Kodiak Gas Services, Inc. (NYSE:KGS) Shares Sold by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. significantly reduced its holdings in Kodiak Gas Services by 94.8% in the first quarter, now owning just 7,249 shares valued at $270,000.
• Institutional investors, including US Bancorp DE and TD Asset Management Inc., have recently increased their positions in Kodiak Gas Services, contributing to a total institutional ownership of approximately 24.95%.
• Kodiak Gas Services announced a quarterly dividend of $0.45 per share, reflecting a yield of 5.6% and a dividend payout ratio of 339.62%.

Jefferies Financial Group Inc. trimmed its holdings in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 94.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,249 shares of the company's stock after selling 131,311 shares during the period. Jefferies Financial Group Inc.'s holdings in Kodiak Gas Services were worth $270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KGS. Comerica Bank raised its position in shares of Kodiak Gas Services by 710.1% in 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 last quarter. Sterling Capital Management LLC raised its position in shares of Kodiak Gas Services by 1,322.6% in the 4th quarter. Sterling Capital Management LLC now owns 754 shares of the company's stock valued at $31,000 after purchasing an additional 701 shares during the last quarter. State of Wyoming purchased a new position in shares of Kodiak Gas Services in the 4th quarter valued at approximately $57,000. Amalgamated Bank raised 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 valued at $58,000 after purchasing an additional 444 shares during the last quarter. Finally, Montag A & Associates Inc. raised its position in shares of Kodiak Gas Services by 71.5% in the 1st quarter. Montag A & Associates Inc. now owns 2,062 shares of the company's stock valued at $77,000 after purchasing an additional 860 shares during the last quarter. 24.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Mizuho decreased 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 report on Tuesday, May 20th. JPMorgan Chase & Co. reissued a "buy" rating and set a $43.00 price target (up from $42.00) on shares of Kodiak Gas Services in a research report on Monday, June 23rd. Finally, Barclays reduced their price target on shares of Kodiak Gas Services from $41.00 to $36.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kodiak Gas Services currently has an average rating of "Moderate Buy" and a consensus price target of $40.64.

Kodiak Gas Services Stock Performance

Shares of NYSE KGS traded up $1.51 during midday trading on Tuesday, reaching $34.65. 1,444,577 shares of the stock were exchanged, compared to its average volume of 1,211,187. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 38.50 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 firm has a 50-day simple moving average of $33.22 and a two-hundred day simple moving average of $36.37. The company has a quick ratio of 0.87, a current ratio of 1.17 and a debt-to-equity ratio of 1.91.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.49 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 analysts' expectations of $335.10 million. Kodiak Gas Services had a net margin of 6.48% and a return on equity of 10.30%. The business's revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company earned $0.06 EPS. As a group, analysts anticipate that Kodiak Gas Services, Inc. will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services announced that its board has initiated a share repurchase plan on Monday, August 11th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 1.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Kodiak Gas Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 4th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $1.80 dividend on an annualized basis and a yield of 5.2%. Kodiak Gas Services's dividend payout ratio (DPR) is currently 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.