Rhumbline Advisers Has $2.26 Million Position in Kodiak Gas Services, Inc. $KGS

Key Points

• Rhumbline Advisers increased its stake in Kodiak Gas Services, raising ownership by 37.3% and holding approximately $2.25 million worth of shares.
• Kodiak Gas Services has received mixed ratings from analysts, with a consensus target price of $42.56 and a moderate buy rating following several price upgrades from firms like JPMorgan Chase and Mizuho.
• The company has declared a quarterly dividend of $0.45 per share, reflecting an annualized yield of 5.5%, even as it undertook a share buyback program of up to $50 million.

Rhumbline Advisers grew its stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 37.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,450 shares of the company's stock after purchasing an additional 16,408 shares during the quarter. Rhumbline Advisers owned about 0.07% of Kodiak Gas Services worth $2,255,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Amalgamated Bank increased its stake in shares of 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 purchasing an additional 444 shares during the last quarter. United Advisor Group LLC grew its holdings in Kodiak Gas Services by 4.4% during the fourth quarter. United Advisor Group LLC now owns 12,281 shares of the company's stock worth $501,000 after purchasing an additional 519 shares during the period. Kestra Private Wealth Services LLC increased its position in Kodiak Gas Services by 4.2% during the first quarter. Kestra Private Wealth Services LLC now owns 19,414 shares of the company's stock worth $724,000 after buying an additional 780 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its stake in Kodiak Gas Services by 11.2% in the first quarter. Dynamic Technology Lab Private Ltd now owns 7,820 shares of the company's stock valued at $292,000 after buying an additional 790 shares during the period. Finally, Quarry LP acquired a new stake in shares of Kodiak Gas Services in the first quarter valued at approximately $30,000. Institutional investors own 24.95% of the company's stock.

Kodiak Gas Services Price Performance

Shares of KGS stock traded down $0.79 on Friday, hitting $33.26. 6,210,672 shares of the company's stock were exchanged, compared to its average volume of 1,850,207. The company has a 50 day moving average of $33.59 and a 200 day moving average of $34.40. The stock has a market cap of $2.88 billion, a P/E ratio of 36.96 and a beta of 1.34. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.10 and a quick ratio of 0.78. Kodiak Gas Services, Inc. has a 12 month low of $28.37 and a 12 month high of $50.43.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. The firm had revenue of $322.84 million during the quarter, compared to the consensus estimate of $335.10 million. Kodiak Gas Services had a return on equity of 10.35% and a net margin of 6.48%.The business's quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.06 earnings per share. On average, equities research analysts predict that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services declared that its Board of Directors has approved a share buyback plan on Monday, August 11th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to purchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.

Kodiak Gas Services Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JPMorgan Chase & Co. reiterated a "buy" rating and set a $43.00 target price (up from $42.00) on shares of Kodiak Gas Services in a research note on Monday, June 23rd. Royal Bank Of Canada lifted their price objective on shares of Kodiak Gas Services from $42.00 to $43.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 13th. Zacks Research downgraded shares of Kodiak Gas Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 10th. Barclays raised their target price on shares of Kodiak Gas Services from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 14th. Finally, Mizuho upped their price target on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Kodiak Gas Services currently has a consensus rating of "Moderate Buy" and an average target price of $43.50.

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.