Kodiak Gas Services, Inc. $KGS Shares Bought by Rhumbline Advisers

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 lifted its position in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 37.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of KGS. Ameriprise Financial Inc. grew its holdings in shares of Kodiak Gas Services by 57.6% during the 4th quarter. Ameriprise Financial Inc. now owns 190,871 shares of the company's stock worth $7,793,000 after purchasing an additional 69,747 shares during the period. Deutsche Bank AG grew its holdings in shares of Kodiak Gas Services by 281.2% during the 4th quarter. Deutsche Bank AG now owns 56,644 shares of the company's stock worth $2,313,000 after purchasing an additional 41,784 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Kodiak Gas Services by 68.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,517 shares of the company's stock worth $756,000 after purchasing an additional 7,516 shares during the period. Millennium Management LLC grew its holdings in shares of Kodiak Gas Services by 93.7% during the 4th quarter. Millennium Management LLC now owns 409,631 shares of the company's stock worth $16,725,000 after purchasing an additional 198,187 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in shares of Kodiak Gas Services by 163.4% during the 4th quarter. Nuveen Asset Management LLC now owns 98,441 shares of the company's stock worth $4,019,000 after purchasing an additional 61,069 shares during the period. Hedge funds and other institutional investors own 24.95% of the company's stock.

Kodiak Gas Services Stock Down 2.3%

Shares of KGS traded down $0.79 during trading on Friday, reaching $33.26. The company's stock had a trading volume of 6,210,672 shares, compared to its average volume of 2,096,789. The company has a fifty day moving average of $33.59 and a two-hundred day moving average of $34.40. Kodiak Gas Services, Inc. has a twelve month low of $28.37 and a twelve month high of $50.43. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 36.96 and a beta of 1.34. The company has a quick ratio of 0.78, a current ratio of 1.10 and a debt-to-equity ratio of 1.89.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.03. The company had revenue of $322.84 million for the quarter, compared to analyst estimates of $335.10 million. Kodiak Gas Services had a return on equity of 10.35% and a net margin of 6.48%.Kodiak Gas Services's quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.06 EPS. On average, sell-side analysts predict that Kodiak Gas Services, Inc. will post 1.12 EPS for the current fiscal year.

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

Kodiak Gas Services Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Barclays boosted their target price on Kodiak Gas Services from $36.00 to $37.00 and gave the stock an "equal weight" rating in a report on Thursday, August 14th. Zacks Research cut Kodiak Gas Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 10th. Mizuho upped their price target on Kodiak Gas Services from $45.00 to $47.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. JPMorgan Chase & Co. restated 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. Finally, Royal Bank Of Canada upped their price target on Kodiak Gas Services from $42.00 to $43.00 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. Seven 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, the company 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.