Kodiak Gas Services, Inc. $KGS Holdings Reduced by PDT Partners LLC

Key Points

• PDT Partners LLC has reduced its stake in Kodiak Gas Services, Inc. by 46.2%, leaving it with 18,176 shares worth approximately $678,000.
• Kodiak Gas Services recently authorized a $50 million stock repurchase plan, indicating the board's belief that the shares are undervalued.
• The company also announced a quarterly dividend of $0.45 per share, reflecting a 5.1% yield, despite a high payout ratio of 200.00%.

PDT Partners LLC decreased its holdings in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 46.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,176 shares of the company's stock after selling 15,624 shares during the period. PDT Partners LLC's holdings in Kodiak Gas Services were worth $678,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in KGS. Raymond James Financial Inc. acquired a new stake in Kodiak Gas Services in the fourth quarter valued at about $276,000. Stifel Financial Corp increased its holdings in Kodiak Gas Services by 6.9% in the fourth quarter. Stifel Financial Corp now owns 15,655 shares of the company's stock valued at $639,000 after buying an additional 1,007 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Kodiak Gas Services in the fourth quarter valued at about $454,000. Voya Investment Management LLC purchased a new position in shares of Kodiak Gas Services during the 4th quarter worth approximately $300,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Kodiak Gas Services by 32.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 17,900 shares of the company's stock worth $731,000 after purchasing an additional 4,376 shares in the last quarter. Institutional investors and hedge funds own 24.95% of the company's stock.

Kodiak Gas Services Stock Up 0.5%

Shares of KGS traded up $0.16 during midday trading on Tuesday, hitting $33.89. The company had a trading volume of 1,186,727 shares, compared to its average volume of 1,254,407. The company has a quick ratio of 0.78, a current ratio of 1.10 and a debt-to-equity ratio of 1.89. Kodiak Gas Services, Inc. has a 52 week low of $25.46 and a 52 week high of $50.43. The company's 50 day moving average price is $33.52 and its 200 day moving average price is $34.87. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 37.66 and a beta of 1.34.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $322.84 million for the quarter, compared to analyst estimates of $335.10 million. Kodiak Gas Services had a net margin of 6.48% and a return on equity of 10.35%. Kodiak Gas Services's quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 earnings per share. On average, equities research analysts predict that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services announced that its board has authorized a stock repurchase program on Monday, August 11th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to buy up to 1.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Kodiak Gas Services Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Monday, August 4th. This represents a $1.80 annualized dividend and a yield of 5.3%. Kodiak Gas Services's dividend payout ratio is 200.00%.

Wall Street Analyst Weigh In

KGS has been the subject of a number of recent research reports. Royal Bank Of Canada raised their price objective on shares of Kodiak Gas Services from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 13th. Mizuho lifted their target price on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Barclays lifted 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 research note on Thursday, August 14th. Finally, JPMorgan Chase & Co. reaffirmed a "buy" rating and issued a $43.00 target price (up from $42.00) on shares of Kodiak Gas Services in a research note on Monday, June 23rd. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $41.30.

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.