Empowered Funds LLC Makes New Investment in Kodiak Gas Services, Inc. $KGS

Key Points

• Empowered Funds LLC acquired 120,719 Kodiak Gas Services shares worth approximately $9.07 million, while several other institutions also initiated positions. Institutional investors now own 24.95% of the company.
• Kodiak’s shares opened at $57.64, down 4.2%, after the company reported quarterly EPS of $0.55—below the $0.67 consensus estimate—despite revenue rising 21.2% year over year to $391.12 million.
• The company declared a quarterly dividend of $0.49, equivalent to a 3.4% annualized yield, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus and an average price target of $78.89.

Empowered Funds LLC bought a new stake in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 120,719 shares of the company's stock, valued at approximately $9,070,000. Empowered Funds LLC owned approximately 0.12% of Kodiak Gas Services as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in KGS. Equitable Holdings Inc. bought a new stake in Kodiak Gas Services during the 2nd quarter worth about $256,000. Jefferies Financial Group Inc. acquired a new stake in shares of Kodiak Gas Services in the second quarter valued at approximately $376,000. Public Employees Retirement System of Ohio bought a new position in Kodiak Gas Services in the 2nd quarter worth approximately $29,000. Corient Private Wealth LP bought a new position in Kodiak Gas Services in the 2nd quarter worth approximately $1,182,000. Finally, Bank of America Corp DE acquired a new position in Kodiak Gas Services during the 2nd quarter worth $109,850,000. 24.95% of the stock is owned by institutional investors.

Kodiak Gas Services Stock Down 4.2%

Shares of Kodiak Gas Services stock opened at $57.64 on Friday. The business has a fifty day simple moving average of $64.28 and a 200 day simple moving average of $62.96. The stock has a market cap of $5.83 billion, a PE ratio of 68.62, a price-to-earnings-growth ratio of 0.84 and a beta of 0.97. The company has a quick ratio of 1.15, a current ratio of 1.45 and a debt-to-equity ratio of 1.28. Kodiak Gas Services, Inc. has a 12 month low of $32.55 and a 12 month high of $77.68.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last released its earnings results 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 net margin of 5.77% and a return on equity of 11.92%. The company had revenue of $391.12 million during the quarter, compared to analyst estimates of $386.30 million. During the same period in the previous year, the company posted $0.43 EPS. The company's quarterly revenue was up 21.2% compared to the same quarter last year. Research analysts predict that Kodiak Gas Services, Inc. will post 2.44 EPS for the current year.

Kodiak Gas Services Dividend Announcement

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

Insiders Place Their Bets

In other Kodiak Gas Services news, EVP Cory Anne Roclawski sold 4,169 shares of the company'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 value of $284,992.84. Following the completion of the sale, the executive vice president owned 24,662 shares of the company's stock, valued at approximately $1,685,894.32. This represents a 14.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pedro R. Buhigas sold 4,625 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $67.78, for a total transaction of $313,482.50. Following the completion of the sale, the insider owned 38,454 shares in the company, valued at approximately $2,606,412.12. This trade represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,531 shares of company stock worth $1,296,158 over the last ninety days. Company insiders own 0.64% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on KGS shares. Weiss Ratings restated a "hold (c+)" rating on shares of Kodiak Gas Services in a research report on Wednesday. The Goldman Sachs Group lifted their price objective on Kodiak Gas Services from $69.00 to $88.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Royal Bank Of Canada upped their target price on shares of Kodiak Gas Services from $84.00 to $88.00 and gave the company an "outperform" rating in a research report on Thursday, August 13th. Citigroup raised their target price on shares of Kodiak Gas Services from $63.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, May 13th. Finally, Wells Fargo & Company assumed coverage on shares of Kodiak Gas Services in a research report on Wednesday, May 27th. They set an "overweight" rating and a $93.00 price target for the company. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.89.

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. 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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