California State Teachers Retirement System Acquires 11,956 Shares of Kodiak Gas Services, Inc. $KGS

Key Points

• California State Teachers Retirement System increased its Kodiak Gas Services stake by 11.9%, adding 11,956 shares to own 112,352 shares worth approximately $8.4 million. Institutional investors and hedge funds collectively own 24.95% of the company.
• Kodiak reported quarterly revenue of $391.1 million, up 21.2% year over year and above estimates, but earnings per share of $0.55 fell short of the $0.67 consensus forecast. The company paid a quarterly dividend of $0.49 per share, yielding about 3.4% annually.
• Analysts maintain a generally positive view, with 10 Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $78.89 versus the reported share price of $56.85.

California State Teachers Retirement System grew its holdings in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 11.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 112,352 shares of the company's stock after acquiring an additional 11,956 shares during the quarter. California State Teachers Retirement System owned 0.11% of Kodiak Gas Services worth $8,441,006 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in KGS. BlackRock Inc. acquired a new stake in Kodiak Gas Services in the second quarter valued at about $1,142,139,000. Bank of America Corp DE purchased a new stake in shares of Kodiak Gas Services in the second quarter valued at $109,850,000. Kayne Anderson Capital Advisors LP acquired a new position in Kodiak Gas Services in the 2nd quarter valued at $84,821,000. Wellington Management Group LLP lifted its position 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 worth $182,729,000 after buying an additional 1,117,743 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of Kodiak Gas Services during the 2nd quarter worth approximately $73,623,000. 24.95% of the stock is currently owned by institutional investors and hedge funds.

Kodiak Gas Services Stock Up 0.4%

Shares of NYSE:KGS traded up $0.23 during trading on Tuesday, hitting $56.85. 986,619 shares of the company's stock traded hands, compared to its average volume of 1,679,549. The company has a 50-day moving average price of $62.11 and a 200-day moving average price of $63.89. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 67.47, a price-to-earnings-growth ratio of 0.93 and a beta of 0.96. The company has a current ratio of 1.45, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28. Kodiak Gas Services, Inc. has a 52 week low of $32.55 and a 52 week high of $77.68.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $391.12 million during the quarter, compared to the consensus estimate of $386.30 million. During the same period in the prior year, the firm earned $0.43 EPS. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, research analysts forecast that Kodiak Gas Services, Inc. will post 2.44 EPS for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Monday, August 17th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.96 dividend on an annualized basis and a yield of 3.4%. Kodiak Gas Services's payout ratio is 233.33%.

Insider Transactions at Kodiak Gas Services

In other Kodiak Gas Services news, COO William Lenamon sold 1,000 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $63.21, for a total transaction of $63,210.00. Following the transaction, the chief operating officer directly owned 85,294 shares of the company's stock, valued at $5,391,433.74. This trade represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Cory Roclawski sold 4,169 shares of the firm's stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $68.36, for a total transaction of $284,992.84. Following the completion of the sale, the executive vice president directly owned 24,662 shares in the company, valued at approximately $1,685,894.32. This trade represents a 14.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 22,801 shares of company stock valued at $1,460,115 over the last three months. Company insiders own 0.64% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wells Fargo & Company initiated coverage on shares of Kodiak Gas Services in a research note on Wednesday, May 27th. They issued an "overweight" rating and a $93.00 price target for the company. Piper Sandler began coverage on Kodiak Gas Services in a research report on Tuesday, July 28th. They issued an "overweight" rating and a $78.00 price target for the company. Stifel Nicolaus raised their price target on shares of Kodiak Gas Services from $90.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Barclays cut their price objective on shares of Kodiak Gas Services from $76.00 to $72.00 and set an "overweight" rating for the company in a research report on Wednesday, July 8th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Kodiak Gas Services in a research note on Wednesday, August 26th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target 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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