NFJ Investment Group LLC Makes New $2.75 Million Investment in Kodiak Gas Services, Inc. $KGS

Key Points

• NFJ Investment Group initiated a new position in Kodiak Gas Services, buying 73,403 shares worth about $2.75 million in the fourth quarter.
• Several analysts turned more positive on the stock, with firms including Goldman Sachs, Citigroup, and Wells Fargo raising price targets or assigning bullish ratings; the consensus remains Moderate Buy with an average target of $75.22.
• Kodiak Gas Services reported better-than-expected quarterly results, with EPS of $0.59 versus $0.54 expected and revenue of $345.76 million, while also paying a quarterly dividend of $0.49 per share.

NFJ Investment Group LLC bought a new position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 73,403 shares of the company's stock, valued at approximately $2,745,000. NFJ Investment Group LLC owned about 0.08% of Kodiak Gas Services at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Aurora Investment Counsel raised its stake in shares of Kodiak Gas Services by 0.6% in the fourth quarter. Aurora Investment Counsel now owns 67,192 shares of the company's stock worth $2,513,000 after acquiring an additional 397 shares during the last quarter. Barclays PLC raised its stake in shares of Kodiak Gas Services by 20.1% in the fourth quarter. Barclays PLC now owns 139,682 shares of the company's stock worth $5,224,000 after acquiring an additional 23,330 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of Kodiak Gas Services in the fourth quarter worth about $216,000. FORA Capital LLC acquired a new stake in shares of Kodiak Gas Services during the 4th quarter worth approximately $513,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Kodiak Gas Services by 12.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 37,410 shares of the company's stock worth $1,399,000 after buying an additional 4,097 shares during the period. 24.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

KGS has been the subject of several analyst reports. The Goldman Sachs Group lifted their price target on shares of Kodiak Gas Services from $69.00 to $88.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Stifel Nicolaus set a $84.00 price target on shares of Kodiak Gas Services in a research report on Tuesday, May 12th. Citigroup lifted their price target on shares of Kodiak Gas Services from $63.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Wells Fargo & Company initiated coverage on shares of Kodiak Gas Services in a research report on Wednesday, May 27th. They set an "overweight" rating and a $93.00 price target for the company. Finally, Zacks Research upgraded shares of Kodiak Gas Services from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 6th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $75.22.

Kodiak Gas Services Stock Down 0.2%

Shares of NYSE:KGS opened at $68.95 on Monday. Kodiak Gas Services, Inc. has a one year low of $30.06 and a one year high of $77.68. The company has a 50 day moving average of $67.34 and a 200-day moving average of $52.75. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.28 and a quick ratio of 0.99. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 93.18, a P/E/G ratio of 0.97 and a beta of 0.94.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.05. The firm had revenue of $345.76 million during the quarter, compared to analysts' expectations of $340.23 million. Kodiak Gas Services had a net margin of 5.13% and a return on equity of 13.12%. The business's revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 earnings per share. On average, sell-side analysts forecast that Kodiak Gas Services, Inc. will post 2.35 earnings per share for the current year.

Kodiak Gas Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Monday, May 18th were issued a dividend of $0.49 per share. The ex-dividend date was Monday, May 18th. This represents a $1.96 dividend on an annualized basis and a yield of 2.8%. Kodiak Gas Services's payout ratio is currently 264.86%.

Insider Activity at Kodiak Gas Services

In related news, CAO Ewan William Hamilton sold 5,797 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $56.18, for a total transaction of $325,675.46. Following the completion of the transaction, the chief accounting officer owned 34,346 shares in the company, valued at approximately $1,929,558.28. The trade was a 14.44% 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, COO William Chad Lenamon sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $67.79, for a total transaction of $67,790.00. Following the transaction, the chief operating officer owned 90,918 shares of the company's stock, valued at approximately $6,163,331.22. This represents a 1.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 20,739 shares of company stock worth $1,170,453. 0.64% of the stock is currently owned by company insiders.

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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