California State Teachers Retirement System Has $634.17 Million Holdings in Kodiak Gas Services, Inc. $KGS

Key Points

• California State Teachers Retirement System increased its Kodiak Gas Services stake by 8,307.7% in the second quarter, holding 8.44 million shares worth approximately $634.2 million, or 8.35% of the company.
• Institutional ownership expanded, with BlackRock establishing a roughly $1.14 billion position and several other major investors adding shares; institutions and hedge funds collectively own 24.95% of KGS.
• Kodiak reported quarterly revenue of $391.1 million, up 21.2% year over year, but missed EPS estimates. Analysts maintain a “Moderate Buy” consensus with an average price target of $78.89, while the company pays a $0.49 quarterly dividend.

California State Teachers Retirement System raised its holdings in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 8,307.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,441,006 shares of the company's stock after acquiring an additional 8,340,610 shares during the period. California State Teachers Retirement System owned about 8.35% of Kodiak Gas Services worth $634,173,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of KGS. BlackRock Inc. bought a new position in shares of Kodiak Gas Services in the second quarter worth about $1,142,139,000. Wellington Management Group LLP grew its holdings in shares of Kodiak Gas Services by 85.0% during the 2nd quarter. Wellington Management Group LLP now owns 2,432,174 shares of the company's stock valued at $182,729,000 after purchasing an additional 1,117,743 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Kodiak Gas Services by 4.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,105,555 shares of the company's stock worth $181,108,000 after purchasing an additional 135,998 shares in the last quarter. Bank of America Corp DE bought a new position in Kodiak Gas Services in the 2nd quarter valued at approximately $109,850,000. Finally, Kayne Anderson Capital Advisors LP bought a new position in Kodiak Gas Services in the 2nd quarter valued at approximately $84,821,000. Institutional investors and hedge funds own 24.95% of the company's stock.

Kodiak Gas Services Stock Performance

NYSE KGS opened at $56.50 on Tuesday. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 67.26, a PEG ratio of 0.93 and a beta of 0.96. Kodiak Gas Services, Inc. has a twelve month low of $32.55 and a twelve month high of $77.68. The stock has a fifty day simple moving average of $62.11 and a 200 day simple moving average of $63.89. The company has a quick ratio of 1.15, a current ratio of 1.45 and a debt-to-equity ratio of 1.28.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.12). The company had revenue of $391.12 million for the quarter, compared to analyst estimates of $386.30 million. Kodiak Gas Services had a return on equity of 11.92% and a net margin of 5.77%.The firm's quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 earnings per share. Sell-side analysts expect that Kodiak Gas Services, Inc. will post 2.44 EPS for the current year.

Kodiak Gas Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Monday, August 17th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Monday, August 17th. Kodiak Gas Services's dividend payout ratio (DPR) is 233.33%.

Insider Buying and Selling

In related news, CEO Robert McKee sold 6,008 shares of Kodiak Gas Services stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $62.39, for a total value of $374,839.12. Following the transaction, the chief executive officer directly owned 298,589 shares of the company's stock, valued at $18,628,967.71. The trade was a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pedro Buhigas sold 4,625 shares of the company's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $67.78, for a total value of $313,482.50. Following the completion of the sale, the insider owned 38,454 shares in the company, valued at $2,606,412.12. The trade was a 10.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 22,801 shares of company stock valued at $1,460,115 over the last three months. 0.64% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Piper Sandler started coverage on shares of Kodiak Gas Services in a research note on Tuesday, July 28th. They set an "overweight" rating and a $78.00 target price on the stock. Barclays dropped their price target on Kodiak Gas Services from $76.00 to $72.00 and set an "overweight" rating for the company in a research note on Wednesday, July 8th. Royal Bank Of Canada raised their price objective on Kodiak Gas Services from $84.00 to $88.00 and gave the company an "outperform" rating in a report on Thursday, August 13th. Stifel Nicolaus boosted their price objective on Kodiak Gas Services from $90.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Kodiak Gas Services in a report on Wednesday, August 26th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $78.89.

Kodiak Gas Services Company Profile

Kodiak Gas Services, Inc NYSE: KGS provides natural gas compression services to producers, processors, gatherers and other midstream companies in the United States. Its compression equipment increases and maintains the pressure of natural gas as it moves from production sites through gathering systems, processing facilities and pipelines.

The company primarily operates under long-term contracts and offers compression-as-a-service solutions. Its services include the design, installation, operation, maintenance, repair and overhaul of natural gas compression equipment.

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