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

Millennium Management LLC lifted its position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 93.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 409,631 shares of the company's stock after acquiring an additional 198,187 shares during the quarter. Millennium Management LLC owned approximately 0.47% of Kodiak Gas Services worth $16,725,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KGS. Comerica Bank boosted its holdings in shares of Kodiak Gas Services by 710.1% in the 4th quarter. Comerica Bank now owns 721 shares of the company's stock worth $29,000 after buying an additional 632 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Kodiak Gas Services by 1,322.6% in the 4th quarter. Sterling Capital Management LLC now owns 754 shares of the company's stock worth $31,000 after buying an additional 701 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Kodiak Gas Services by 112.6% in the 4th quarter. Amalgamated Bank now owns 1,110 shares of the company's stock worth $45,000 after buying an additional 588 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Kodiak Gas Services in the 4th quarter worth about $49,000. Finally, Summit Investment Advisors Inc. boosted its holdings in shares of Kodiak Gas Services by 72.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,406 shares of the company's stock worth $139,000 after buying an additional 1,431 shares during the last quarter. 24.95% of the stock is owned by hedge funds and other institutional investors.

Kodiak Gas Services Price Performance

Shares of Kodiak Gas Services stock traded up $0.38 on Tuesday, reaching $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 1 year low of $24.84 and a 1 year high of $50.43. The company has a market cap of $3.10 billion, a P/E ratio of 120.69 and a beta of 1.59. The company has a current ratio of 1.27, a quick ratio of 0.93 and a debt-to-equity ratio of 1.86. The business's 50 day moving average is $34.84 and its two-hundred day moving average is $39.46.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.03. Kodiak Gas Services had a net margin of 2.23% and a return on equity of 7.91%. The firm had revenue of $329.64 million for the quarter, compared to the consensus estimate of $328.45 million. During the same period in the prior year, the firm posted $0.39 earnings per share. The company's revenue for the quarter was up 52.9% on a year-over-year basis. As a group, research analysts anticipate that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.14%. 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. Kodiak Gas Services's dividend payout ratio is 339.62%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Raymond James reaffirmed an "outperform" rating on shares of Kodiak Gas Services in a report on Friday, March 7th. Mizuho dropped their price objective on shares of 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 price objective on shares of Kodiak Gas Services and gave the company an "outperform" rating in a report on Tuesday, March 11th. Truist Financial upped their price objective on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. Finally, Barclays dropped their price objective on shares of 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. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Kodiak Gas Services presently has an average rating of "Moderate Buy" and a consensus target price of $40.55.

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.