Capricorn Fund Managers Ltd Lowers Position in Kodiak Gas Services, Inc. $KGS

Key Points

• Capricorn Fund Managers Ltd cut its stake in Kodiak Gas Services by 60% in the first quarter, selling 59,971 shares and leaving it with 40,029 shares valued at about $2.33 million.
• Wall Street sentiment remains positive, with several analysts lifting price targets, including Goldman Sachs to $88 and Citigroup to $86. The stock currently carries a consensus rating of “Moderate Buy” and an average target of $79.25.
• Kodiak Gas Services reported solid results and a dividend, posting earnings and revenue above estimates, while paying a quarterly dividend of $0.49 per share. Recent insider sales were also disclosed, including transactions by CAO Ewan William Hamilton and insider Pedro R. Buhigas.

Capricorn Fund Managers Ltd decreased its position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 60.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,029 shares of the company's stock after selling 59,971 shares during the quarter. Capricorn Fund Managers Ltd's holdings in Kodiak Gas Services were worth $2,334,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in KGS. Charles Schwab Investment Management Inc. grew its holdings in Kodiak Gas Services by 29.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 901,406 shares of the company's stock valued at $33,713,000 after purchasing an additional 203,809 shares during the period. Westend Capital Management LLC bought a new stake in shares of Kodiak Gas Services in the fourth quarter valued at $13,585,000. Maven Securities LTD raised its stake in shares of Kodiak Gas Services by 694.0% in the fourth quarter. Maven Securities LTD now owns 100,000 shares of the company's stock valued at $3,740,000 after buying an additional 87,406 shares during the period. HighTower Advisors LLC lifted its position in shares of Kodiak Gas Services by 40.5% during the 4th quarter. HighTower Advisors LLC now owns 57,699 shares of the company's stock valued at $2,158,000 after buying an additional 16,619 shares during the last quarter. Finally, Argentarii LLC lifted its position in shares of Kodiak Gas Services by 293.7% during the 4th quarter. Argentarii LLC now owns 23,620 shares of the company's stock valued at $883,000 after buying an additional 17,620 shares during the last quarter. Hedge funds and other institutional investors own 24.95% of the company's stock.

Analysts Set New Price Targets

KGS has been the subject of a number of research reports. The Goldman Sachs Group increased their target price on shares of Kodiak Gas Services from $69.00 to $88.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Citigroup boosted their price target on shares of Kodiak Gas Services from $63.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, May 13th. Royal Bank Of Canada upped their price target on shares of Kodiak Gas Services from $64.00 to $84.00 and gave the company an "outperform" rating in a research note on Monday, May 18th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Kodiak Gas Services in a report on Friday, May 29th. Finally, Zacks Research upgraded shares of Kodiak Gas Services from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 6th. Eight research 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, Kodiak Gas Services currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.25.

Insider Transactions at Kodiak Gas Services

In other Kodiak Gas Services news, CAO Ewan William Hamilton sold 2,729 shares of Kodiak Gas Services stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $68.62, for a total transaction of $187,263.98. Following the completion of the sale, the chief accounting officer owned 31,617 shares of the company's stock, valued at $2,169,558.54. The trade was a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Pedro R. Buhigas sold 4,625 shares of the company's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $67.78, for a total value of $313,482.50. Following the completion of the transaction, the insider owned 38,454 shares of the company's stock, valued at $2,606,412.12. The trade was a 10.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 8,354 shares of company stock valued at $568,536. 0.64% of the stock is owned by corporate insiders.

Kodiak Gas Services Stock Performance

Kodiak Gas Services stock opened at $74.99 on Wednesday. Kodiak Gas Services, Inc. has a 1-year low of $30.06 and a 1-year high of $77.68. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 2.38. The firm has a market capitalization of $6.66 billion, a PE ratio of 101.34, a price-to-earnings-growth ratio of 1.04 and a beta of 0.94. The firm's 50 day simple moving average is $69.87 and its 200 day simple moving average is $55.74.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.05. The company had revenue of $345.76 million during the quarter, compared to analyst estimates of $340.23 million. Kodiak Gas Services had a return on equity of 13.12% and a net margin of 5.13%.The firm's quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $0.33 earnings per share. As a group, analysts expect that Kodiak Gas Services, Inc. will post 2.36 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.96 annualized dividend and a dividend yield of 2.6%. Kodiak Gas Services's payout ratio is presently 264.86%.

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. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings.

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