Ameriprise Financial Inc. Acquires 69,747 Shares of Kodiak Gas Services, Inc. (NYSE:KGS)

Ameriprise Financial Inc. raised its holdings in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 57.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 190,871 shares of the company's stock after purchasing an additional 69,747 shares during the period. Ameriprise Financial Inc. owned approximately 0.22% of Kodiak Gas Services worth $7,793,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in KGS. Comerica Bank boosted its stake in Kodiak Gas Services by 710.1% during the 4th quarter. Comerica Bank now owns 721 shares of the company's stock valued at $29,000 after purchasing an additional 632 shares during the last quarter. Sterling Capital Management LLC boosted its stake 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. Amalgamated Bank boosted its stake in Kodiak Gas Services by 112.6% during the 4th quarter. Amalgamated Bank now owns 1,110 shares of the company's stock valued at $45,000 after purchasing an additional 588 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in Kodiak Gas Services during the 4th quarter valued at $49,000. Finally, Summit Investment Advisors Inc. boosted its stake in Kodiak Gas Services by 72.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,406 shares of the company's stock valued at $139,000 after purchasing an additional 1,431 shares during the last quarter. 24.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KGS has been the topic of a number of recent research reports. Mizuho decreased their target price 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. Royal Bank of Canada set a $45.00 target price on Kodiak Gas Services and gave the stock an "outperform" rating in a report on Tuesday, March 11th. Truist Financial raised their target price on Kodiak Gas Services from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Barclays decreased 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, Raymond James reissued an "outperform" rating on shares of Kodiak Gas Services in a report on Friday, March 7th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Kodiak Gas Services presently has a consensus rating of "Moderate Buy" and an average target price of $40.55.

Kodiak Gas Services Price Performance

Shares of KGS stock traded up $0.38 during trading hours on Tuesday, hitting $35.00. The stock had a trading volume of 811,056 shares, compared to its average volume of 843,764. Kodiak Gas Services, Inc. has a one year low of $24.84 and a one year high of $50.43. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.27 and a quick ratio of 0.93. The stock's 50-day moving average price is $34.84 and its two-hundred day moving average price is $39.46. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 120.69 and a beta of 1.59.

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 7.91% and a net margin of 2.23%. The company had revenue of $329.64 million during the quarter, compared to analyst estimates of $328.45 million. During the same quarter last year, the business posted $0.39 earnings per share. The firm's revenue was up 52.9% on a year-over-year basis. Equities analysts forecast that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a dividend of $0.45 per share. This is a boost from Kodiak Gas Services's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.14%. Kodiak Gas Services's dividend payout ratio is currently 339.62%.

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.