Alden Global Capital LLC Cuts Stake in Kodiak Gas Services, Inc. $KGS

Key Points

• Alden Global Capital reduced its stake in Kodiak Gas Services by 17.1% in the fourth quarter, selling 30,600 shares and leaving it with 148,850 shares valued at about $5.57 million.
• Wall Street sentiment on KGS remains constructive, with nine Buy ratings and two Hold ratings; the stock’s average analyst target price is $75.22, while some firms have recently lifted targets into the $79–$93 range.
• Kodiak Gas Services beat earnings expectations in its latest quarter, reporting $0.59 EPS versus $0.54 expected and revenue of $345.76 million, while also paying a quarterly dividend of $0.49 per share.

Alden Global Capital LLC trimmed its position in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 17.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 148,850 shares of the company's stock after selling 30,600 shares during the quarter. Kodiak Gas Services comprises about 2.6% of Alden Global Capital LLC's holdings, making the stock its 12th biggest holding. Alden Global Capital LLC owned 0.17% of Kodiak Gas Services worth $5,567,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of KGS. Nisa Investment Advisors LLC grew its position in Kodiak Gas Services by 52.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,062 shares of the company's stock valued at $40,000 after purchasing an additional 364 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Kodiak Gas Services by 1,501.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company's stock valued at $42,000 after purchasing an additional 1,156 shares during the last quarter. State of Wyoming grew its position in Kodiak Gas Services by 201.7% during the 4th quarter. State of Wyoming now owns 1,219 shares of the company's stock valued at $46,000 after purchasing an additional 815 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Kodiak Gas Services by 80.3% during the 4th quarter. GAMMA Investing LLC now owns 1,248 shares of the company's stock valued at $47,000 after acquiring an additional 556 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Kodiak Gas Services by 80.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,449 shares of the company's stock valued at $54,000 after acquiring an additional 646 shares during the last quarter. 24.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KGS. Stifel Nicolaus set a $84.00 price target on shares of Kodiak Gas Services in a report on Tuesday, May 12th. Wells Fargo & Company began coverage on shares of Kodiak Gas Services in a report on Wednesday, May 27th. They set an "overweight" rating and a $93.00 price target on the stock. Jefferies Financial Group began coverage on shares of Kodiak Gas Services in a report on Thursday, June 4th. They set a "buy" rating and a $79.00 price target on the stock. Wall Street Zen raised shares of Kodiak Gas Services from a "sell" rating to a "hold" rating in a report on Saturday, February 21st. Finally, The Goldman Sachs Group raised their price target on shares of Kodiak Gas Services from $69.00 to $88.00 and gave the company a "buy" rating in a report on Friday, May 15th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Kodiak Gas Services presently has an average rating of "Moderate Buy" and an average target price of $75.22.

Kodiak Gas Services Price Performance

NYSE KGS opened at $66.51 on Thursday. Kodiak Gas Services, Inc. has a 12 month low of $30.06 and a 12 month high of $77.68. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of 89.87, a PEG ratio of 0.95 and a beta of 0.94. The company's 50 day moving average is $67.92 and its two-hundred day moving average is $53.45. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 2.38.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last released its earnings results on Monday, May 11th. The company reported $0.59 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $345.76 million for the quarter, compared to analysts' expectations of $340.23 million. During the same quarter last year, the business earned $0.33 EPS. The firm's revenue was up 4.9% compared to the same quarter last year. As a group, research analysts anticipate that Kodiak Gas Services, Inc. will post 2.35 earnings per share for the current year.

Kodiak Gas Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Monday, May 18th were paid a dividend of $0.49 per share. The ex-dividend date was Monday, May 18th. This represents a $1.96 dividend on an annualized basis and a yield of 2.9%. Kodiak Gas Services's dividend payout ratio (DPR) is presently 264.86%.

Insiders Place Their Bets

In other Kodiak Gas Services news, insider Pedro R. Buhigas sold 4,625 shares of the firm's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $67.78, for a total transaction of $313,482.50. Following the sale, the insider owned 38,454 shares in the company, valued at approximately $2,606,412.12. This trade represents a 10.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO William Chad Lenamon sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $67.79, for a total transaction of $67,790.00. Following the sale, the chief operating officer owned 90,918 shares in the company, valued at approximately $6,163,331.22. The trade was a 1.09% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 8,354 shares of company stock worth $568,536. Company insiders own 0.64% of the company's stock.

Kodiak Gas Services Profile

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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