Kodiak Gas Services, Inc. $KGS Shares Bought by New York State Teachers Retirement System

Key Points

• New York State Teachers Retirement System increased its stake in Kodiak Gas Services by 144.2% in the fourth quarter, buying 18,793 additional shares and bringing its total to 31,829 shares worth about $1.19 million.
• Kodiak Gas Services reported quarterly earnings of $0.40 per share, missing analyst estimates of $0.53, though revenue came in slightly ahead at $332.87 million and rose 7.6% year over year.
• The company declared a quarterly dividend of $0.49 per share, equal to an annualized yield of 2.8%, while analysts currently rate the stock a consensus Moderate Buy with an average target price of $55.86.

New York State Teachers Retirement System lifted its stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 144.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,829 shares of the company's stock after purchasing an additional 18,793 shares during the quarter. New York State Teachers Retirement System's holdings in Kodiak Gas Services were worth $1,190,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Invesco Ltd. boosted its holdings in shares of Kodiak Gas Services by 29.5% during the third quarter. Invesco Ltd. now owns 6,305,789 shares of the company's stock valued at $233,125,000 after acquiring an additional 1,436,443 shares during the period. Vanguard Group Inc. raised its position in shares of Kodiak Gas Services by 33.8% during the 4th quarter. Vanguard Group Inc. now owns 6,170,360 shares of the company's stock worth $230,771,000 after buying an additional 1,559,172 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Kodiak Gas Services by 19.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,593,033 shares of the company's stock worth $95,868,000 after buying an additional 418,227 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Kodiak Gas Services by 58.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,983,360 shares of the company's stock worth $73,979,000 after acquiring an additional 730,180 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Kodiak Gas Services by 14.1% in the third quarter. American Century Companies Inc. now owns 1,851,322 shares of the company's stock valued at $68,443,000 after acquiring an additional 229,220 shares in the last quarter. Institutional investors own 24.95% of the company's stock.

Kodiak Gas Services Stock Performance

KGS opened at $69.64 on Friday. The company has a market cap of $5.98 billion, a PE ratio of 80.05, a price-to-earnings-growth ratio of 0.96 and a beta of 1.01. The stock has a 50-day moving average of $60.00 and a 200-day moving average of $46.17. Kodiak Gas Services, Inc. has a 52-week low of $30.06 and a 52-week high of $71.92. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.57 and a current ratio of 0.84.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.13). Kodiak Gas Services had a net margin of 6.16% and a return on equity of 11.55%. The company had revenue of $332.87 million during the quarter, compared to the consensus estimate of $330.95 million. During the same period in the previous year, the business posted $0.21 earnings per share. The firm's revenue was up 7.6% on a year-over-year basis. As a group, equities research analysts forecast that Kodiak Gas Services, Inc. will post 2.33 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Monday, May 18th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, May 18th. Kodiak Gas Services's dividend payout ratio is currently 225.29%.

Insider Activity at Kodiak Gas Services

In other news, CAO Ewan William Hamilton sold 5,797 shares of the firm's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $56.18, for a total value of $325,675.46. Following the sale, the chief accounting officer directly owned 34,346 shares of the company's stock, valued at approximately $1,929,558.28. This trade represents a 14.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alexander Newsom Darden bought 5,000 shares of the stock in a transaction on Friday, March 13th. The stock was acquired at an average cost of $54.75 per share, for a total transaction of $273,750.00. Following the acquisition, the director directly owned 5,000 shares in the company, valued at approximately $273,750. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 11,433 shares of company stock valued at $624,360 and sold 58,673 shares valued at $3,269,110. 0.64% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KGS. Zacks Research raised Kodiak Gas Services from a "strong sell" rating to a "hold" rating in a research note on Wednesday. The Goldman Sachs Group boosted their target price on Kodiak Gas Services from $60.00 to $69.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. Barclays upped their price objective on shares of Kodiak Gas Services from $49.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, March 5th. Royal Bank Of Canada increased their target price on Kodiak Gas Services from $45.00 to $64.00 and gave the company an "outperform" rating in a report on Thursday, March 19th. Finally, Mizuho increased their price target on shares of Kodiak Gas Services from $36.00 to $44.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 20th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $55.86.

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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