Pacer Advisors Inc. Has $1.96 Million Holdings in Kodiak Gas Services, Inc. (NYSE:KGS)

Key Points

• Pacer Advisors Inc. has increased its stake in Kodiak Gas Services by 37.3%, acquiring an additional 14,240 shares, bringing its total ownership to approximately $1.96 million.
• Kodiak Gas Services reported a quarterly earnings per share of $0.42, exceeding analysts' expectations, with revenue growth of 52.9% year-over-year.
• The company is set to pay a quarterly dividend of $0.45 on August 14, representing a 5.65% yield and a strong payout ratio of 339.62%.

Pacer Advisors Inc. raised its holdings in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 37.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 52,417 shares of the company's stock after buying an additional 14,240 shares during the period. Pacer Advisors Inc. owned 0.06% of Kodiak Gas Services worth $1,955,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC increased its stake in Kodiak Gas Services by 50.2% in the 4th quarter. FMR LLC now owns 7,342,296 shares of the company's stock valued at $299,786,000 after buying an additional 2,452,492 shares during the last quarter. Zimmer Partners LP increased its stake in Kodiak Gas Services by 88.1% in the 4th quarter. Zimmer Partners LP now owns 3,347,700 shares of the company's stock valued at $136,687,000 after buying an additional 1,567,849 shares during the last quarter. Invesco Ltd. increased its stake in Kodiak Gas Services by 1.1% in the 4th quarter. Invesco Ltd. now owns 2,942,782 shares of the company's stock valued at $120,154,000 after buying an additional 32,966 shares during the last quarter. Vanguard Group Inc. increased its stake in Kodiak Gas Services by 52.3% in the 4th quarter. Vanguard Group Inc. now owns 2,659,015 shares of the company's stock valued at $108,568,000 after buying an additional 913,104 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Kodiak Gas Services by 14.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,650,183 shares of the company's stock valued at $67,379,000 after buying an additional 202,050 shares during the last quarter. 24.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on KGS shares. Barclays lowered their price target on shares of 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. JPMorgan Chase & Co. restated a "buy" rating and set a $43.00 price objective (up from $42.00) on shares of Kodiak Gas Services in a research note on Monday, June 23rd. Finally, Mizuho lowered 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 research note on Tuesday, May 20th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $40.64.

Kodiak Gas Services Price Performance

NYSE KGS traded down $1.02 on Friday, hitting $31.31. 1,426,586 shares of the company's stock were exchanged, compared to its average volume of 1,033,374. The stock has a 50-day moving average of $33.61 and a 200-day moving average of $37.19. The company has a current ratio of 1.17, a quick ratio of 0.87 and a debt-to-equity ratio of 1.91. Kodiak Gas Services, Inc. has a 52 week low of $24.83 and a 52 week high of $50.43. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 59.08 and a beta of 1.33.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $329.64 million during the quarter, compared to analysts' expectations of $328.45 million. Kodiak Gas Services had a net margin of 3.93% and a return on equity of 8.49%. The firm's quarterly revenue was up 52.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 EPS. Analysts expect that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current year.

Kodiak Gas Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 4th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Monday, August 4th. Kodiak Gas Services's dividend payout ratio is currently 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.