114,941 Shares in Kodiak Gas Services, Inc. $KGS Purchased by Nuveen LLC

Key Points

• Nuveen LLC has invested approximately $4.29 million in Kodiak Gas Services by purchasing 114,941 shares, representing 0.13% ownership as per its recent SEC filing.
• Kodiak Gas Services reported a quarterly earnings per share of $0.49, beating the consensus estimate of $0.46, alongside a 4.2% year-over-year revenue increase.
• The company's board has authorized a $50 million stock repurchase plan, indicating confidence in the stock's valuation, while it also declared a quarterly dividend of $0.45 per share.

Nuveen LLC purchased a new position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 114,941 shares of the company's stock, valued at approximately $4,287,000. Nuveen LLC owned about 0.13% of Kodiak Gas Services at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KGS. Comerica Bank increased its holdings in 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 in the last quarter. State of Wyoming purchased a new stake in shares of Kodiak Gas Services during the 4th quarter valued at about $57,000. Amalgamated Bank grew its stake in shares of Kodiak Gas Services by 40.0% in the first quarter. Amalgamated Bank now owns 1,554 shares of the company's stock worth $58,000 after acquiring an additional 444 shares during the period. Covestor Ltd grew its stake in shares of Kodiak Gas Services by 33,700.0% in the first quarter. Covestor Ltd now owns 1,690 shares of the company's stock worth $63,000 after acquiring an additional 1,685 shares during the period. Finally, Montag A & Associates Inc. raised its holdings in shares of Kodiak Gas Services by 71.5% during the first quarter. Montag A & Associates Inc. now owns 2,062 shares of the company's stock valued at $77,000 after purchasing an additional 860 shares during the last quarter. 24.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KGS. Barclays raised their target price on shares of Kodiak Gas Services from $36.00 to $37.00 and gave the stock an "equal weight" rating in a report on Thursday, August 14th. JPMorgan Chase & Co. restated a "buy" rating and issued a $43.00 price target (up from $42.00) on shares of Kodiak Gas Services in a research note on Monday, June 23rd. Mizuho lifted their price objective on Kodiak Gas Services from $45.00 to $47.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Royal Bank Of Canada increased their target price on Kodiak Gas Services from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Kodiak Gas Services has a consensus rating of "Moderate Buy" and an average target price of $41.30.

Kodiak Gas Services Price Performance

Shares of NYSE:KGS traded down $0.10 during trading on Monday, hitting $35.85. 716,224 shares of the company's stock were exchanged, compared to its average volume of 2,191,407. The business's 50-day simple moving average is $33.41 and its 200 day simple moving average is $35.22. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 39.83 and a beta of 1.34. Kodiak Gas Services, Inc. has a 52-week low of $25.21 and a 52-week high of $50.43. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.10 and a quick ratio of 0.78.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. Kodiak Gas Services had a return on equity of 10.35% and a net margin of 6.48%.The business had revenue of $322.84 million during the quarter, compared to the consensus estimate of $335.10 million. During the same period in the prior year, the company posted $0.06 EPS. The firm's revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, equities analysts predict that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 4th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Monday, August 4th. Kodiak Gas Services's dividend payout ratio (DPR) is presently 200.00%.

Kodiak Gas Services announced that its Board of Directors has initiated a share repurchase plan on Monday, August 11th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

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.