Legal & General Group Plc Takes Position in Kodiak Gas Services, Inc. $KGS

Key Points

• Legal & General Group Plc acquired 237,450 Kodiak Gas Services shares worth approximately $17.84 million, giving it a 0.23% stake. Other major institutions, including BlackRock, Vanguard and Invesco, also increased or initiated positions; institutional ownership stands at 24.95%.
• Analysts maintain a generally positive outlook, with 10 Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $78.89. Goldman Sachs and RBC raised their targets to $88.
• Kodiak reported quarterly revenue of $391.12 million, up 21.2% year over year and above estimates, but earnings per share of $0.55 missed expectations. The company pays a quarterly dividend of $0.49, or $1.96 annualized, yielding about 3.4%.

Legal & General Group Plc purchased a new position in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 237,450 shares of the company's stock, valued at approximately $17,840,000. Legal & General Group Plc owned approximately 0.23% of Kodiak Gas Services at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. bought a new position in Kodiak Gas Services during the 2nd quarter valued at $1,142,139,000. Invesco Ltd. increased its position in shares of Kodiak Gas Services by 20.4% in the 4th quarter. Invesco Ltd. now owns 7,593,274 shares of the company's stock worth $283,988,000 after purchasing an additional 1,287,485 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Kodiak Gas Services by 33.8% in the 4th quarter. Vanguard Group Inc. now owns 6,170,360 shares of the company's stock valued at $230,771,000 after purchasing an additional 1,559,172 shares in the last quarter. Zimmer Partners LP lifted its position in shares of Kodiak Gas Services by 45.7% during the fourth quarter. Zimmer Partners LP now owns 4,271,553 shares of the company's stock worth $159,756,000 after purchasing an additional 1,339,849 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Kodiak Gas Services by 31.8% during the fourth quarter. State Street Corp now owns 3,340,008 shares of the company's stock worth $124,916,000 after purchasing an additional 806,191 shares during the last quarter. Institutional investors own 24.95% of the company's stock.

Insider Transactions at Kodiak Gas Services

In other Kodiak Gas Services news, CEO Robert Michael Mckee sold 6,008 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $62.39, for a total value of $374,839.12. Following the sale, the chief executive officer owned 298,589 shares in the company, valued at approximately $18,628,967.71. This trade represents a 1.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pedro R. Buhigas sold 4,625 shares of the firm's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $67.78, for a total transaction of $313,482.50. Following the completion of the sale, the insider owned 38,454 shares in the company, valued at $2,606,412.12. The trade was a 10.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,531 shares of company stock worth $1,296,158 in the last quarter. 0.64% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. The Goldman Sachs Group boosted their price objective on Kodiak Gas Services from $69.00 to $88.00 and gave the company a "buy" rating in a report on Friday, May 15th. Zacks Research upgraded Kodiak Gas Services from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 6th. Royal Bank Of Canada boosted their price target on Kodiak Gas Services from $84.00 to $88.00 and gave the company an "outperform" rating in a report on Thursday, August 13th. Jefferies Financial Group dropped their price target on Kodiak Gas Services from $79.00 to $69.00 and set a "buy" rating on the stock in a research report on Monday, August 10th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Kodiak Gas Services in a research note on Wednesday. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $78.89.

Kodiak Gas Services Trading Down 0.1%

NYSE:KGS opened at $57.64 on Monday. The firm has a market capitalization of $5.83 billion, a P/E ratio of 68.62, a P/E/G ratio of 0.84 and a beta of 0.98. The business has a 50 day simple moving average of $64.28 and a 200 day simple moving average of $63.04. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.45 and a quick ratio of 1.15. Kodiak Gas Services, Inc. has a 12-month low of $32.55 and a 12-month high of $77.68.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.12). Kodiak Gas Services had a return on equity of 11.92% and a net margin of 5.77%.The company had revenue of $391.12 million during the quarter, compared to analyst estimates of $386.30 million. During the same period in the prior year, the business earned $0.43 earnings per share. Kodiak Gas Services's quarterly revenue was up 21.2% on a year-over-year basis. Equities research analysts predict that Kodiak Gas Services, Inc. will post 2.44 EPS for the current year.

Kodiak Gas Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Monday, August 17th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Monday, August 17th. Kodiak Gas Services's payout ratio is presently 233.33%.

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. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings.

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