Royce & Associates LP Sells 15,710 Shares of Kodiak Gas Services, Inc. (NYSE:KGS)

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 trimmed its position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 4.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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.

Other hedge funds have also modified their holdings of the company. Comerica Bank increased its stake in Kodiak Gas Services by 710.1% during the 4th 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 lifted its holdings in Kodiak Gas Services by 1,322.6% during 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 last quarter. State of Wyoming acquired a new stake in shares of Kodiak Gas Services during the fourth quarter worth $57,000. Amalgamated Bank lifted its holdings in shares of Kodiak Gas Services by 40.0% during the first quarter. Amalgamated Bank now owns 1,554 shares of the company's stock worth $58,000 after buying an additional 444 shares in the last quarter. Finally, Montag A & Associates Inc. raised its stake in Kodiak Gas Services by 71.5% in the first quarter. Montag A & Associates Inc. now owns 2,062 shares of the company's stock valued at $77,000 after purchasing an additional 860 shares in the last quarter. 24.95% of the stock is currently owned by institutional investors and hedge funds.

Kodiak Gas Services Stock Performance

Shares of KGS stock traded up $0.52 on Tuesday, hitting $32.16. 175,546 shares of the stock were exchanged, compared to its average volume of 1,084,865. Kodiak Gas Services, Inc. has a one year low of $24.83 and a one year high of $50.43. The firm's 50 day moving average is $33.83 and its two-hundred day moving average is $37.43. The company has a current ratio of 1.17, a quick ratio of 0.87 and a debt-to-equity ratio of 1.91. The firm has a market capitalization of $2.85 billion, a PE ratio of 60.67 and a beta of 1.35.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, beating 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 return on equity of 8.49% and a net margin of 3.93%. The company's revenue for the quarter was up 52.9% on a year-over-year basis. During the same quarter last year, the company posted $0.39 EPS. Sell-side analysts expect that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 4th will be issued a dividend of $0.45 per share. The ex-dividend date is Monday, August 4th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.60%. Kodiak Gas Services's dividend payout ratio is 339.62%.

Analyst Upgrades and Downgrades

KGS has been the topic of a number of recent analyst reports. 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 research report on Monday, June 23rd. Barclays cut their price target 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. Finally, Mizuho lowered 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. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Kodiak Gas Services presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.64.

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.