Point72 Asset Management L.P. Buys Shares of 221,391 Kodiak Gas Services, Inc. (NYSE:KGS)

Point72 Asset Management L.P. bought a new position in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 221,391 shares of the company's stock, valued at approximately $9,039,000. Point72 Asset Management L.P. owned about 0.25% of Kodiak Gas Services at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. FMR LLC lifted its stake in shares of 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 purchasing an additional 2,452,492 shares during the period. Encompass Capital Advisors LLC purchased a new position in Kodiak Gas Services in the fourth quarter valued at $66,122,000. Vanguard Group Inc. raised its position in shares of Kodiak Gas Services by 52.3% in the fourth quarter. Vanguard Group Inc. now owns 2,659,015 shares of the company's stock worth $108,568,000 after acquiring an additional 913,104 shares during the period. Merewether Investment Management LP boosted its stake in shares of Kodiak Gas Services by 259.4% during the 4th quarter. Merewether Investment Management LP now owns 934,499 shares of the company's stock worth $38,156,000 after acquiring an additional 674,499 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Kodiak Gas Services by 1,154.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 681,641 shares of the company's stock worth $27,832,000 after acquiring an additional 627,320 shares in the last quarter. Hedge funds and other institutional investors own 24.95% of the company's stock.

Kodiak Gas Services Price Performance

KGS stock traded up $0.11 during midday trading on Thursday, reaching $34.32. The stock had a trading volume of 681,265 shares, compared to its average volume of 838,243. Kodiak Gas Services, Inc. has a 52-week low of $24.84 and a 52-week high of $50.43. 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 company's fifty day simple moving average is $35.12 and its 200 day simple moving average is $39.39. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 118.33 and a beta of 1.59.

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

Kodiak Gas Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.25%. This is a positive change from Kodiak Gas Services's previous quarterly dividend of $0.41. The ex-dividend date was Monday, May 5th. Kodiak Gas Services's dividend payout ratio (DPR) is 339.62%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Raymond James restated an "outperform" rating on shares of Kodiak Gas Services in a research note on Friday, March 7th. Barclays reduced their target price on Kodiak Gas Services from $41.00 to $36.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Truist Financial increased their target price on Kodiak Gas Services from $45.00 to $47.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. Mizuho cut their price target on shares of Kodiak Gas Services from $46.00 to $45.00 and set an "outperform" rating for the company in a report on Tuesday. Finally, Royal Bank of Canada set a $45.00 price objective on shares of Kodiak Gas Services and gave the stock an "outperform" rating in a research report on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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.