Kodiak Gas Services, Inc. (NYSE:KGS) Shares Sold by Royce & Associates LP

Key Points

• Royce & Associates LP reduced its stake in Kodiak Gas Services by 4.6%, maintaining approximately 0.37% ownership worth $12.12 million after selling 15,710 shares in the first quarter.
• Kodai Gas Services has announced a quarterly dividend of $0.45 per share, set to be paid on August 14, providing an annualized yield of 5.76%.
• The company's recent earnings report showed earnings per share (EPS) of $0.42, surpassing analysts' expectations, and a 52.9% increase in quarterly revenue year-over-year.

Royce & Associates LP decreased its holdings in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 4.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 324,840 shares of the company's stock after selling 15,710 shares during the period. Royce & Associates LP owned approximately 0.37% of Kodiak Gas Services worth $12,117,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. KLP Kapitalforvaltning AS raised its holdings in Kodiak Gas Services by 63.2% in the 1st quarter. KLP Kapitalforvaltning AS now owns 9,300 shares of the company's stock valued at $347,000 after acquiring an additional 3,600 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Kodiak Gas Services in the 1st quarter valued at approximately $1,266,000. Kayne Anderson Capital Advisors LP grew its stake in shares of Kodiak Gas Services by 1,069.1% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 509,073 shares of the company's stock valued at $18,988,000 after buying an additional 465,528 shares during the period. Montag A & Associates Inc. grew its stake in shares of Kodiak Gas Services by 71.5% in the 1st quarter. Montag A & Associates Inc. now owns 2,062 shares of the company's stock valued at $77,000 after buying an additional 860 shares during the period. Finally, Kestra Private Wealth Services LLC grew its stake in shares of Kodiak Gas Services by 4.2% in the 1st quarter. Kestra Private Wealth Services LLC now owns 19,414 shares of the company's stock valued at $724,000 after buying an additional 780 shares during the period. Institutional investors and hedge funds own 24.95% of the company's stock.

Kodiak Gas Services Stock Down 1.7%

Shares of NYSE:KGS traded down $0.53 during trading on Friday, hitting $31.28. The company's stock had a trading volume of 830,724 shares, compared to its average volume of 1,195,132. The business 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 market capitalization of $2.77 billion, a PE ratio of 23.51 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 fifty-two week low of $24.83 and a fifty-two week high of $50.43.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.03. The firm had revenue of $329.64 million during 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 revenue was up 52.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.39 earnings per share. As a group, research analysts expect that Kodiak Gas Services, Inc. will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services Dividend Announcement

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

Analyst Ratings Changes

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

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.