Manatuck Hill Partners LLC Buys Shares of 20,000 Kodiak Gas Services, Inc. $KGS

Key Points

• Manatuck Hill Partners established a new position in Kodiak Gas Services by purchasing 20,000 shares valued at approximately $1.5 million. Institutional investors and hedge funds now own 24.95% of the company.
• Analysts remain generally positive, with 10 Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $78.89.
• Although quarterly revenue rose 21.2% year over year to $391.1 million, Kodiak missed its EPS estimate. The company declared a $0.49 quarterly dividend, representing a 3.3% yield, while insiders sold $1.3 million of shares during the last quarter.

Manatuck Hill Partners LLC bought a new position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 20,000 shares of the company's stock, valued at approximately $1,503,000.

Several other institutional investors have also made changes to their positions in KGS. Harbor Investment Advisory LLC acquired a new position in Kodiak Gas Services in the second quarter worth approximately $76,000. Allworth Financial LP bought a new stake in Kodiak Gas Services in the second quarter worth approximately $80,000. State of Wyoming increased its stake in shares of Kodiak Gas Services by 201.7% during the 4th quarter. State of Wyoming now owns 1,219 shares of the company's stock worth $46,000 after purchasing an additional 815 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Kodiak Gas Services by 1,501.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company's stock valued at $42,000 after purchasing an additional 1,156 shares in the last quarter. Finally, Hilltop National Bank acquired a new stake in shares of Kodiak Gas Services in the 2nd quarter valued at $102,000. 24.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Cory Anne Roclawski sold 4,169 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $68.36, for a total transaction of $284,992.84. Following the completion of the sale, the executive vice president owned 24,662 shares in the company, valued at $1,685,894.32. This represents a 14.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Pedro R. Buhigas sold 4,625 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $67.78, for a total value of $313,482.50. Following the sale, the insider owned 38,454 shares of the company's stock, valued at approximately $2,606,412.12. The trade was a 10.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 19,531 shares of company stock valued at $1,296,158 in the last quarter. Insiders own 0.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on KGS shares. Stifel Nicolaus upped their price objective on shares of Kodiak Gas Services from $90.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Weiss Ratings restated a "hold (c+)" rating on shares of Kodiak Gas Services in a report on Friday, May 29th. Piper Sandler initiated coverage on Kodiak Gas Services in a research report on Tuesday, July 28th. They issued an "overweight" rating and a $78.00 price target for the company. Jefferies Financial Group decreased their price target on Kodiak Gas Services from $79.00 to $69.00 and set a "buy" rating for the company in a research note on Monday, August 10th. Finally, Royal Bank Of Canada increased their price objective on Kodiak Gas Services from $84.00 to $88.00 and gave the company an "outperform" rating in a report on Thursday, August 13th. 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.com, Kodiak Gas Services has an average rating of "Moderate Buy" and an average price target of $78.89.

Kodiak Gas Services Price Performance

NYSE KGS opened at $58.95 on Wednesday. The company has a current ratio of 1.45, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28. The company has a fifty day simple moving average of $64.81 and a 200 day simple moving average of $62.83. The company has a market cap of $5.96 billion, a P/E ratio of 70.18, a P/E/G ratio of 0.86 and a beta of 0.97. Kodiak Gas Services, Inc. has a 1 year low of $32.55 and a 1 year high of $77.68.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.12). The firm had revenue of $391.12 million during the quarter, compared to the consensus estimate of $386.30 million. Kodiak Gas Services had a return on equity of 11.92% and a net margin of 5.77%.The business's revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.43 EPS. On average, sell-side analysts predict that Kodiak Gas Services, Inc. will post 2.46 EPS for the current year.

Kodiak Gas Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Monday, August 17th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, August 17th. Kodiak Gas Services's dividend payout ratio (DPR) is currently 233.33%.

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. 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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