Price T Rowe Associates Inc. MD Has $58.27 Million Stock Position in Kodiak Gas Services, Inc. $KGS

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Kodiak Gas Services by 5.3%, owning 1.76% of the company worth approximately $58.27 million after selling 88,148 shares.
• Kodiak Gas Services announced a $0.45 quarterly dividend, representing an annualized yield of 5.2%, but has a high dividend payout ratio of 200%.
• The company reported a quarterly earnings per share (EPS) of $0.49, surpassing estimates, while its revenue of $322.84 million fell short of analyst expectations of $335.10 million.

Price T Rowe Associates Inc. MD decreased its stake in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,562,035 shares of the company's stock after selling 88,148 shares during the period. Price T Rowe Associates Inc. MD owned about 1.76% of Kodiak Gas Services worth $58,265,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Zimmer Partners LP raised its stake in shares of Kodiak Gas Services by 88.1% during the fourth quarter. Zimmer Partners LP now owns 3,347,700 shares of the company's stock valued at $136,687,000 after acquiring an additional 1,567,849 shares during the last quarter. Invesco Ltd. raised its stake in shares of Kodiak Gas Services by 3.5% during the first quarter. Invesco Ltd. now owns 3,044,939 shares of the company's stock valued at $113,576,000 after acquiring an additional 102,157 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Kodiak Gas Services by 9.0% during the first quarter. Vanguard Group Inc. now owns 2,897,588 shares of the company's stock valued at $108,080,000 after acquiring an additional 238,573 shares during the last quarter. Encompass Capital Advisors LLC bought a new position in shares of Kodiak Gas Services during the fourth quarter valued at $66,122,000. Finally, American Century Companies Inc. raised its stake in shares of Kodiak Gas Services by 38.6% during the first quarter. American Century Companies Inc. now owns 1,302,080 shares of the company's stock valued at $48,568,000 after acquiring an additional 362,621 shares during the last quarter. Institutional investors own 24.95% of the company's stock.

Kodiak Gas Services Stock Down 0.3%

KGS traded down $0.10 during midday trading on Monday, hitting $35.85. The company had a trading volume of 716,224 shares, compared to its average volume of 2,191,407. Kodiak Gas Services, Inc. has a 52 week low of $25.21 and a 52 week high of $50.43. The company has a quick ratio of 0.78, a current ratio of 1.10 and a debt-to-equity ratio of 1.89. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of 39.83 and a beta of 1.34. The stock's 50 day moving average price is $33.37 and its 200 day moving average price is $35.29.

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

Kodiak Gas Services announced that its board has authorized a stock repurchase plan on Monday, August 11th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to purchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Kodiak Gas Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 4th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Monday, August 4th. Kodiak Gas Services's payout ratio is 200.00%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on KGS. Barclays raised their price target on shares of Kodiak Gas Services from $36.00 to $37.00 and gave the company an "equal weight" rating in a research note on Thursday, August 14th. Royal Bank Of Canada lifted their target price on shares of Kodiak Gas Services from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. reissued a "buy" rating and set a $43.00 target price (up previously from $42.00) on shares of Kodiak Gas Services in a research note on Monday, June 23rd. Finally, Mizuho lifted their target price on shares of 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, Kodiak Gas Services currently has an average rating of "Moderate Buy" and a consensus 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.