Jacobs Levy Equity Management Inc. Sells 296,661 Shares of Kodiak Gas Services, Inc. $KGS

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Kodiak Gas Services by 40.0% in the first quarter, ending with approximately 444,100 shares valued at $16.57 million.
• Kodiak Gas Services has recently announced a $50 million stock repurchase program, indicating the board's belief that the stock is undervalued.
• The company declared a quarterly dividend of $0.45 per share, resulting in a dividend yield of 5.1%, despite a high payout ratio of 200.00%.

Jacobs Levy Equity Management Inc. lessened its position in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 40.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 444,100 shares of the company's stock after selling 296,661 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.50% of Kodiak Gas Services worth $16,565,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Comerica Bank increased its holdings in Kodiak Gas Services by 710.1% during the 4th quarter. Comerica Bank now owns 721 shares of the company's stock worth $29,000 after acquiring an additional 632 shares during the period. Quarry LP bought a new stake in Kodiak Gas Services during the 1st quarter worth approximately $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Kodiak Gas Services during the 1st quarter worth approximately $37,000. State of Wyoming bought a new stake in Kodiak Gas Services during the 4th quarter worth approximately $57,000. Finally, Amalgamated Bank increased its holdings in Kodiak Gas Services by 40.0% during the 1st quarter. Amalgamated Bank now owns 1,554 shares of the company's stock worth $58,000 after acquiring an additional 444 shares during the period. Institutional investors own 24.95% of the company's stock.

Analysts Set New Price Targets

KGS has been the topic of a number of research analyst reports. Royal Bank Of Canada increased their price target on shares of Kodiak Gas Services from $42.00 to $43.00 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. Barclays increased their price target on shares of Kodiak Gas Services from $36.00 to $37.00 and gave the stock an "equal weight" rating in a report on Thursday, August 14th. JPMorgan Chase & Co. reissued a "buy" rating and issued a $43.00 price target (up previously from $42.00) on shares of Kodiak Gas Services in a report on Monday, June 23rd. Mizuho increased their price target on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Finally, Zacks Research lowered shares of Kodiak Gas Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $41.30.

Kodiak Gas Services Trading Down 0.9%

Kodiak Gas Services stock traded down $0.29 during trading hours on Friday, reaching $33.42. The stock had a trading volume of 587,046 shares, compared to its average volume of 1,296,591. The stock has a market cap of $2.90 billion, a PE ratio of 37.12 and a beta of 1.34. Kodiak Gas Services, Inc. has a 52 week low of $26.12 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 has a fifty day simple moving average of $33.49 and a 200-day simple moving average of $34.79.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $335.10 million. Kodiak Gas Services had a net margin of 6.48% and a return on equity of 10.35%. The company's revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.06 EPS. Analysts forecast that Kodiak Gas Services, Inc. will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 4th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.4%. Kodiak Gas Services's payout ratio is presently 200.00%.

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

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.