Kayne Anderson Capital Advisors LP Makes New $84.82 Million Investment in Kodiak Gas Services, Inc. $KGS

Key Points

• Kayne Anderson Capital Advisors acquired 1.13 million Kodiak Gas Services shares worth approximately $84.82 million, giving it a 1.27% stake and making KGS its 16th-largest holding.
• Analysts remain broadly positive, with 10 Buy ratings and two Holds, an overall “Moderate Buy” consensus, and an average price target of $78.89 versus the reported $60.35 opening price.
• Kodiak reported 21.2% year-over-year revenue growth to $391.1 million, though quarterly EPS of $0.55 missed expectations; the company also announced a $0.49 quarterly dividend, representing a 3.2% annualized yield.

Kayne Anderson Capital Advisors LP acquired a new position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,128,985 shares of the company's stock, valued at approximately $84,821,000. Kodiak Gas Services makes up 1.7% of Kayne Anderson Capital Advisors LP's portfolio, making the stock its 16th largest holding. Kayne Anderson Capital Advisors LP owned approximately 1.27% of Kodiak Gas Services as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KGS. Harbor Investment Advisory LLC purchased a new stake in Kodiak Gas Services during the 2nd quarter worth $76,000. State of Wyoming raised its position in Kodiak Gas Services by 201.7% in the fourth quarter. State of Wyoming now owns 1,219 shares of the company's stock valued at $46,000 after purchasing an additional 815 shares during the period. EverSource Wealth Advisors LLC raised its position in Kodiak Gas Services by 1,501.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company's stock valued at $42,000 after purchasing an additional 1,156 shares during the period. Hilltop National Bank acquired a new position in shares of Kodiak Gas Services during the second quarter worth about $102,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Kodiak Gas Services by 80.4% in the third quarter. PNC Financial Services Group Inc. now owns 1,449 shares of the company's stock worth $54,000 after buying an additional 646 shares during the period. Hedge funds and other institutional investors own 24.95% of the company's stock.

Insider Activity

In other Kodiak Gas Services news, CEO Robert Michael Mckee sold 6,008 shares of the firm's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $62.39, for a total transaction of $374,839.12. Following the completion of the transaction, the chief executive officer directly owned 298,589 shares of the company's stock, valued at $18,628,967.71. This trade represents a 1.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ewan William Hamilton sold 2,729 shares of the business's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $68.62, for a total transaction of $187,263.98. Following the completion of the sale, the chief accounting officer directly owned 31,617 shares of the company's stock, valued at $2,169,558.54. The trade was a 7.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 19,531 shares of company stock worth $1,296,158 over the last ninety days. Insiders own 0.64% of the company's stock.

Wall Street Analysts Forecast Growth

KGS has been the subject of a number of recent research reports. The Goldman Sachs Group increased their target price on Kodiak Gas Services from $69.00 to $88.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Piper Sandler started coverage on Kodiak Gas Services in a report on Tuesday, July 28th. They issued an "overweight" rating and a $78.00 price target for the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Kodiak Gas Services in a research report on Friday, May 29th. Zacks Research upgraded shares of Kodiak Gas Services from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 6th. Finally, Barclays reduced their target price on shares of Kodiak Gas Services from $76.00 to $72.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 8th. Ten 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, the stock has an average rating of "Moderate Buy" and a consensus target price of $78.89.

Kodiak Gas Services Price Performance

KGS stock opened at $60.35 on Friday. The stock's 50 day moving average is $65.34 and its two-hundred day moving average is $62.45. Kodiak Gas Services, Inc. has a 52-week low of $32.55 and a 52-week high of $77.68. The company has a market capitalization of $6.10 billion, a PE ratio of 71.85, a P/E/G ratio of 0.87 and a beta of 0.97. The company has a quick ratio of 1.15, a current ratio of 1.45 and a debt-to-equity ratio of 1.28.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.12). Kodiak Gas Services had a net margin of 5.77% and a return on equity of 11.92%. The business had revenue of $391.12 million for the quarter, compared to analysts' expectations of $386.30 million. During the same quarter last year, the company posted $0.43 earnings per share. The business's quarterly revenue was up 21.2% compared to the same quarter last year. Analysts predict that Kodiak Gas Services, Inc. will post 2.46 earnings per share for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Monday, August 17th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, August 17th. Kodiak Gas Services's dividend payout ratio is 233.33%.

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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