Algert Global LLC Takes Position 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 Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 155,650 shares of the company's stock, valued at approximately $5,806,000. Algert Global LLC owned 0.18% of Kodiak Gas Services at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of KGS. Zimmer Partners LP lifted its stake in shares of Kodiak Gas Services by 88.1% in the fourth quarter. Zimmer Partners LP now owns 3,347,700 shares of the company's stock worth $136,687,000 after acquiring an additional 1,567,849 shares in the last quarter. Invesco Ltd. raised its position in shares of Kodiak Gas Services by 3.5% during the 1st quarter. Invesco Ltd. now owns 3,044,939 shares of the company's stock worth $113,576,000 after purchasing an additional 102,157 shares during the period. Vanguard Group Inc. raised its position in shares of Kodiak Gas Services by 9.0% during the 1st quarter. Vanguard Group Inc. now owns 2,897,588 shares of the company's stock worth $108,080,000 after purchasing an additional 238,573 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Kodiak Gas Services by 14.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,650,183 shares of the company's stock worth $67,379,000 after purchasing an additional 202,050 shares during the period. Finally, Encompass Capital Advisors LLC bought a new position in Kodiak Gas Services in the 4th quarter worth approximately $66,122,000. Hedge funds and other institutional investors own 24.95% of the company's stock.

Kodiak Gas Services Stock Down 0.4%

Shares of KGS traded down $0.1260 during mid-day trading on Friday, reaching $35.8040. The company's stock had a trading volume of 1,278,994 shares, compared to its average volume of 1,227,649. The business has a fifty day moving average of $33.24 and a 200 day moving average of $35.87. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 39.78 and a beta of 1.33. Kodiak Gas Services, Inc. has a 1 year low of $25.21 and a 1 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 released its earnings results on Wednesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 earnings per share. As a group, analysts forecast that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current fiscal year.

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

Kodiak Gas Services Dividend Announcement

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

Analyst Ratings Changes

KGS has been the subject of a number of recent analyst reports. Royal Bank Of Canada increased their price objective on Kodiak Gas Services from $42.00 to $43.00 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. 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. Mizuho decreased their price target on Kodiak Gas Services from $46.00 to $45.00 and set an "outperform" rating for the company in a research note on Tuesday, May 20th. Finally, Barclays increased their price target on Kodiak Gas Services from $36.00 to $37.00 and gave the company an "equal weight" rating in a research note on Thursday, August 14th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $41.10.

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.