Kodiak Gas Services, Inc. $KGS Stock Purchased by Chickasaw Capital Management LLC

Key Points

• Chickasaw Capital Management increased its Kodiak Gas Services stake by 318.7% in the third quarter, purchasing 774,357 additional shares to own approximately 1.0% of the company, valued at $53.9 million.
• Several other institutions also increased or initiated positions, while company insiders sold 20,336 shares worth roughly $1.22 million over the past 90 days.
• Kodiak shares opened at $54.54, below their 50-day and 200-day moving averages. Analysts maintain a “Moderate Buy” consensus with an average price target of $77.89, despite the company’s latest quarterly EPS missing estimates.

Chickasaw Capital Management LLC boosted its position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 318.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,017,357 shares of the company's stock after purchasing an additional 774,357 shares during the quarter. Kodiak Gas Services comprises approximately 1.9% of Chickasaw Capital Management LLC's investment portfolio, making the stock its 12th largest position. Chickasaw Capital Management LLC owned about 1.00% of Kodiak Gas Services worth $53,889,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KGS. Core Capital Management & Research inc. purchased a new position in shares of Kodiak Gas Services in the second quarter worth about $64,000. Engineers Gate Manager LP acquired a new stake in Kodiak Gas Services in the 2nd quarter valued at about $424,000. Squarepoint Ops LLC raised its holdings in Kodiak Gas Services by 5,472.9% in the 2nd quarter. Squarepoint Ops LLC now owns 589,510 shares of the company's stock valued at $44,290,000 after acquiring an additional 600,482 shares during the last quarter. Arizona State Retirement System lifted its stake in Kodiak Gas Services by 13.6% in the 2nd quarter. Arizona State Retirement System now owns 26,724 shares of the company's stock worth $2,008,000 after purchasing an additional 3,189 shares in the last quarter. Finally, Nykredit A S acquired a new position in shares of Kodiak Gas Services during the 2nd quarter worth approximately $309,000. Institutional investors and hedge funds own 24.95% of the company's stock.

Insider Buying and Selling at Kodiak Gas Services

In other news, CEO Robert McKee sold 6,008 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $62.39, for a total value of $374,839.12. Following the sale, the chief executive officer directly owned 298,589 shares of the company's stock, valued at approximately $18,628,967.71. The trade was a 1.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO William Lenamon sold 1,000 shares of the company's stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $63.21, for a total transaction of $63,210.00. Following the completion of the transaction, the chief operating officer owned 85,294 shares in the company, valued at approximately $5,391,433.74. This represents a 1.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 20,336 shares of company stock valued at $1,218,437 over the last 90 days. 0.64% of the stock is owned by insiders.

Kodiak Gas Services Trading Down 2.4%

Shares of Kodiak Gas Services stock opened at $54.54 on Thursday. The stock has a 50 day moving average of $58.79 and a 200 day moving average of $63.78. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.15 and a current ratio of 1.45. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 64.93 and a beta of 1.01. Kodiak Gas Services, Inc. has a fifty-two week low of $32.55 and a fifty-two week high of $77.68.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.55 EPS for the quarter, missing analysts' consensus estimates of $0.67 by ($0.12). The business had revenue of $391.12 million during the quarter, compared to analysts' expectations of $386.30 million. Kodiak Gas Services had a net margin of 5.77% and a return on equity of 11.92%. Kodiak Gas Services's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.43 EPS. As a group, research analysts predict that Kodiak Gas Services, Inc. will post 2.46 earnings per share for the current year.

Kodiak Gas Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Monday, August 17th were given a $0.49 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.96 dividend on an annualized basis and a yield of 3.6%. Kodiak Gas Services's dividend payout ratio is presently 233.33%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on KGS. Weiss Ratings restated a "hold (c+)" rating on shares of Kodiak Gas Services in a research report on Wednesday, August 26th. Jefferies Financial Group restated a "buy" rating and issued a $65.00 target price on shares of Kodiak Gas Services in a report on Thursday. Stifel Nicolaus lifted their price target on Kodiak Gas Services from $90.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Royal Bank Of Canada boosted their price target on shares of Kodiak Gas Services from $84.00 to $88.00 and gave the company an "outperform" rating in a research report on Thursday, August 13th. Finally, Barclays dropped their price objective on shares of Kodiak Gas Services from $72.00 to $67.00 and set an "overweight" rating for the company in a report on Monday. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $77.89.

Kodiak Gas Services Company Profile

Kodiak Gas Services, Inc NYSE: KGS provides contract natural gas compression services in the United States. The company helps oil and gas producers and midstream operators move natural gas through gathering systems, processing facilities, pipelines and other infrastructure by supplying and operating compression equipment.

Its services include the design, installation, commissioning, operation, maintenance and relocation of natural gas compression systems. Kodiak owns and manages a fleet of compressors that can be deployed for a range of applications, including gathering, processing, storage and transmission.

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