Assenagon Asset Management S.A. Purchases 169,606 Shares of Kodiak Gas Services, Inc. $KGS

Key Points

• Assenagon Asset Management acquired 169,606 Kodiak Gas Services shares worth approximately $8.98 million, giving it a 0.17% stake. Institutional investors collectively own 24.95% of the company.
• Analysts remain broadly bullish, with 12 Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $79.70.
• Kodiak reported revenue growth of 21.2% year over year to $391.1 million, though quarterly EPS of $0.55 missed estimates. The company pays a $0.49 quarterly dividend, equivalent to a 4.2% yield, while insiders have sold shares recently.

Assenagon Asset Management S.A. purchased a new stake in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 169,606 shares of the company's stock, valued at approximately $8,984,000. Assenagon Asset Management S.A. owned about 0.17% of Kodiak Gas Services as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its stake in shares of Kodiak Gas Services by 29.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,545 shares of the company's stock valued at $90,000 after purchasing an additional 352 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Kodiak Gas Services during the second quarter worth $29,000. GAMMA Investing LLC grew its stake in shares of Kodiak Gas Services by 20.8% during the second quarter. GAMMA Investing LLC now owns 2,646 shares of the company's stock worth $199,000 after buying an additional 456 shares during the last quarter. Swiss National Bank grew its stake in shares of Kodiak Gas Services by 0.4% during the first quarter. Swiss National Bank now owns 169,500 shares of the company's stock worth $9,885,000 after buying an additional 600 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Kodiak Gas Services by 2.1% during the first quarter. The Manufacturers Life Insurance Company now owns 38,183 shares of the company's stock worth $2,227,000 after buying an additional 773 shares in the last quarter. Institutional investors and hedge funds own 24.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Barclays dropped their price target on Kodiak Gas Services from $72.00 to $67.00 and set an "overweight" rating for the company in a research note on Monday, October 5th. Stifel Nicolaus raised their price objective on Kodiak Gas Services from $90.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. UBS Group restated a "buy" rating on shares of Kodiak Gas Services in a research report on Friday. Mizuho set a $72.00 target price on Kodiak Gas Services in a report on Monday, October 12th. Finally, JPMorgan Chase & Co. lowered their target price on Kodiak Gas Services from $79.00 to $78.00 and set an "overweight" rating for the company in a report on Thursday, October 8th. Twelve 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.70.

Kodiak Gas Services Price Performance

Shares of KGS opened at $47.18 on Tuesday. Kodiak Gas Services, Inc. has a 1 year low of $32.55 and a 1 year high of $77.68. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.45 and a quick ratio of 1.15. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 24.85 and a beta of 1.01. The business has a 50-day moving average of $57.45 and a 200-day moving average of $63.35.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.55 EPS for the quarter, missing analysts' consensus estimates of $0.67 by ($0.12). Kodiak Gas Services had a return on equity of 11.92% and a net margin of 5.77%. The company had revenue of $391.12 million during the quarter, compared to analyst estimates of $386.30 million. During the same period in the prior year, the firm earned $0.43 earnings per share. Kodiak Gas Services's revenue was up 21.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Kodiak Gas Services, Inc. will post 2.46 earnings per share for the current year.

Kodiak Gas Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Monday, August 17th were issued a dividend of $0.49 per share. The ex-dividend date was Monday, August 17th. This represents a $1.96 annualized dividend and a yield of 4.2%. Kodiak Gas Services's dividend payout ratio (DPR) is presently 233.33%.

Insiders Place Their Bets

In other news, insider Pedro Buhigas sold 3,663 shares of the business's stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $58.14, for a total value of $212,966.82. Following the transaction, the insider owned 32,413 shares in the company, valued at approximately $1,884,491.82. The trade was a 10.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert McKee sold 6,008 shares of the business's 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 owned 298,589 shares in the company, valued at $18,628,967.71. This trade represents a 1.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 20,336 shares of company stock worth $1,203,897. 0.64% of the stock is currently owned by insiders.

Kodiak Gas Services Profile

Kodiak Gas Services, Inc NYSE: KGS provides contract compression and related infrastructure services to the North American oil and gas industry. The company helps producers and midstream operators move natural gas through gathering systems, processing facilities and pipelines by supplying compression equipment and operating it under long-term service arrangements.

Its services include the design, installation, operation and maintenance of natural gas compression systems. Kodiak owns and manages a fleet of compression units that can be deployed across a range of applications, including natural gas gathering and processing.

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