EntryPoint Capital LLC Takes $379,000 Position in Kodiak Gas Services, Inc. $KGS

Key Points

• EntryPoint Capital LLC made a new investment of $379,000 in Kodiak Gas Services, purchasing 10,154 shares during the first quarter.
• Kodiak Gas Services has recently announced a $50 million share buyback plan and declared a quarterly dividend of $0.45, indicating a dividend yield of 4.9%.
• The company's stock has seen an increase in analyst target prices, with Barclays and Royal Bank of Canada adjusting their ratings to reflect a more positive outlook.

EntryPoint Capital LLC bought a new position in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,154 shares of the company's stock, valued at approximately $379,000.

Several other hedge funds and other institutional investors have also modified their holdings of KGS. Amalgamated Bank raised its stake in Kodiak Gas Services by 40.0% in the 1st quarter. Amalgamated Bank now owns 1,554 shares of the company's stock worth $58,000 after purchasing an additional 444 shares in the last quarter. Rhumbline Advisers raised its stake in Kodiak Gas Services by 37.3% in the 1st quarter. Rhumbline Advisers now owns 60,450 shares of the company's stock worth $2,255,000 after purchasing an additional 16,408 shares in the last quarter. GAMMA Investing LLC raised its stake in Kodiak Gas Services by 3,401.8% in the 1st quarter. GAMMA Investing LLC now owns 24,618 shares of the company's stock worth $918,000 after purchasing an additional 23,915 shares in the last quarter. KBC Group NV acquired a new stake in Kodiak Gas Services in the 1st quarter worth about $116,000. Finally, Bank of New York Mellon Corp raised its stake in Kodiak Gas Services by 13.4% in the 1st quarter. Bank of New York Mellon Corp now owns 443,666 shares of the company's stock worth $16,549,000 after purchasing an additional 52,522 shares in the last quarter. Institutional investors own 24.95% of the company's stock.

Kodiak Gas Services Price Performance

KGS stock traded up $0.35 during trading on Tuesday, reaching $34.69. 447,495 shares of the company were exchanged, compared to its average volume of 1,221,515. The company has a 50-day moving average of $33.28 and a two-hundred day moving average of $35.56. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 38.57 and a beta of 1.33. Kodiak Gas Services, Inc. has a twelve month low of $25.21 and a twelve month high of $50.43. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.10 and a quick ratio of 0.78.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.03. The business had revenue of $322.84 million during the quarter, compared to analysts' expectations of $335.10 million. Kodiak Gas Services had a net margin of 6.48% and a return on equity of 10.35%. The firm's quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 EPS. As a group, equities analysts predict that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current fiscal year.

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

Kodiak Gas Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 4th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date was Monday, August 4th. Kodiak Gas Services's dividend payout ratio is currently 200.00%.

Analyst Ratings Changes

Several brokerages have weighed in on KGS. JPMorgan Chase & Co. reiterated a "buy" rating and issued a $43.00 price objective (up previously from $42.00) on shares of Kodiak Gas Services in a research note on Monday, June 23rd. Mizuho dropped their price objective on shares of Kodiak Gas Services from $46.00 to $45.00 and set an "outperform" rating for the company in a research note on Tuesday, May 20th. Barclays lifted their price objective on shares of Kodiak Gas Services from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 14th. Finally, Royal Bank Of Canada boosted their target price on shares of Kodiak Gas Services from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Wednesday, August 13th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Kodiak Gas Services presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.10.

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.