Kodiak Gas Services, Inc. $KGS Stock Purchased by Conestoga Capital Advisors LLC

Key Points

• Conestoga Capital Advisors increased its Kodiak Gas Services stake by 29.2% in the third quarter, adding 188,945 shares to hold 835,090 shares valued at about $44.2 million.
• Kodiak reported quarterly EPS of $0.55, below the $0.67 consensus estimate, while revenue of $391.1 million exceeded expectations and grew 21.2% year over year.
• Analysts hold a “Moderate Buy” consensus rating and an average price target of $79.18; the stock was reported down 11.5%.

Conestoga Capital Advisors LLC boosted its stake in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 29.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 835,090 shares of the company's stock after purchasing an additional 188,945 shares during the period. Kodiak Gas Services comprises approximately 1.3% of Conestoga Capital Advisors LLC's portfolio, making the stock its 29th largest position. Conestoga Capital Advisors LLC owned 0.82% of Kodiak Gas Services worth $44,235,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Advisors Preferred LLC purchased a new position in Kodiak Gas Services during the 2nd quarter valued at about $1,986,000. Hsbc Holdings PLC acquired a new position in Kodiak Gas Services in the 2nd quarter valued at about $2,486,000. Crown Advisors Management Inc. acquired a new position in Kodiak Gas Services in the 2nd quarter valued at about $4,508,000. Dimensional Fund Advisors LP increased its stake in Kodiak Gas Services by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,105,555 shares of the company's stock worth $181,108,000 after purchasing an additional 135,998 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Kodiak Gas Services during the second quarter worth about $882,000. 24.95% of the stock is currently owned by institutional investors and hedge funds.

Kodiak Gas Services Trading Down 11.5%

KGS opened at $41.21 on Thursday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.15 and a current ratio of 1.45. Kodiak Gas Services, Inc. has a one year low of $32.55 and a one year high of $77.68. The company has a market cap of $4.18 billion, a P/E ratio of 49.06 and a beta of 1.07. The business's 50-day simple moving average is $53.66 and its 200-day simple moving average is $59.07.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.12). Kodiak Gas Services had a return on equity of 11.92% and a net margin of 5.77%. The business had revenue of $391.12 million for the quarter, compared to analysts' expectations of $386.30 million. During the same quarter in the previous year, the firm earned $0.43 EPS. Kodiak Gas Services's revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, equities research analysts expect that Kodiak Gas Services, Inc. will post 2.43 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Robert McKee sold 6,008 shares of the company's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $62.39, for a total value of $374,839.12. Following the completion of the sale, the chief executive officer directly owned 298,589 shares of the company's stock, valued at $18,628,967.71. This represents a 1.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO William Lenamon sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $53.25, for a total value of $53,250.00. Following the transaction, the chief operating officer owned 84,294 shares in the company, valued at $4,488,655.50. This represents a 1.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 23,002 shares of company stock valued at $1,325,334. 0.64% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on KGS shares. Zacks Research lowered shares of Kodiak Gas Services from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 27th. Piper Sandler began coverage on Kodiak Gas Services in a research note on Tuesday, July 28th. They issued an "overweight" rating and a $78.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on Kodiak Gas Services from $79.00 to $78.00 and set an "overweight" rating for the company in a research note on Thursday, October 8th. UBS Group restated a "buy" rating on shares of Kodiak Gas Services in a report on Friday, October 16th. Finally, Stifel Nicolaus increased their price target on Kodiak Gas Services from $90.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $79.18.

About Kodiak Gas Services

Kodiak Gas Services, Inc NYSE: KGS provides contract compression and related infrastructure services to the North American oil and gas industry. The company helps producers and midstream operators move natural gas through gathering systems, processing facilities and pipelines by supplying compression equipment and operating it under long-term service arrangements.

Its services include the design, installation, operation and maintenance of natural gas compression systems. Kodiak owns and manages a fleet of compression units that can be deployed across a range of applications, including natural gas gathering and processing.

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