Bank of America Corp DE Sells 18,603 Shares of Kodiak Gas Services, Inc. (NYSE:KGS)

Bank of America Corp DE lessened its holdings in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 378,887 shares of the company's stock after selling 18,603 shares during the period. Bank of America Corp DE owned 0.43% of Kodiak Gas Services worth $15,470,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of KGS. FMR LLC boosted its position in shares of Kodiak Gas Services by 50.2% during the fourth quarter. FMR LLC now owns 7,342,296 shares of the company's stock valued at $299,786,000 after buying an additional 2,452,492 shares during the last quarter. Invesco Ltd. lifted its stake in Kodiak Gas Services by 1.1% during the 4th quarter. Invesco Ltd. now owns 2,942,782 shares of the company's stock valued at $120,154,000 after acquiring an additional 32,966 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Kodiak Gas Services by 52.3% during the 4th quarter. Vanguard Group Inc. now owns 2,659,015 shares of the company's stock valued at $108,568,000 after acquiring an additional 913,104 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Kodiak Gas Services by 14.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,650,183 shares of the company's stock worth $67,379,000 after acquiring an additional 202,050 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Kodiak Gas Services by 26.4% in the fourth quarter. American Century Companies Inc. now owns 939,459 shares of the company's stock worth $38,358,000 after acquiring an additional 196,273 shares during the period. Institutional investors own 24.95% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Truist Financial raised their target price on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Raymond James restated an "outperform" rating on shares of Kodiak Gas Services in a research report on Friday, March 7th. Royal Bank of Canada set a $45.00 target price on shares of Kodiak Gas Services and gave the stock an "outperform" rating in a report on Tuesday, March 11th. Mizuho decreased their price target on Kodiak Gas Services from $46.00 to $45.00 and set an "outperform" rating on the stock in a report on Tuesday, May 20th. Finally, Barclays dropped their price objective on Kodiak Gas Services from $41.00 to $36.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $40.55.

Kodiak Gas Services Price Performance

Shares of Kodiak Gas Services stock traded up $0.38 during trading on Tuesday, reaching $35.00. 811,056 shares of the stock traded hands, compared to its average volume of 843,764. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.27 and a quick ratio of 0.93. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 120.69 and a beta of 1.59. Kodiak Gas Services, Inc. has a 52-week low of $24.84 and a 52-week high of $50.43. The business has a fifty day simple moving average of $34.84 and a two-hundred day simple moving average of $39.46.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.03. The business had revenue of $329.64 million for the quarter, compared to the consensus estimate of $328.45 million. Kodiak Gas Services had a return on equity of 7.91% and a net margin of 2.23%. The company's revenue was up 52.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS. Sell-side analysts expect that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, May 5th. This is an increase from Kodiak Gas Services's previous quarterly dividend of $0.41. This represents a $1.80 dividend on an annualized basis and a yield of 5.14%. Kodiak Gas Services's dividend payout ratio is 339.62%.

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.