Bank of New York Mellon Corp Grows Position in Kodiak Gas Services, Inc. (NYSE:KGS)

Bank of New York Mellon Corp lifted its position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 13.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 443,666 shares of the company's stock after buying an additional 52,522 shares during the period. Bank of New York Mellon Corp owned approximately 0.50% of Kodiak Gas Services worth $16,549,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of KGS. FMR LLC boosted its stake in shares of Kodiak Gas Services by 50.2% during the 4th quarter. FMR LLC now owns 7,342,296 shares of the company's stock worth $299,786,000 after acquiring an additional 2,452,492 shares in the last quarter. Encompass Capital Advisors LLC acquired a new stake in Kodiak Gas Services during the 4th quarter worth $66,122,000. Zimmer Partners LP increased its position in shares of Kodiak Gas Services by 88.1% in the fourth quarter. Zimmer Partners LP now owns 3,347,700 shares of the company's stock valued at $136,687,000 after acquiring an additional 1,567,849 shares during the last quarter. Vanguard Group Inc. grew its holdings in Kodiak Gas Services by 52.3% during the fourth quarter. Vanguard Group Inc. now owns 2,659,015 shares of the company's stock worth $108,568,000 after purchasing an additional 913,104 shares during the period. Finally, Merewether Investment Management LP boosted its holdings in shares of Kodiak Gas Services by 259.4% during the fourth quarter. Merewether Investment Management LP now owns 934,499 shares of the company's stock worth $38,156,000 after acquiring an additional 674,499 shares during the period. Institutional investors own 24.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KGS. Barclays reduced their price objective on shares of Kodiak Gas Services from $41.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Mizuho cut their price target on shares of 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. Finally, JPMorgan Chase & Co. reissued a "buy" rating and set a $43.00 price objective (up previously from $42.00) on shares of Kodiak Gas Services in a research report on Monday, June 23rd. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $40.64.

Kodiak Gas Services Stock Performance

Kodiak Gas Services stock traded up $0.65 during midday trading on Friday, reaching $32.30. 879,716 shares of the company traded hands, compared to its average volume of 945,615. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 60.94 and a beta of 1.35. The business has a 50 day moving average of $34.36 and a two-hundred day moving average of $37.92. Kodiak Gas Services, Inc. has a 12 month low of $24.84 and a 12 month high of $50.43. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.17 and a quick ratio of 0.87.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.03. The business had revenue of $329.64 million for the quarter, compared to the consensus estimate of $328.45 million. Kodiak Gas Services had a net margin of 3.93% and a return on equity of 8.49%. The company's quarterly revenue was up 52.9% on a year-over-year basis. During the same period last year, the firm earned $0.39 earnings per share. As a group, research analysts predict that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current year.

Kodiak Gas Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.57%. This is a boost from Kodiak Gas Services's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Monday, May 5th. Kodiak Gas Services's dividend payout ratio (DPR) is presently 339.62%.

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.