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

Jennison Associates LLC decreased its stake in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 62.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,464 shares of the company's stock after selling 129,479 shares during the period. Jennison Associates LLC owned 0.09% of Kodiak Gas Services worth $2,927,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Comerica Bank lifted its position in shares of Kodiak Gas Services by 710.1% in the fourth quarter. Comerica Bank now owns 721 shares of the company's stock worth $29,000 after purchasing an additional 632 shares in the last quarter. Sterling Capital Management LLC grew its position in shares of Kodiak Gas Services by 1,322.6% in the 4th 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 period. State of Wyoming acquired a new stake in shares of Kodiak Gas Services in the 4th quarter valued at approximately $57,000. Amalgamated Bank increased its position in Kodiak Gas Services by 40.0% during the 1st quarter. Amalgamated Bank now owns 1,554 shares of the company's stock worth $58,000 after buying an additional 444 shares during the period. Finally, KBC Group NV bought a new position in shares of Kodiak Gas Services in the first quarter worth $116,000. Hedge funds and other institutional investors own 24.95% of the company's stock.

Wall Street Analyst Weigh In

KGS has been the topic of a number of research reports. Mizuho decreased their price objective on Kodiak Gas Services from $46.00 to $45.00 and set an "outperform" rating on the stock in a report on Tuesday, May 20th. JPMorgan Chase & Co. reaffirmed a "buy" rating and issued a $43.00 price target (up previously from $42.00) on shares of Kodiak Gas Services in a report on Monday, June 23rd. Finally, Barclays dropped their target price on Kodiak Gas Services from $41.00 to $36.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, Kodiak Gas Services has an average rating of "Moderate Buy" and a consensus target price of $40.64.

Kodiak Gas Services Stock Down 2.4%

NYSE KGS opened at $31.53 on Tuesday. The stock has a 50 day moving average price of $34.36 and a 200-day moving average price of $37.89. The company has a market capitalization of $2.80 billion, a P/E ratio of 59.48 and a beta of 1.35. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.87 and a current ratio of 1.17. 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 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 analyst estimates of $328.45 million. During the same quarter in the prior year, the firm posted $0.39 EPS. The business's quarterly revenue was up 52.9% compared to the same quarter last year. As a group, equities analysts predict that Kodiak Gas Services, Inc. will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a $0.45 dividend. This is an increase from Kodiak Gas Services's previous quarterly dividend of $0.41. This represents a $1.80 annualized dividend and a dividend yield of 5.71%. The ex-dividend date of this dividend was Monday, May 5th. Kodiak Gas Services's dividend payout ratio is currently 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.

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