Algert Global LLC Invests $5.81 Million in Kodiak Gas Services, Inc. $KGS

Key Points

• Algert Global LLC has acquired a new position in Kodiak Gas Services, purchasing 155,650 shares valued at approximately $5.8 million, representing about 0.18% ownership of the company.
• Kodiak Gas Services announced a quarterly dividend of $0.45 per share, with an annualized yield of 5.0%, despite a high dividend payout ratio of 200%.
• Wall Street analysts have a generally positive outlook on Kodiak Gas Services, with an average price target of $41.10 and the stock receiving nine buy ratings and one hold rating from analysts.

Algert Global LLC bought a new position in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 155,650 shares of the company's stock, valued at approximately $5,806,000. Algert Global LLC owned about 0.18% of Kodiak Gas Services as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Comerica Bank increased its position in shares of Kodiak Gas Services by 710.1% during the fourth quarter. Comerica Bank now owns 721 shares of the company's stock worth $29,000 after acquiring an additional 632 shares during the last quarter. Sterling Capital Management LLC increased its holdings in Kodiak Gas Services by 1,322.6% in the fourth quarter. Sterling Capital Management LLC now owns 754 shares of the company's stock valued at $31,000 after buying an additional 701 shares during the last quarter. State of Wyoming bought a new stake in Kodiak Gas Services in the fourth quarter valued at about $57,000. Amalgamated Bank increased its holdings in Kodiak Gas Services by 40.0% in the first quarter. Amalgamated Bank now owns 1,554 shares of the company's stock valued at $58,000 after buying an additional 444 shares during the last quarter. Finally, Covestor Ltd increased its holdings in Kodiak Gas Services by 33,700.0% in the first quarter. Covestor Ltd now owns 1,690 shares of the company's stock valued at $63,000 after buying an additional 1,685 shares during the last quarter. 24.95% of the stock is owned by hedge funds and other institutional investors.

Kodiak Gas Services Stock Performance

Shares of NYSE:KGS traded down $0.1260 during trading on Friday, hitting $35.8040. 1,278,994 shares of the company traded hands, compared to its average volume of 2,177,005. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 39.78 and a beta of 1.33. The business's fifty day moving average is $33.27 and its 200-day moving average is $35.64. Kodiak Gas Services, Inc. has a one year low of $25.21 and a one year high of $50.43. The company has a quick ratio of 0.78, a current ratio of 1.10 and a debt-to-equity ratio of 1.89.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. The company had revenue of $322.84 million during the quarter, compared to analyst estimates of $335.10 million. Kodiak Gas Services had a return on equity of 10.35% and a net margin of 6.48%.The business's revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 earnings per share. As a group, equities analysts predict that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 4th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.80 annualized dividend and a dividend yield of 5.0%. Kodiak Gas Services's dividend payout ratio is 200.00%.

Kodiak Gas Services declared that its Board of Directors has initiated a stock buyback program on Monday, August 11th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to repurchase up to 1.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts recently weighed in on KGS shares. Mizuho lowered their price objective on Kodiak Gas Services from $46.00 to $45.00 and set an "outperform" rating for the company in a report on Tuesday, May 20th. JPMorgan Chase & Co. reissued a "buy" rating and issued a $43.00 price objective (up from $42.00) on shares of Kodiak Gas Services in a report on Monday, June 23rd. Royal Bank Of Canada boosted their price objective on Kodiak Gas Services from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Wednesday, August 13th. Finally, Barclays boosted their price objective on Kodiak Gas Services from $36.00 to $37.00 and gave the company an "equal weight" rating in a report on Thursday, August 14th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Kodiak Gas Services has a consensus rating of "Moderate Buy" and a consensus price target of $41.10.

Kodiak Gas Services Company 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.