Kodiak Gas Services, Inc. $KGS Stake Raised by Swiss National Bank

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 Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 61.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,100 shares of the company's stock after acquiring an additional 35,600 shares during the period. Swiss National Bank owned about 0.10% of Kodiak Gas Services worth $3,473,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of KGS. Comerica Bank increased its position in Kodiak Gas Services by 710.1% in the 4th 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 increased its position 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 worth $31,000 after purchasing an additional 701 shares during the last quarter. State of Wyoming acquired a new position in Kodiak Gas Services in the 4th quarter worth about $57,000. Amalgamated Bank increased its position 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 purchasing an additional 444 shares during the last quarter. Finally, Montag A & Associates Inc. increased its position in Kodiak Gas Services by 71.5% in the 1st quarter. Montag A & Associates Inc. now owns 2,062 shares of the company's stock worth $77,000 after purchasing an additional 860 shares during the last quarter. 24.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. JPMorgan Chase & Co. reaffirmed a "buy" rating and issued a $43.00 target price (up from $42.00) on shares of Kodiak Gas Services in a research report on Monday, June 23rd. Mizuho dropped their target price on Kodiak Gas Services from $46.00 to $45.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 20th. Barclays upped their target price 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. Finally, Royal Bank Of Canada increased their price objective on Kodiak Gas Services from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $41.10.

Kodiak Gas Services Stock Performance

Shares of NYSE KGS opened at $36.8570 on Thursday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.78 and a current ratio of 1.10. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 40.95 and a beta of 1.33. The business's 50-day simple moving average is $33.20 and its 200-day simple moving average is $35.95. Kodiak Gas Services, Inc. has a 52 week low of $25.21 and a 52 week high of $50.43.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.03. The business had revenue of $322.84 million for the quarter, compared to analyst estimates of $335.10 million. Kodiak Gas Services had a return on equity of 10.35% and a net margin of 6.48%.The firm's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.06 EPS. As a group, equities research analysts expect 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 stock repurchase plan on Monday, August 11th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to reacquire up to 1.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Kodiak Gas Services Announces Dividend

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. The ex-dividend date was Monday, August 4th. This represents a $1.80 annualized dividend and a yield of 4.9%. Kodiak Gas Services's dividend payout ratio is presently 200.00%.

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.

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