Emerald Investment Advisers LLC purchased a new stake in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 75,987 shares of the company's stock, valued at approximately $5,709,000. Emerald Investment Advisers LLC owned about 0.09% of Kodiak Gas Services as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in Kodiak Gas Services by 1,501.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company's stock valued at $42,000 after purchasing an additional 1,156 shares during the period. State of Wyoming grew its position in shares of Kodiak Gas Services by 201.7% during the 4th quarter. State of Wyoming now owns 1,219 shares of the company's stock worth $46,000 after buying an additional 815 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Kodiak Gas Services by 80.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,449 shares of the company's stock worth $54,000 after buying an additional 646 shares during the period. Harbor Investment Advisory LLC bought a new stake in shares of Kodiak Gas Services during the second quarter worth approximately $76,000. Finally, Allworth Financial LP bought a new stake in shares of Kodiak Gas Services during the second quarter worth approximately $80,000. 24.95% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Kodiak Gas Services news, COO William Chad Lenamon sold 1,000 shares of Kodiak Gas Services 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 transaction, the chief operating officer directly owned 87,294 shares in the company, valued at approximately $5,917,660.26. The trade was a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert Michael Mckee sold 6,008 shares of the business's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $62.39, for a total value of $374,839.12. Following the completion of the transaction, the chief executive officer directly owned 298,589 shares of the company's stock, valued at approximately $18,628,967.71. The trade was a 1.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 19,531 shares of company stock worth $1,296,158 over the last ninety days. Insiders own 0.64% of the company's stock.
Kodiak Gas Services Stock Up 1.1%
Kodiak Gas Services stock opened at $61.28 on Friday. The company's 50 day simple moving average is $65.19 and its 200 day simple moving average is $62.44. Kodiak Gas Services, Inc. has a fifty-two week low of $32.55 and a fifty-two week high of $77.68. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of 72.95, a PEG ratio of 0.88 and a beta of 0.97. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.45 and a quick ratio of 1.15.
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 (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.12). Kodiak Gas Services had a net margin of 5.77% and a return on equity of 11.92%. The firm had revenue of $391.12 million for the quarter, compared to analyst estimates of $386.30 million. During the same quarter in the prior year, the firm posted $0.43 EPS. The firm's revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kodiak Gas Services, Inc. will post 2.46 EPS for the current year.
Kodiak Gas Services Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Monday, August 17th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.96 annualized dividend and a dividend yield of 3.2%. Kodiak Gas Services's payout ratio is 233.33%.
Analyst Ratings Changes
KGS has been the topic of a number of recent research reports. 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 note on Friday, May 15th. Zacks Research upgraded shares of Kodiak Gas Services from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 6th. Barclays cut their price target on Kodiak Gas Services from $76.00 to $72.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 8th. 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 on the stock. Finally, Wells Fargo & Company initiated coverage on Kodiak Gas Services in a research note on Wednesday, May 27th. They set an "overweight" rating and a $93.00 price objective for the company. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $78.89.
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About Kodiak Gas Services
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding KGS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kodiak Gas Services, Inc. (NYSE:KGS - Free Report).
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