Kodiak Gas Services, Inc. $KGS Shares Acquired by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets increased its Kodiak Gas Services stake by 151.6% in the fourth quarter, ending with 447,611 shares worth about $16.7 million. Several other institutional investors also added to KGS, with institutional ownership at 24.95%.
• Analysts have grown more bullish on the stock, with Goldman Sachs, Barclays, and Wells Fargo all raising targets or initiating positive coverage. The consensus rating is now Moderate Buy, with an average price target of $75.22.
• Kodiak Gas Services reported quarterly EPS of $0.59, beating estimates, and revenue of $345.76 million, up 4.9% year over year. The company also paid a quarterly dividend of $0.49 per share, equating to a 3.0% annualized yield.

BNP Paribas Financial Markets boosted its holdings in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 151.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 447,611 shares of the company's stock after purchasing an additional 269,694 shares during the period. BNP Paribas Financial Markets owned approximately 0.52% of Kodiak Gas Services worth $16,741,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in KGS. Principal Financial Group Inc. increased its stake in Kodiak Gas Services by 492.8% in the 3rd quarter. Principal Financial Group Inc. now owns 399,041 shares of the company's stock valued at $14,753,000 after buying an additional 331,732 shares during the period. Public Sector Pension Investment Board acquired a new position in Kodiak Gas Services in the 3rd quarter valued at approximately $9,491,000. Rhumbline Advisers increased its stake in Kodiak Gas Services by 126.9% in the 3rd quarter. Rhumbline Advisers now owns 179,160 shares of the company's stock valued at $6,624,000 after buying an additional 100,194 shares during the period. Westend Capital Management LLC acquired a new position in Kodiak Gas Services in the 4th quarter valued at approximately $13,585,000. Finally, New York State Common Retirement Fund increased its stake in Kodiak Gas Services by 395.1% in the 3rd quarter. New York State Common Retirement Fund now owns 84,838 shares of the company's stock valued at $3,136,000 after buying an additional 67,704 shares during the period. 24.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Kodiak Gas Services

In other news, CAO Ewan William Hamilton sold 5,797 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $56.18, for a total value of $325,675.46. Following the completion of the transaction, the chief accounting officer owned 34,346 shares in the company, valued at approximately $1,929,558.28. This represents a 14.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Randall J. Hogan acquired 6,000 shares of the company's stock in a transaction dated Friday, March 13th. The stock was acquired at an average price of $54.81 per share, with a total value of $328,860.00. Following the purchase, the director owned 28,406 shares in the company, valued at approximately $1,556,932.86. This represents a 26.78% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders sold 58,673 shares of company stock worth $3,269,110. 0.64% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on KGS shares. 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. The Goldman Sachs Group increased their price target on shares of Kodiak Gas Services from $69.00 to $88.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Barclays increased their price target on shares of Kodiak Gas Services from $60.00 to $76.00 and gave the stock an "overweight" rating in a research note on Thursday, May 21st. Wells Fargo & Company started coverage on shares of Kodiak Gas Services in a research note on Wednesday, May 27th. They set an "overweight" rating and a $93.00 price target on the stock. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Kodiak Gas Services in a research note on Friday, May 29th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $75.22.

Kodiak Gas Services Price Performance

NYSE KGS opened at $65.06 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 2.38. The company has a fifty day simple moving average of $66.41 and a 200 day simple moving average of $51.43. The company has a market cap of $5.78 billion, a P/E ratio of 87.91, a P/E/G ratio of 0.91 and a beta of 0.94. Kodiak Gas Services, Inc. has a 1 year low of $30.06 and a 1 year high of $77.68.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.05. Kodiak Gas Services had a net margin of 5.13% and a return on equity of 13.12%. The business had revenue of $345.76 million during the quarter, compared to the consensus estimate of $340.23 million. During the same period in the prior year, the firm earned $0.33 EPS. Kodiak Gas Services's quarterly revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts predict that Kodiak Gas Services, Inc. will post 2.35 EPS for the current year.

Kodiak Gas Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Monday, May 18th were issued a $0.49 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.96 dividend on an annualized basis and a yield of 3.0%. Kodiak Gas Services's dividend payout ratio is 264.86%.

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. 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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