the chief executive officer directly owned 289,924 shares of the company's stock, valued at approximately $15,641,399.80. This trade represents a 0.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pedro Buhigas sold 3,663 shares of Kodiak Gas Services stock in a transaction 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 transaction, the insider owned 32,413 shares of the company's stock, valued at approximately $1,884,491.82. This trade represents a 10.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 20,336 shares of company stock worth $1,203,897. 0.64% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KGS. Jefferies Financial Group lowered their target price on Kodiak Gas Services from $69.00 to $65.00 and set a "buy" rating for the company in a report on Thursday, October 8th. JPMorgan Chase & Co. dropped their price objective on Kodiak Gas Services from $79.00 to $78.00 and set an "overweight" rating on the stock in a research note on Thursday, October 8th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Kodiak Gas Services in a research note on Wednesday, August 26th. Citigroup cut their target price on Kodiak Gas Services from $86.00 to $82.00 and set a "buy" rating on the stock in a report on Friday, October 9th. Finally, UBS Group reissued a "buy" rating on shares of Kodiak Gas Services in a research report on Friday, October 16th. Twelve analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $79.70.

Kodiak Gas Services Trading Up 2.5%

Shares of KGS stock opened at $45.44 on Tuesday. 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 firm has a market cap of $4.61 billion, a P/E ratio of 54.09 and a beta of 1.01. The company has a 50 day moving average of $55.78 and a 200-day moving average of $58.72. Kodiak Gas Services, Inc. has a 12-month low of $32.55 and a 12-month 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 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 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 company posted $0.43 EPS. Kodiak Gas Services's revenue for the quarter was up 21.2% on a year-over-year basis. Sell-side analysts anticipate that Kodiak Gas Services, Inc. will post 2.46 earnings per share for the current year.

Kodiak Gas Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Monday, August 17th were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Monday, August 17th. Kodiak Gas Services's payout ratio is currently 233.33%.

Kodiak Gas Services Profile

Kodiak Gas Services, Inc NYSE: KGS provides contract compression and related infrastructure services to the North American oil and gas industry. The company helps producers and midstream operators move natural gas through gathering systems, processing facilities and pipelines by supplying compression equipment and operating it under long-term service arrangements.

Its services include the design, installation, operation and maintenance of natural gas compression systems. Kodiak owns and manages a fleet of compression units that can be deployed across a range of applications, including natural gas gathering and processing.

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