Credit Agricole S A Purchases 28,057 Shares of Kodiak Gas Services, Inc. $KGS

Key Points

• Credit Agricole S A increased its holdings in Kodiak Gas Services by 85.6%, purchasing an additional 28,057 shares, bringing its total to 60,834 shares valued at approximately $2.27 million.
• Kodiak Gas Services announced a dividend of $0.45 per share and initiated a $50 million stock buyback program, demonstrating confidence in its stock valuation.
• The company reported an earnings per share (EPS) of $0.49 for the last quarter, exceeding expectations, even though revenue fell short of projections at $322.84 million.

Credit Agricole S A boosted its position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 85.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,834 shares of the company's stock after acquiring an additional 28,057 shares during the quarter. Credit Agricole S A owned 0.07% of Kodiak Gas Services worth $2,269,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Zimmer Partners LP increased its stake in Kodiak Gas Services by 88.1% in the fourth quarter. Zimmer Partners LP now owns 3,347,700 shares of the company's stock valued at $136,687,000 after acquiring an additional 1,567,849 shares during the last quarter. Invesco Ltd. increased its stake in Kodiak Gas Services by 3.5% in the first quarter. Invesco Ltd. now owns 3,044,939 shares of the company's stock valued at $113,576,000 after acquiring an additional 102,157 shares during the last quarter. Vanguard Group Inc. increased its stake in Kodiak Gas Services by 9.0% in the first quarter. Vanguard Group Inc. now owns 2,897,588 shares of the company's stock valued at $108,080,000 after acquiring an additional 238,573 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in 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 valued at $67,379,000 after acquiring an additional 202,050 shares during the last quarter. Finally, Encompass Capital Advisors LLC bought a new position in Kodiak Gas Services in the fourth quarter valued at $66,122,000. Institutional investors own 24.95% of the company's stock.

Kodiak Gas Services Stock Down 0.4%

NYSE KGS opened at $35.8040 on Friday. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.10 and a quick ratio of 0.78. The stock has a market capitalization of $3.14 billion, a PE ratio of 39.78 and a beta of 1.33. Kodiak Gas Services, Inc. has a 1 year low of $25.21 and a 1 year high of $50.43. The business's 50-day moving average is $33.27 and its 200 day moving average is $35.71.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. The company had revenue of $322.84 million for the quarter, compared to analysts' expectations of $335.10 million. Kodiak Gas Services had a return on equity of 10.35% and a net margin of 6.48%.Kodiak Gas Services's quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $0.06 earnings per share. Sell-side analysts forecast that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current year.

Kodiak Gas Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 4th were paid a $0.45 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.80 annualized dividend and a dividend yield of 5.0%. Kodiak Gas Services's dividend payout ratio (DPR) is presently 200.00%.

Kodiak Gas Services announced that its board has initiated a stock buyback program on Monday, August 11th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on KGS shares. Mizuho reduced their price objective on Kodiak Gas Services from $46.00 to $45.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 20th. Barclays raised their price objective on Kodiak Gas Services from $36.00 to $37.00 and gave the company an "equal weight" rating in a research note on Thursday, August 14th. JPMorgan Chase & Co. reaffirmed a "buy" rating and set a $43.00 price objective (up from $42.00) on shares of Kodiak Gas Services in a research note on Monday, June 23rd. Finally, Royal Bank Of Canada raised their price objective on Kodiak Gas Services from $42.00 to $43.00 and gave the company an "outperform" rating in a research note on Wednesday, August 13th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $41.10.

Kodiak Gas Services Company 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.

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