Deutsche Bank AG Invests $24.12 Million in Kodiak Gas Services, Inc. $KGS

Key Points

• Deutsche Bank acquired 321,015 shares of Kodiak Gas Services in the second quarter, valued at approximately $24.1 million and representing about 0.36% of the company. Institutional investors collectively own 24.95% of KGS.
• Analysts remain broadly positive, with 10 Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $78.89, above the stock’s reported $61.28 price.
• Kodiak reported 21.2% year-over-year revenue growth to $391.1 million, although quarterly EPS of $0.55 missed the $0.67 consensus estimate. The company declared a quarterly dividend of $0.49, implying a 3.2% annualized yield.

Deutsche Bank AG purchased a new position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 321,015 shares of the company's stock, valued at approximately $24,118,000. Deutsche Bank AG owned approximately 0.36% of Kodiak Gas Services as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KGS. Crown Advisors Management Inc. acquired a new position in Kodiak Gas Services during the second quarter worth $4,508,000. Bank of New York Mellon Corp bought a new position in Kodiak Gas Services during the 2nd quarter valued at about $73,623,000. State of Wyoming bought a new stake in Kodiak Gas Services during the second quarter worth about $537,000. GSA Capital Partners LLP bought a new stake in Kodiak Gas Services during the second quarter worth about $657,000. Finally, GAMMA Investing LLC raised its stake in shares of Kodiak Gas Services by 20.8% in the second quarter. GAMMA Investing LLC now owns 2,646 shares of the company's stock valued at $199,000 after acquiring an additional 456 shares during the last quarter. Institutional investors own 24.95% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on KGS shares. Piper Sandler began coverage on Kodiak Gas Services in a report on Tuesday, July 28th. They set an "overweight" rating and a $78.00 price target for the company. Wells Fargo & Company began coverage on Kodiak Gas Services in a report on Wednesday, May 27th. They issued an "overweight" rating and a $93.00 price target for the company. The Goldman Sachs Group raised their price objective on shares of Kodiak Gas Services from $69.00 to $88.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Barclays dropped their target price on shares of 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. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Kodiak Gas Services in a research note on Friday, May 29th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $78.89.

Kodiak Gas Services Trading Up 1.1%

Kodiak Gas Services stock opened at $61.28 on Friday. Kodiak Gas Services, Inc. has a one year low of $32.55 and a one year high of $77.68. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.45 and a quick ratio of 1.15. The firm has a 50-day moving average of $65.19 and a 200-day moving average of $62.44. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 72.95, a P/E/G ratio of 0.88 and a beta of 0.97.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.55 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $386.30 million. During the same period in the previous year, the firm posted $0.43 earnings per share. The firm's revenue was up 21.2% compared to the same quarter last year. On average, equities analysts expect that Kodiak Gas Services, Inc. will post 2.46 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Monday, August 17th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Monday, August 17th. Kodiak Gas Services's payout ratio is 233.33%.

Insiders Place Their Bets

In other Kodiak Gas Services news, EVP Cory Anne Roclawski sold 4,169 shares of the business's stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $68.36, for a total transaction of $284,992.84. Following the completion of the transaction, the executive vice president owned 24,662 shares of the company's stock, valued at approximately $1,685,894.32. The trade was a 14.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO William Chad Lenamon sold 1,000 shares of the stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $67.79, for a total transaction of $67,790.00. Following the completion of the transaction, the chief operating officer directly owned 87,294 shares of the company's stock, valued at $5,917,660.26. This trade represents a 1.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 19,531 shares of company stock valued at $1,296,158 over the last 90 days. 0.64% of the stock is owned by company insiders.

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. 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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