Invesco Ltd. Has $113.58 Million Stock Holdings in Kodiak Gas Services, Inc. $KGS

Key Points

• Invesco Ltd. increased its position in Kodiak Gas Services by 3.5%, holding approximately 3,044,939 shares valued at $113.58 million.
• Kodiak Gas Services reported a quarterly earnings per share (EPS) of $0.49, exceeding analyst estimates of $0.46, with revenue of $322.84 million.
• The company declared a quarterly dividend of $0.45 per share, with a significant annualized dividend yield of 5.2% and a payout ratio of 200%.

Invesco Ltd. raised its stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,044,939 shares of the company's stock after purchasing an additional 102,157 shares during the period. Invesco Ltd. owned 3.43% of Kodiak Gas Services worth $113,576,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Comerica Bank grew its holdings in Kodiak Gas Services by 710.1% during the fourth quarter. Comerica Bank now owns 721 shares of the company's stock valued at $29,000 after purchasing an additional 632 shares during the last quarter. Sterling Capital Management LLC grew its holdings in Kodiak Gas Services by 1,322.6% during the fourth 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. State of Wyoming acquired a new position in Kodiak Gas Services during the fourth quarter valued at approximately $57,000. Amalgamated Bank grew its holdings in Kodiak Gas Services by 40.0% during the first quarter. Amalgamated Bank now owns 1,554 shares of the company's stock valued at $58,000 after purchasing an additional 444 shares during the last quarter. Finally, Covestor Ltd grew its holdings in Kodiak Gas Services by 33,700.0% during the first quarter. Covestor Ltd now owns 1,690 shares of the company's stock valued at $63,000 after purchasing an additional 1,685 shares during the last quarter. Institutional investors and hedge funds own 24.95% of the company's stock.

Kodiak Gas Services Stock Performance

KGS traded down $0.8960 during trading on Thursday, reaching $35.9740. 2,007,481 shares of the company's stock were exchanged, compared to its average volume of 2,092,352. Kodiak Gas Services, Inc. has a fifty-two week low of $25.21 and a fifty-two week high of $50.43. The company has a quick ratio of 0.78, a current ratio of 1.10 and a debt-to-equity ratio of 1.89. The business has a 50 day moving average price of $33.24 and a 200 day moving average price of $35.87. The company has a market capitalization of $3.16 billion, a P/E ratio of 39.97 and a beta of 1.33.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the company earned $0.06 earnings per share. The business's revenue was up 4.2% compared to the same quarter last year. As a group, analysts predict that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current fiscal year.

Kodiak Gas Services announced that its board has authorized a share buyback program on Monday, August 11th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 1.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Kodiak Gas Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders 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 dividend on an annualized basis and a yield of 5.0%. Kodiak Gas Services's payout ratio is currently 200.00%.

Wall Street Analyst Weigh In

KGS has been the topic of several analyst reports. Barclays increased their price target on Kodiak Gas Services from $36.00 to $37.00 and gave the company an "equal weight" rating in a report on Thursday, August 14th. Royal Bank Of Canada raised their price objective on shares of Kodiak Gas Services from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. restated a "buy" rating and issued a $43.00 price objective (up previously from $42.00) on shares of Kodiak Gas Services in a research note on Monday, June 23rd. Finally, Mizuho lowered their price objective on shares of Kodiak Gas Services from $46.00 to $45.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 20th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $41.10.

About Kodiak Gas Services

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.