Hiddenite Capital Partners LP Invests $11.22 Million in Kodiak Gas Services, Inc. $KGS

Key Points

• Hiddenite Capital Partners disclosed a new fourth-quarter position in Kodiak Gas Services, buying 300,000 shares valued at about $11.22 million. The stake represents roughly 1.5% of Hiddenite’s portfolio and 0.35% of KGS shares outstanding.
• Kodiak Gas Services reported better-than-expected quarterly results, posting EPS of $0.59 versus $0.54 expected and revenue of $345.76 million, up 4.9% year over year. Analysts now expect the company to earn about $2.35 per share for the full year.
• The company also declared a quarterly dividend of $0.49 per share, payable May 28, which works out to an annualized yield of about 2.7%. Meanwhile, analysts remain generally positive, with a consensus rating of Moderate Buy and an average price target of $67.00.

Hiddenite Capital Partners LP bought a new position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 300,000 shares of the company's stock, valued at approximately $11,220,000. Kodiak Gas Services makes up approximately 1.5% of Hiddenite Capital Partners LP's portfolio, making the stock its 20th largest holding. Hiddenite Capital Partners LP owned 0.35% of Kodiak Gas Services as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in KGS. Principal Financial Group Inc. grew its stake in shares of Kodiak Gas Services by 492.8% in the 3rd quarter. Principal Financial Group Inc. now owns 399,041 shares of the company's stock worth $14,753,000 after buying an additional 331,732 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Kodiak Gas Services by 126.9% in the 3rd quarter. Rhumbline Advisers now owns 179,160 shares of the company's stock worth $6,624,000 after buying an additional 100,194 shares during the last quarter. Public Sector Pension Investment Board purchased a new stake in shares of Kodiak Gas Services in the 3rd quarter worth approximately $9,491,000. Westend Capital Management LLC purchased a new stake in shares of Kodiak Gas Services in the 4th quarter worth approximately $13,585,000. Finally, New York State Common Retirement Fund grew its stake in shares of Kodiak Gas Services by 395.1% in the 3rd quarter. New York State Common Retirement Fund now owns 84,838 shares of the company's stock worth $3,136,000 after buying an additional 67,704 shares during the last quarter. Institutional investors own 24.95% of the company's stock.

Insider Activity

In related news, Director Randall J. Hogan purchased 6,000 shares of the business's stock in a transaction on Friday, March 13th. The stock was acquired at an average price of $54.81 per share, with a total value of $328,860.00. Following the completion of the acquisition, the director owned 28,406 shares of the company's stock, valued at approximately $1,556,932.86. This trade represents a 26.78% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Ewan William Hamilton sold 5,797 shares of the business's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $56.18, for a total value of $325,675.46. Following the sale, the chief accounting officer directly owned 34,346 shares of the company's stock, valued at $1,929,558.28. This represents a 14.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders purchased 11,433 shares of company stock worth $624,360 and sold 58,673 shares worth $3,269,110. 0.64% of the stock is owned by corporate insiders.

Kodiak Gas Services Stock Performance

Shares of KGS opened at $73.55 on Friday. The business's fifty day simple moving average is $62.18 and its two-hundred day simple moving average is $47.71. The company has a current ratio of 1.28, a quick ratio of 0.57 and a debt-to-equity ratio of 2.38. Kodiak Gas Services, Inc. has a 12 month low of $30.06 and a 12 month high of $76.68. The company has a market cap of $6.53 billion, a price-to-earnings ratio of 99.39, a P/E/G ratio of 0.98 and a beta of 1.01.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its earnings results on Monday, May 11th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.54 by $0.05. Kodiak Gas Services had a return on equity of 13.12% and a net margin of 5.13%.The business had revenue of $345.76 million for the quarter, compared to the consensus estimate of $340.23 million. During the same period last year, the business posted $0.33 EPS. The company's revenue was up 4.9% compared to the same quarter last year. Research analysts anticipate that Kodiak Gas Services, Inc. will post 2.35 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Monday, May 18th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, May 18th. Kodiak Gas Services's dividend payout ratio is presently 264.86%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Zacks Research upgraded Kodiak Gas Services from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 6th. Citigroup upped their price target on Kodiak Gas Services from $63.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday. Wall Street Zen upgraded Kodiak Gas Services from a "sell" rating to a "hold" rating in a research note on Saturday, February 21st. Stifel Nicolaus set a $84.00 price target on Kodiak Gas Services in a research note on Tuesday. Finally, Barclays upped their price target on Kodiak Gas Services from $49.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, March 5th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Kodiak Gas Services has a consensus rating of "Moderate Buy" and a consensus price target of $67.00.

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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