American Century Companies Inc. Raises Holdings in Kodiak Gas Services, Inc. $KGS

Key Points

• American Century Companies Inc. increased its stake in Kodiak Gas Services, Inc. by 38.6%, acquiring an additional 362,621 shares during the first quarter, bringing its total ownership to 1,302,080 shares worth approximately $48.6 million.
• Equities research analysts are bullish on Kodiak Gas Services, with a consensus rating of "Moderate Buy" and an average target price of $41.10, reflecting several recent price increases by major firms.
• Kodiak Gas Services recently declared a quarterly dividend of $0.45 per share, resulting in an annualized yield of 5.0%, while also announcing a $50 million stock repurchase program.

American Century Companies Inc. increased its holdings in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 38.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,302,080 shares of the company's stock after purchasing an additional 362,621 shares during the quarter. American Century Companies Inc. owned approximately 1.47% of Kodiak Gas Services worth $48,568,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Comerica Bank raised its position in shares of Kodiak Gas Services by 710.1% in the fourth quarter. Comerica Bank now owns 721 shares of the company's stock valued at $29,000 after purchasing an additional 632 shares during the period. Sterling Capital Management LLC boosted its stake in shares of Kodiak Gas Services by 1,322.6% in the 4th quarter. Sterling Capital Management LLC now owns 754 shares of the company's stock valued at $31,000 after purchasing an additional 701 shares in the last quarter. State of Wyoming acquired a new stake in Kodiak Gas Services during the 4th quarter worth approximately $57,000. Amalgamated Bank boosted its position in Kodiak Gas Services by 40.0% during the 1st quarter. Amalgamated Bank now owns 1,554 shares of the company's stock worth $58,000 after buying an additional 444 shares during the period. Finally, Covestor Ltd raised its holdings in Kodiak Gas Services by 33,700.0% during the 1st quarter. Covestor Ltd now owns 1,690 shares of the company's stock worth $63,000 after purchasing an additional 1,685 shares during the last quarter. 24.95% of the stock is owned by institutional investors.

Kodiak Gas Services Price Performance

Shares of NYSE KGS traded down $0.1260 during midday trading on Friday, reaching $35.8040. 1,278,994 shares of the stock traded hands, compared to its average volume of 2,154,585. The stock has a market capitalization of $3.14 billion, a PE ratio of 39.78 and a beta of 1.33. The company's 50 day moving average is $33.27 and its 200 day moving average is $35.79. Kodiak Gas Services, Inc. has a one year low of $25.21 and a one year high of $50.43. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.10 and a quick ratio of 0.78.

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

Kodiak Gas Services announced that its board has approved a share buyback plan on Monday, August 11th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to reacquire up to 1.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Kodiak Gas Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on KGS shares. Royal Bank Of Canada boosted their target price on shares of Kodiak Gas Services from $42.00 to $43.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 13th. Barclays raised their target price on shares of 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. Mizuho lowered their target price 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, JPMorgan Chase & Co. reiterated a "buy" rating and issued a $43.00 price target (up previously from $42.00) on shares of Kodiak Gas Services in a report on Monday, June 23rd. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.10.

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.