Renaissance Technologies LLC Grows Stake in Kodiak Gas Services, Inc. $KGS

Renaissance Technologies LLC raised its holdings in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 45.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 838,622 shares of the company's stock after buying an additional 263,700 shares during the quarter. Renaissance Technologies LLC owned about 0.94% of Kodiak Gas Services worth $48,908,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its stake in Kodiak Gas Services by 52.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,062 shares of the company's stock worth $40,000 after acquiring an additional 364 shares during the period. EverSource Wealth Advisors LLC increased its position in Kodiak Gas Services by 1,501.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company's stock valued at $42,000 after purchasing an additional 1,156 shares during the period. State of Wyoming increased its position in Kodiak Gas Services by 201.7% during the 4th quarter. State of Wyoming now owns 1,219 shares of the company's stock valued at $46,000 after purchasing an additional 815 shares during the period. GAMMA Investing LLC raised its holdings in Kodiak Gas Services by 80.3% in the 4th quarter. GAMMA Investing LLC now owns 1,248 shares of the company's stock worth $47,000 after purchasing an additional 556 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Kodiak Gas Services by 80.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,449 shares of the company's stock worth $54,000 after purchasing an additional 646 shares in the last quarter. 24.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KGS has been the topic of a number of research reports. Citigroup lifted their target price on shares of Kodiak Gas Services from $63.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, May 13th. Jefferies Financial Group assumed coverage on shares of Kodiak Gas Services in a research note on Thursday, June 4th. They issued a "buy" rating and a $79.00 price target for the company. Stifel Nicolaus raised their price objective on shares of Kodiak Gas Services from $84.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Royal Bank Of Canada raised their price objective on shares of Kodiak Gas Services from $64.00 to $84.00 and gave the stock an "outperform" rating in a report on Monday, May 18th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Kodiak Gas Services in a research report on Friday, May 29th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $79.50.

Insider Buying and Selling at Kodiak Gas Services

In other Kodiak Gas Services news, EVP Cory Anne Roclawski sold 4,169 shares of the firm's stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $68.36, for a total transaction of $284,992.84. Following the completion of the transaction, the executive vice president owned 24,662 shares of the company's stock, valued at approximately $1,685,894.32. This trade represents a 14.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ewan William Hamilton sold 2,729 shares of Kodiak Gas Services stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $68.62, for a total transaction of $187,263.98. Following the transaction, the chief accounting officer owned 31,617 shares of the company's stock, valued at $2,169,558.54. The trade was a 7.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,523 shares of company stock worth $921,319 in the last ninety days. 0.64% of the stock is owned by company insiders.

Kodiak Gas Services Stock Performance

Shares of KGS stock opened at $57.69 on Tuesday. Kodiak Gas Services, Inc. has a 12 month low of $30.06 and a 12 month high of $77.68. The stock has a market cap of $5.12 billion, a PE ratio of 77.96, a price-to-earnings-growth ratio of 0.93 and a beta of 0.89. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 2.38. The company's fifty day moving average price is $68.69 and its 200-day moving average price is $59.71.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.05. The company had revenue of $345.76 million during the quarter, compared to analyst estimates of $340.23 million. Kodiak Gas Services had a net margin of 5.13% and a return on equity of 13.12%. Kodiak Gas Services's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $0.33 EPS. On average, equities analysts expect that Kodiak Gas Services, Inc. will post 2.27 EPS for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Monday, May 18th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Monday, May 18th. Kodiak Gas Services's dividend payout ratio is 264.86%.

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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