Ghisallo Capital Management LLC Grows Holdings in Kodiak Gas Services, Inc. $KGS

Key Points

• Ghisallo Capital Management LLC increased its stake in Kodiak Gas Services by 74.1%, now owning 470,000 shares valued at approximately $17.53 million.
• Several institutional investors, including Amalgamated Bank and Rhumbline Advisers, have also raised their holdings in Kodiak Gas Services during the first quarter.
• Kodiak Gas Services has received positive analyst ratings, with a consensus rating of "Moderate Buy" and an average price target of $41.30.

Ghisallo Capital Management LLC grew its holdings in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 74.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 470,000 shares of the company's stock after acquiring an additional 200,000 shares during the period. Kodiak Gas Services accounts for 1.5% of Ghisallo Capital Management LLC's portfolio, making the stock its 16th largest holding. Ghisallo Capital Management LLC owned 0.53% of Kodiak Gas Services worth $17,531,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank raised its position in shares of Kodiak Gas Services by 40.0% during the 1st quarter. Amalgamated Bank now owns 1,554 shares of the company's stock valued at $58,000 after purchasing an additional 444 shares during the period. United Advisor Group LLC raised its position in shares of Kodiak Gas Services by 4.4% during the 4th quarter. United Advisor Group LLC now owns 12,281 shares of the company's stock valued at $501,000 after purchasing an additional 519 shares during the period. Comerica Bank raised its position in shares of Kodiak Gas Services by 710.1% during the 4th quarter. Comerica Bank now owns 721 shares of the company's stock valued at $29,000 after purchasing an additional 632 shares during the period. Kestra Private Wealth Services LLC raised its position in shares of Kodiak Gas Services by 4.2% during the 1st quarter. Kestra Private Wealth Services LLC now owns 19,414 shares of the company's stock valued at $724,000 after purchasing an additional 780 shares during the period. Finally, Quarry LP bought a new stake in shares of Kodiak Gas Services during the 1st quarter valued at $30,000. 24.95% of the stock is currently owned by institutional investors.

Kodiak Gas Services Stock Performance

NYSE:KGS traded down $1.21 during trading hours on Friday, hitting $35.31. 724,757 shares of the company were exchanged, compared to its average volume of 1,215,689. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 39.21 and a beta of 1.34. Kodiak Gas Services, Inc. has a 52-week low of $25.21 and a 52-week 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. The company's 50 day moving average price is $33.50 and its 200-day moving average price is $35.17.

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

Kodiak Gas Services declared that its Board of Directors has approved a stock repurchase program on Monday, August 11th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Kodiak Gas Services Dividend Announcement

The company 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 annualized dividend and a yield of 5.1%. The ex-dividend date was Monday, August 4th. Kodiak Gas Services's dividend payout ratio (DPR) is presently 200.00%.

Analyst Ratings Changes

Several analysts have recently commented on KGS shares. Barclays raised their price objective on shares of Kodiak Gas Services from $36.00 to $37.00 and gave the company an "equal weight" rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. reiterated a "buy" rating and set a $43.00 price objective (up previously from $42.00) on shares of Kodiak Gas Services in a report on Monday, June 23rd. Royal Bank Of Canada lifted their price objective on shares of Kodiak Gas Services from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Wednesday, August 13th. Finally, Mizuho lifted their price objective on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $41.30.

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.