Swiss National Bank Increases Stake in Kodiak Gas Services, Inc. $KGS

Key Points

• Swiss National Bank increased its stake in Kodiak Gas Services by 61.9% during the 1st quarter, holding a total of 93,100 shares valued at approximately $3.47 million.
• JPMorgan Chase & Co. reaffirmed a "buy" rating for Kodiak Gas Services with a raised target price of $43.00, while the company currently has a consensus "Moderate Buy" rating and an average price target of $41.10.
• Kodiak Gas Services recently announced a $50 million stock repurchase plan and declared a quarterly dividend of $0.45 per share, reflecting a strong commitment to returning value to shareholders.

Swiss National Bank increased its holdings in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 61.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,100 shares of the company's stock after acquiring an additional 35,600 shares during the quarter. Swiss National Bank owned about 0.10% of Kodiak Gas Services worth $3,473,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KGS. Wells Fargo & Company MN boosted its holdings in Kodiak Gas Services by 102.3% in the 4th quarter. Wells Fargo & Company MN now owns 19,035 shares of the company's stock valued at $777,000 after purchasing an additional 9,624 shares during the last quarter. Legal & General Group Plc boosted its holdings in Kodiak Gas Services by 7.2% in the 4th quarter. Legal & General Group Plc now owns 30,251 shares of the company's stock valued at $1,235,000 after purchasing an additional 2,034 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Kodiak Gas Services in the 4th quarter valued at about $276,000. Sterling Capital Management LLC boosted its holdings in Kodiak Gas Services by 1,322.6% in the 4th quarter. Sterling Capital Management LLC now owns 754 shares of the company's stock valued at $31,000 after purchasing an additional 701 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in Kodiak Gas Services by 72.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,406 shares of the company's stock valued at $139,000 after purchasing an additional 1,431 shares during the last quarter. 24.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. reiterated a "buy" rating and issued a $43.00 target price (up from $42.00) on shares of Kodiak Gas Services in a report on Monday, June 23rd. Barclays boosted their target price on shares of Kodiak Gas Services from $36.00 to $37.00 and gave the company an "equal weight" rating in a report on Thursday, August 14th. Mizuho decreased their target price on shares of Kodiak Gas Services from $46.00 to $45.00 and set an "outperform" rating on the stock in a report on Tuesday, May 20th. Finally, Royal Bank Of Canada boosted their target price 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. 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 $41.10.

Kodiak Gas Services Stock Up 1.2%

KGS traded up $0.42 during trading hours on Tuesday, hitting $34.76. 1,686,143 shares of the company's stock were exchanged, compared to its average volume of 2,178,493. Kodiak Gas Services, Inc. has a 12-month low of $25.21 and a 12-month high of $50.43. The firm has a 50 day moving average of $33.30 and a 200 day moving average of $35.55. The firm has a market cap of $3.05 billion, a P/E ratio of 38.62 and a beta of 1.33. 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 (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 net margin of 6.48% and a return on equity of 10.35%. The firm had revenue of $322.84 million for the quarter, compared to the consensus estimate of $335.10 million. During the same period in the prior year, the firm earned $0.06 EPS. The firm's revenue for the quarter was up 4.2% on a year-over-year basis. Analysts predict that Kodiak Gas Services, Inc. will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services announced that its Board of Directors has authorized a stock repurchase program on Monday, August 11th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 1.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its shares are undervalued.

Kodiak Gas Services Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Monday, August 4th. 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.