Kodiak Gas Services, Inc. $KGS Shares Purchased by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in Kodiak Gas Services by 9.0% during the first quarter, now holding approximately 0.47% of the company valued at $15.5 million.
• Kodiak Gas Services recently approved a $50 million share buyback program, indicating that the company's leadership believes its shares are undervalued.
• The company reported $0.49 earnings per share for the previous quarter, surpassing expectations, with an annual dividend of $1.80 per share leading to a 5.1% yield.

Northern Trust Corp increased its position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 9.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 416,697 shares of the company's stock after acquiring an additional 34,459 shares during the period. Northern Trust Corp owned approximately 0.47% of Kodiak Gas Services worth $15,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Comerica Bank increased its holdings in shares of Kodiak Gas Services by 710.1% in the fourth quarter. Comerica Bank now owns 721 shares of the company's stock valued at $29,000 after purchasing an additional 632 shares during the period. State of Wyoming purchased a new stake in Kodiak Gas Services in the fourth quarter valued at approximately $57,000. Amalgamated Bank increased its holdings in Kodiak Gas Services by 40.0% in the 1st quarter. Amalgamated Bank now owns 1,554 shares of the company's stock worth $58,000 after buying an additional 444 shares during the period. Covestor Ltd increased its holdings in Kodiak Gas Services by 33,700.0% in the 1st quarter. Covestor Ltd now owns 1,690 shares of the company's stock worth $63,000 after buying an additional 1,685 shares during the period. Finally, Montag A & Associates Inc. raised its position in Kodiak Gas Services by 71.5% during the 1st quarter. Montag A & Associates Inc. now owns 2,062 shares of the company's stock worth $77,000 after buying an additional 860 shares during the last quarter. Hedge funds and other institutional investors own 24.95% of the company's stock.

Kodiak Gas Services Stock Performance

Shares of KGS stock opened at $35.60 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 0.78 and a debt-to-equity ratio of 1.89. Kodiak Gas Services, Inc. has a 12-month low of $25.21 and a 12-month high of $50.43. The business's 50 day moving average is $33.43 and its two-hundred day moving average is $35.22. The company has a market capitalization of $3.12 billion, a P/E ratio of 39.56 and a beta of 1.34.

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 for the quarter, topping the consensus estimate of $0.46 by $0.03. Kodiak Gas Services had a return on equity of 10.35% and a net margin of 6.48%.The business had revenue of $322.84 million during the quarter, compared to the consensus estimate of $335.10 million. During the same period in the prior year, the company posted $0.06 EPS. The business's quarterly revenue was up 4.2% on a year-over-year basis. Analysts expect that Kodiak Gas Services, Inc. will post 1.12 EPS for the current fiscal year.

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

Kodiak Gas Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 4th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend was Monday, August 4th. Kodiak Gas Services's dividend payout ratio (DPR) is presently 200.00%.

Analyst Ratings Changes

A number of analysts have recently weighed in on KGS shares. Barclays increased their price objective 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. Royal Bank Of Canada upped their price target on shares of Kodiak Gas Services from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. reiterated a "buy" rating and set a $43.00 price objective (up previously from $42.00) on shares of Kodiak Gas Services in a research note on Monday, June 23rd. Finally, Mizuho upped their target price on Kodiak Gas Services from $45.00 to $47.00 and gave the stock an "outperform" rating in a research note on Friday. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $41.30.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.