Wellington Management Group LLP Sells 202,331 Shares of Kodiak Gas Services, Inc. $KGS

Key Points

• Wellington Management Group LLP reduced its stake in Kodiak Gas Services by 19.4%, now holding about 840,337 shares valued at approximately $31.35 million.
• Kodiak Gas Services reported a Q2 EPS of $0.49, exceeding expectations, and announced a stock buyback plan worth $50 million, suggesting confidence in its stock value.
• Recent analyst reports reflect a mixed outlook, with Mizuho lowering its price target to $45.00, while Royal Bank increased it to $43.00, indicating a consensus of a "Moderate Buy" rating.

Wellington Management Group LLP decreased its stake in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 19.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 840,337 shares of the company's stock after selling 202,331 shares during the quarter. Wellington Management Group LLP owned approximately 0.95% of Kodiak Gas Services worth $31,345,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Comerica Bank increased its position in Kodiak Gas Services by 710.1% in the fourth quarter. Comerica Bank now owns 721 shares of the company's stock worth $29,000 after buying an additional 632 shares in the last quarter. State of Wyoming purchased a new stake in Kodiak Gas Services in the fourth quarter worth about $57,000. Amalgamated Bank increased its position in Kodiak Gas Services by 40.0% in the first quarter. Amalgamated Bank now owns 1,554 shares of the company's stock worth $58,000 after buying an additional 444 shares in the last quarter. Covestor Ltd increased its position in Kodiak Gas Services by 33,700.0% in the first quarter. Covestor Ltd now owns 1,690 shares of the company's stock worth $63,000 after buying an additional 1,685 shares in the last quarter. Finally, Montag A & Associates Inc. increased its position in Kodiak Gas Services by 71.5% in the first quarter. Montag A & Associates Inc. now owns 2,062 shares of the company's stock worth $77,000 after buying an additional 860 shares in the last quarter. Hedge funds and other institutional investors own 24.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KGS. Barclays upped their price target on Kodiak Gas Services from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. restated a "buy" rating and issued a $43.00 price target (up previously from $42.00) on shares of Kodiak Gas Services in a research report on Monday, June 23rd. Royal Bank Of Canada increased their target price on Kodiak Gas Services from $42.00 to $43.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 13th. Finally, Mizuho increased their target price on Kodiak Gas Services from $45.00 to $47.00 and gave the stock an "outperform" rating in a research report on Friday. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $41.30.

Kodiak Gas Services Price Performance

Shares of NYSE:KGS traded down $0.10 during trading on Friday, hitting $35.85. 716,224 shares of the company's stock were exchanged, compared to its average volume of 2,234,434. The business's 50-day simple moving average is $33.37 and its 200 day simple moving average is $35.35. Kodiak Gas Services, Inc. has a 52-week low of $25.21 and a 52-week high of $50.43. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 39.83 and a beta of 1.33. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.10 and a quick ratio of 0.78.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.49 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $322.84 million during the quarter, compared to analyst estimates of $335.10 million. During the same period in the prior year, the company earned $0.06 earnings per share. The firm's revenue was up 4.2% on a year-over-year basis. As a group, equities analysts predict that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services declared that its Board of Directors has approved a share repurchase plan on Monday, August 11th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to repurchase up to 1.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

Kodiak Gas Services Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.80 dividend on an annualized basis and a yield of 5.0%. Kodiak Gas Services's dividend payout ratio is presently 200.00%.

Kodiak Gas Services Company 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.