Millennium Management LLC Purchases 198,187 Shares of Kodiak Gas Services, Inc. (NYSE:KGS)

Millennium Management LLC boosted its stake in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 93.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 409,631 shares of the company's stock after purchasing an additional 198,187 shares during the period. Millennium Management LLC owned about 0.47% of Kodiak Gas Services worth $16,725,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Victory Capital Management Inc. increased its stake in Kodiak Gas Services by 155.8% in the 4th quarter. Victory Capital Management Inc. now owns 262,329 shares of the company's stock worth $10,711,000 after purchasing an additional 159,772 shares during the period. Bailard Inc. purchased a new position in Kodiak Gas Services in the 4th quarter worth approximately $363,000. Kestra Private Wealth Services LLC increased its stake in Kodiak Gas Services by 57.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 18,634 shares of the company's stock worth $761,000 after purchasing an additional 6,818 shares during the period. SG Americas Securities LLC increased its stake in Kodiak Gas Services by 305.7% in the 4th quarter. SG Americas Securities LLC now owns 17,515 shares of the company's stock worth $715,000 after purchasing an additional 13,198 shares during the period. Finally, Swiss National Bank increased its stake in Kodiak Gas Services by 16.4% in the 4th quarter. Swiss National Bank now owns 57,500 shares of the company's stock worth $2,348,000 after purchasing an additional 8,100 shares during the period. 24.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KGS has been the topic of a number of analyst reports. Truist Financial lifted their price target on Kodiak Gas Services from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Tuesday, March 11th. Royal Bank of Canada set a $45.00 price target on Kodiak Gas Services and gave the stock an "outperform" rating in a research note on Tuesday, March 11th. Barclays reduced their target price 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. Mizuho reduced their target price on Kodiak Gas Services from $46.00 to $45.00 and set an "outperform" rating on the stock in a research note on Tuesday. Finally, Raymond James reissued an "outperform" rating on shares of Kodiak Gas Services in a research note on Friday, March 7th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.55.

Kodiak Gas Services Price Performance

Shares of KGS stock opened at $34.24 on Thursday. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 118.06 and a beta of 1.59. The business's fifty day moving average is $35.12 and its 200 day moving average is $39.39. Kodiak Gas Services, Inc. has a twelve month low of $24.84 and a twelve month high of $50.43. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 1.86.

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 for the quarter, topping the consensus estimate of $0.39 by $0.03. The company had revenue of $329.64 million for the quarter, compared to analysts' expectations of $328.45 million. Kodiak Gas Services had a return on equity of 7.91% and a net margin of 2.23%. The firm's revenue for the quarter was up 52.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 earnings per share. Research analysts expect that Kodiak Gas Services, Inc. will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.26%. This is a boost from Kodiak Gas Services's previous quarterly dividend of $0.41. The ex-dividend date was Monday, May 5th. Kodiak Gas Services's dividend payout ratio is presently 339.62%.

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.

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