Kodiak Gas Services, Inc. (NYSE:KGS) Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its holdings in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 62.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 78,464 shares of the company's stock after selling 129,479 shares during the quarter. Jennison Associates LLC owned about 0.09% of Kodiak Gas Services worth $2,927,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. FMR LLC lifted its stake in 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 position in Kodiak Gas Services during the 4th quarter worth about $66,122,000. Zimmer Partners LP lifted its stake in Kodiak Gas Services by 88.1% during the 4th quarter. Zimmer Partners LP now owns 3,347,700 shares of the company's stock worth $136,687,000 after acquiring an additional 1,567,849 shares in the last quarter. Vanguard Group Inc. lifted its stake in Kodiak Gas Services by 52.3% during the 4th quarter. Vanguard Group Inc. now owns 2,659,015 shares of the company's stock worth $108,568,000 after acquiring an additional 913,104 shares in the last quarter. Finally, Merewether Investment Management LP lifted its stake in Kodiak Gas Services by 259.4% during the 4th 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 in the last quarter. 24.95% of the stock is currently owned by hedge funds and other institutional investors.

Kodiak Gas Services Price Performance

Shares of NYSE KGS traded down $0.53 during trading on Friday, reaching $31.28. The company had a trading volume of 830,724 shares, compared to its average volume of 1,195,132. Kodiak Gas Services, Inc. has a twelve month low of $24.83 and a twelve month high of $50.43. The stock has a market capitalization of $2.77 billion, a PE ratio of 59.01 and a beta of 1.35. The stock has a 50-day moving average price of $33.91 and a two-hundred day moving average price of $37.56. The company has a current ratio of 1.17, a quick ratio of 0.87 and a debt-to-equity ratio of 1.91.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 EPS 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 for the quarter, compared to analysts' expectations of $328.45 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. The company's revenue was up 52.9% compared to the same quarter last year. As a group, sell-side analysts predict that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current year.

Kodiak Gas Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 4th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.76%. The ex-dividend date is Monday, August 4th. Kodiak Gas Services's dividend payout ratio (DPR) is 339.62%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on KGS shares. JPMorgan Chase & Co. reissued a "buy" rating and set a $43.00 target price (up previously from $42.00) on shares of Kodiak Gas Services in a research note on Monday, June 23rd. Mizuho cut their target price on 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, Barclays cut their target price on Kodiak Gas Services from $41.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. One equities 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, Kodiak Gas Services currently has a consensus rating of "Moderate Buy" and an average target price of $40.64.

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.