Bank of New York Mellon Corp Buys 52,522 Shares of Kodiak Gas Services, Inc. (NYSE:KGS)

Bank of New York Mellon Corp raised its holdings in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 13.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 443,666 shares of the company's stock after purchasing an additional 52,522 shares during the period. Bank of New York Mellon Corp owned about 0.50% of Kodiak Gas Services worth $16,549,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in Kodiak Gas Services by 13.5% during the first quarter. Principal Financial Group Inc. now owns 27,246 shares of the company's stock valued at $1,016,000 after buying an additional 3,233 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Kodiak Gas Services in the first quarter worth approximately $19,784,000. Amalgamated Bank lifted its position in shares of Kodiak Gas Services by 40.0% in the first quarter. Amalgamated Bank now owns 1,554 shares of the company's stock worth $58,000 after purchasing an additional 444 shares in the last quarter. KBC Group NV purchased a new stake in shares of Kodiak Gas Services in the first quarter worth approximately $116,000. Finally, HWG Holdings LP lifted its position in shares of Kodiak Gas Services by 72.1% in the first quarter. HWG Holdings LP now owns 148,122 shares of the company's stock worth $5,525,000 after purchasing an additional 62,056 shares in the last quarter. Institutional investors own 24.95% of the company's stock.

Wall Street Analysts Forecast Growth

KGS has been the topic of several research analyst reports. 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. Mizuho cut their price target on Kodiak Gas Services from $46.00 to $45.00 and set an "outperform" rating for the company in a report on Tuesday, May 20th. Finally, Barclays cut their price target on Kodiak Gas Services from $41.00 to $36.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.64.

Kodiak Gas Services Price Performance

NYSE KGS traded down $0.34 during trading on Tuesday, reaching $31.15. The company's stock had a trading volume of 1,140,131 shares, compared to its average volume of 945,193. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.17 and a quick ratio of 0.87. The stock has a market capitalization of $2.76 billion, a PE ratio of 58.76 and a beta of 1.35. The firm has a fifty day moving average of $34.16 and a 200 day moving average of $37.76. Kodiak Gas Services, Inc. has a one year low of $24.84 and a one year high of $50.43.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last released its quarterly earnings data 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. Kodiak Gas Services had a return on equity of 8.49% and a net margin of 3.93%. The business had revenue of $329.64 million during the quarter, compared to analysts' expectations of $328.45 million. During the same quarter last year, the business posted $0.39 EPS. The business's revenue was up 52.9% on a year-over-year basis. Analysts expect that Kodiak Gas Services, Inc. will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a $0.45 dividend. This is an increase from Kodiak Gas Services's previous quarterly dividend of $0.41. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.78%. The ex-dividend date was Monday, May 5th. Kodiak Gas Services's dividend payout ratio (DPR) is 339.62%.

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.