Walleye Capital LLC Raises Position in Kodiak Gas Services, Inc. $KGS

Key Points

• Walleye Capital LLC has increased its stake in Kodiak Gas Services by 101.0%, owning about 0.09% of the company, valued at approximately $3.1 million.
• Kodiak Gas Services reported quarterly earnings of $0.49 per share, beating analysts' estimates of $0.46, and a revenue of $322.84 million, slightly below expectations.
• The company has announced a $50 million share repurchase program, indicating the board's confidence in the stock's undervaluation.

Walleye Capital LLC increased its position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 101.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,726 shares of the company's stock after acquiring an additional 41,559 shares during the period. Walleye Capital LLC owned about 0.09% of Kodiak Gas Services worth $3,086,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of KGS. Wells Fargo & Company MN grew its holdings in shares of Kodiak Gas Services by 102.3% in the fourth quarter. Wells Fargo & Company MN now owns 19,035 shares of the company's stock worth $777,000 after acquiring an additional 9,624 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Kodiak Gas Services in the fourth quarter worth $276,000. Barclays PLC grew its holdings in Kodiak Gas Services by 35.8% during the fourth quarter. Barclays PLC now owns 57,500 shares of the company's stock valued at $2,347,000 after purchasing an additional 15,150 shares during the period. First Trust Advisors LP grew its holdings in Kodiak Gas Services by 4.9% during the fourth quarter. First Trust Advisors LP now owns 148,301 shares of the company's stock valued at $6,055,000 after purchasing an additional 6,961 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Kodiak Gas Services by 1,154.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 681,641 shares of the company's stock valued at $27,832,000 after purchasing an additional 627,320 shares during the period. Institutional investors own 24.95% of the company's stock.

Kodiak Gas Services Price Performance

Shares of Kodiak Gas Services stock traded down $0.10 during trading hours on Monday, hitting $35.85. The company's stock had a trading volume of 716,224 shares, compared to its average volume of 2,191,407. The business has a 50 day moving average price of $33.37 and a two-hundred day moving average price of $35.29. Kodiak Gas Services, Inc. has a 12-month low of $25.21 and a 12-month high of $50.43. The company has a market cap of $3.15 billion, a PE ratio of 39.83 and a beta of 1.34. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.78 and a current ratio of 1.10.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. The business had revenue of $322.84 million for 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 revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.06 earnings per share. Analysts expect that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 4th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Monday, August 4th. Kodiak Gas Services's payout ratio is currently 200.00%.

Kodiak Gas Services announced that its board has approved a share repurchase program on Monday, August 11th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have issued reports on KGS shares. Royal Bank Of Canada boosted their price target on Kodiak Gas Services from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Wednesday, August 13th. Mizuho boosted their price target on Kodiak Gas Services from $45.00 to $47.00 and gave the company an "outperform" rating in a report on Friday. JPMorgan Chase & Co. reissued a "buy" rating and set a $43.00 price target (up previously from $42.00) on shares of Kodiak Gas Services in a report on Monday, June 23rd. Finally, Barclays boosted their price target on Kodiak Gas Services from $36.00 to $37.00 and gave the company an "equal weight" rating in a report on Thursday, August 14th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.30.

About Kodiak Gas Services

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.