Kodiak Gas Services, Inc. $KGS Holdings Decreased by Tortoise Capital Advisors L.L.C.

Key Points

• Tortoise Capital Advisors reduced its holdings in Kodiak Gas Services by 2.7%, now owning 776,423 shares, with the stock comprising 0.4% of its portfolio.
• Kodiak Gas Services announced a share buyback program authorizing the repurchase of up to $50 million in shares, indicating management's belief that the stock is undervalued.
• The company declared a quarterly dividend of $0.45 per share, representing a 5.0% yield, with a payout ratio currently at 200%.

Tortoise Capital Advisors L.L.C. lowered its stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 2.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 776,423 shares of the company's stock after selling 21,327 shares during the quarter. Kodiak Gas Services makes up about 0.4% of Tortoise Capital Advisors L.L.C.'s investment portfolio, making the stock its 28th largest holding. Tortoise Capital Advisors L.L.C. owned approximately 0.88% of Kodiak Gas Services worth $28,961,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Comerica Bank lifted its stake in Kodiak Gas Services by 710.1% during the fourth quarter. Comerica Bank now owns 721 shares of the company's stock worth $29,000 after purchasing an additional 632 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Kodiak Gas Services by 1,322.6% during the fourth quarter. Sterling Capital Management LLC now owns 754 shares of the company's stock worth $31,000 after purchasing an additional 701 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Kodiak Gas Services during the first quarter worth $37,000. State of Wyoming bought a new position in Kodiak Gas Services during the fourth quarter worth $57,000. Finally, Amalgamated Bank lifted its stake in Kodiak Gas Services by 40.0% during the first quarter. Amalgamated Bank now owns 1,554 shares of the company's stock worth $58,000 after purchasing an additional 444 shares during the last quarter. Institutional investors and hedge funds own 24.95% of the company's stock.

Kodiak Gas Services Stock Performance

Shares of NYSE KGS traded up $0.42 during midday trading on Tuesday, reaching $34.76. 1,686,143 shares of the company traded hands, compared to its average volume of 1,229,332. Kodiak Gas Services, Inc. has a 52 week low of $25.21 and a 52 week high of $50.43. The stock has a 50-day moving average price of $33.28 and a 200 day moving average price of $35.56. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.10 and a quick ratio of 0.78. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 38.62 and a beta of 1.33.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $322.84 million for the quarter, compared to analysts' expectations of $335.10 million. During the same period in the previous year, the business earned $0.06 earnings per share. The company's revenue was up 4.2% on a year-over-year basis. Sell-side 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 of Directors has authorized a share repurchase plan on Monday, August 11th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.8% of its stock through open market purchases. Stock buyback plans are typically an indication 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. Investors of record on Monday, August 4th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date was Monday, August 4th. Kodiak Gas Services's payout ratio is currently 200.00%.

Wall Street Analysts Forecast Growth

KGS has been the topic of several research analyst reports. Mizuho reduced their price objective on Kodiak Gas Services from $46.00 to $45.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 20th. JPMorgan Chase & Co. restated a "buy" rating and set a $43.00 price objective (up from $42.00) on shares of Kodiak Gas Services in a research note on Monday, June 23rd. Barclays raised their price objective on 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. Finally, Royal Bank Of Canada raised their target price on Kodiak Gas Services from $42.00 to $43.00 and gave the company an "outperform" rating in a research note on Wednesday, August 13th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.10.

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.