Advisors Preferred LLC Invests $1.99 Million in Kodiak Gas Services, Inc. $KGS

Key Points

• Advisors Preferred LLC acquired 29,238 Kodiak Gas Services shares worth approximately $1.99 million during the second quarter, while institutional investors now own 24.95% of the company.
• Kodiak reported quarterly revenue of $391.1 million, up 21.2% year over year, but earnings of $0.55 per share fell short of analysts’ $0.67 estimate. The company declared a quarterly dividend of $0.49 per share, representing a 3.2% annualized yield.
• The stock opened at $60.35, below its 50-day average, while analysts maintain a “Moderate Buy” consensus with an average price target of $78.89. Company insiders have sold 19,531 shares worth roughly $1.30 million over the past quarter.

Advisors Preferred LLC acquired a new position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 29,238 shares of the company's stock, valued at approximately $1,986,000.

Several other large investors also recently added to or reduced their stakes in the business. HighTower Advisors LLC increased its position in Kodiak Gas Services by 40.5% in the fourth quarter. HighTower Advisors LLC now owns 57,699 shares of the company's stock worth $2,158,000 after buying an additional 16,619 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Kodiak Gas Services by 29.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 901,406 shares of the company's stock valued at $33,713,000 after buying an additional 203,809 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Kodiak Gas Services by 4.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,105,555 shares of the company's stock valued at $181,108,000 after buying an additional 135,998 shares in the last quarter. Maven Securities LTD grew its stake in shares of Kodiak Gas Services by 694.0% during the 4th quarter. Maven Securities LTD now owns 100,000 shares of the company's stock valued at $3,740,000 after acquiring an additional 87,406 shares during the period. Finally, Crown Advisors Management Inc. bought a new position in shares of Kodiak Gas Services during the 2nd quarter valued at approximately $4,508,000. 24.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Robert Michael Mckee sold 6,008 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $62.39, for a total transaction of $374,839.12. Following the completion of the transaction, the chief executive officer directly owned 298,589 shares in the company, valued at approximately $18,628,967.71. This represents a 1.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO William Chad Lenamon sold 1,000 shares of the firm's stock in a transaction on Monday, July 13th. The shares were sold at an average price of $67.79, for a total transaction of $67,790.00. Following the completion of the transaction, the chief operating officer directly owned 87,294 shares of the company's stock, valued at approximately $5,917,660.26. This trade represents a 1.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 19,531 shares of company stock worth $1,296,158. Insiders own 0.64% of the company's stock.

Kodiak Gas Services Stock Up 0.5%

Shares of KGS stock opened at $60.35 on Friday. The company's fifty day simple moving average is $65.34 and its two-hundred day simple moving average is $62.45. Kodiak Gas Services, Inc. has a 52 week low of $32.55 and a 52 week high of $77.68. The stock has a market cap of $6.10 billion, a P/E ratio of 71.85, a PEG ratio of 0.87 and a beta of 0.97. The company has a quick ratio of 1.15, a current ratio of 1.45 and a debt-to-equity ratio of 1.28.

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 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 for the quarter, compared to analysts' expectations of $386.30 million. During the same quarter in the previous year, the business earned $0.43 EPS. The company's revenue for the quarter was up 21.2% on a year-over-year basis. Analysts predict that Kodiak Gas Services, Inc. will post 2.46 EPS for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Monday, August 17th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.2%. The ex-dividend date is Monday, August 17th. Kodiak Gas Services's dividend payout ratio (DPR) is currently 233.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on KGS shares. Citigroup raised 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 note on Wednesday, May 13th. Jefferies Financial Group dropped their price target on shares of Kodiak Gas Services from $79.00 to $69.00 and set a "buy" rating for the company in a research report on Monday, August 10th. Wells Fargo & Company assumed coverage on shares of Kodiak Gas Services in a research note on Wednesday, May 27th. They issued an "overweight" rating and a $93.00 price objective for the company. Weiss Ratings restated a "hold (c+)" rating on shares of Kodiak Gas Services in a research report on Friday, May 29th. Finally, Barclays dropped their target price on shares of Kodiak Gas Services from $76.00 to $72.00 and set an "overweight" rating for the company in a report on Wednesday, July 8th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $78.89.

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.

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