Federated Hermes Inc. Lowers Position in Kodiak Gas Services, Inc. (NYSE:KGS)

Key Points

• Federated Hermes Inc. significantly reduced its stake in Kodiak Gas Services by 93.2% during the first quarter, now holding only 11,362 shares worth $424,000.
• Kodiak Gas Services recently announced a quarterly dividend of $0.45 per share, which reflects an annualized yield of 5.6% and a payout ratio of 339.62%.
• Analysts have mixed opinions on Kodiak Gas Services, with target prices ranging from $36.00 to $46.00, and the stock receiving a consensus rating of "Moderate Buy."

Federated Hermes Inc. cut its stake in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 93.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,362 shares of the company's stock after selling 156,675 shares during the period. Federated Hermes Inc.'s holdings in Kodiak Gas Services were worth $424,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of KGS. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Kodiak Gas Services by 63.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,895 shares of the company's stock worth $556,000 after acquiring an additional 5,780 shares during the period. TD Asset Management Inc acquired a new stake in Kodiak Gas Services in the 1st quarter valued at $703,000. Pacer Advisors Inc. boosted its stake in Kodiak Gas Services by 37.3% in the 1st quarter. Pacer Advisors Inc. now owns 52,417 shares of the company's stock valued at $1,955,000 after buying an additional 14,240 shares in the last quarter. KLP Kapitalforvaltning AS boosted its stake in Kodiak Gas Services by 63.2% in the first quarter. KLP Kapitalforvaltning AS now owns 9,300 shares of the company's stock worth $347,000 after purchasing an additional 3,600 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Kodiak Gas Services in the first quarter worth $1,266,000. 24.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

KGS has been the subject of several recent analyst reports. Royal Bank Of Canada upped their target price on shares of Kodiak Gas Services from $42.00 to $43.00 and gave the company an "outperform" rating in a research note on Wednesday. Mizuho cut their price objective on Kodiak Gas Services from $46.00 to $45.00 and set an "outperform" rating for the company in a research report on Tuesday, May 20th. JPMorgan Chase & Co. reissued a "buy" rating and set a $43.00 price target (up from $42.00) on shares of Kodiak Gas Services in a report on Monday, June 23rd. Finally, Barclays lowered their price objective on Kodiak Gas Services from $41.00 to $36.00 and set an "equal weight" rating on the stock in a research note 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. According to data from MarketBeat.com, Kodiak Gas Services currently has an average rating of "Moderate Buy" and an average target price of $40.45.

Kodiak Gas Services Stock Performance

Shares of NYSE KGS traded down $0.34 during midday trading on Wednesday, reaching $34.35. The company had a trading volume of 517,183 shares, compared to its average volume of 1,206,806. The company has a current ratio of 1.10, a quick ratio of 0.87 and a debt-to-equity ratio of 1.89. The business's 50-day simple moving average is $33.18 and its 200 day simple moving average is $36.36. Kodiak Gas Services, Inc. has a 1 year low of $25.21 and a 1 year high of $50.43. The stock has a market cap of $3.01 billion, a P/E ratio of 38.21 and a beta of 1.33.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03. Kodiak Gas Services had a net margin of 6.48% and a return on equity of 10.35%. The business had revenue of $322.84 million for the quarter, compared to analyst estimates of $335.10 million. During the same quarter last year, the business earned $0.06 earnings per share. The company's revenue for the quarter was up 4.2% compared to the same quarter last year. On average, analysts forecast that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current fiscal year.

Kodiak Gas Services announced that its board has approved a stock buyback program on Monday, August 11th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 1.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.

Kodiak Gas Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 4th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Monday, August 4th. Kodiak Gas Services's dividend payout ratio (DPR) is 200.00%.

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.