Kodiak Gas Services, Inc. $KGS Holdings Trimmed by HWG Holdings LP

Key Points

• HWG Holdings LP sold 112,079 shares of Kodiak Gas Services, Inc., reducing its stake by 75.7%, leaving it with 36,043 shares valued at $1,235,000.
• Various hedge funds increased their stakes, with Goldman Sachs Group Inc. raising their position by 58.3% in the first quarter, now owning 1,983,360 shares.
• Kodiak Gas Services declared a quarterly dividend of $0.45 per share, equating to an annualized dividend yield of 5.5%.

HWG Holdings LP decreased its position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 75.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,043 shares of the company's stock after selling 112,079 shares during the quarter. HWG Holdings LP's holdings in Kodiak Gas Services were worth $1,235,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Amalgamated Bank grew its position in shares of 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 acquiring an additional 444 shares in the last quarter. United Advisor Group LLC boosted its position in 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. Kestra Private Wealth Services LLC boosted its position in 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. Dynamic Technology Lab Private Ltd boosted its position in Kodiak Gas Services by 11.2% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 7,820 shares of the company's stock valued at $292,000 after purchasing an additional 790 shares during the period. Finally, Quarry LP acquired a new position in Kodiak Gas Services during the 1st quarter valued at approximately $30,000. Institutional investors and hedge funds own 24.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KGS. Royal Bank Of Canada boosted their price objective on Kodiak Gas Services from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Wednesday, August 13th. Zacks Research lowered Kodiak Gas Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 10th. Barclays boosted their price objective on 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. Mizuho boosted their price objective on Kodiak Gas Services from $45.00 to $47.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Finally, JPMorgan Chase & Co. restated a "buy" rating and set a $43.00 price objective (up previously from $42.00) on shares of Kodiak Gas Services in a research report on Monday, June 23rd. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Kodiak Gas Services has an average rating of "Moderate Buy" and a consensus target price of $43.50.

Kodiak Gas Services Stock Performance

Shares of NYSE KGS traded up $0.63 during midday trading on Monday, reaching $33.89. 1,038,625 shares of the company traded hands, compared to its average volume of 2,096,789. Kodiak Gas Services, Inc. has a 52 week low of $28.37 and a 52 week high of $50.43. The stock has a 50-day moving average price of $33.60 and a 200 day moving average price of $34.40. 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 has a market cap of $2.94 billion, a price-to-earnings ratio of 37.66 and a beta of 1.34.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $335.10 million. During the same period in the previous year, the business earned $0.06 earnings per share. The company's revenue was up 4.2% on a year-over-year basis. Sell-side analysts anticipate that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current fiscal year.

Kodiak Gas Services declared that its Board of Directors has authorized a stock buyback plan on Monday, August 11th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to reacquire up to 1.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Kodiak Gas Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 4th were issued a $0.45 dividend. The ex-dividend date was Monday, August 4th. This represents a $1.80 annualized dividend and a dividend yield of 5.3%. Kodiak Gas Services's dividend payout ratio is 200.00%.

Kodiak Gas Services 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.