Riverwater Partners LLC Makes New Investment in Kodiak Gas Services, Inc. $KGS

Key Points

• Riverwater Partners opened a new position in Kodiak Gas Services, buying 33,416 shares valued at about $1.25 million in the fourth quarter. Several other institutional investors also increased their stakes, and institutions now own 24.95% of the company.
• Kodiak Gas Services reported better-than-expected quarterly results, posting EPS of $0.59 versus the $0.54 estimate and revenue of $345.76 million, up 4.9% year over year. Analysts currently expect the company to earn 2.35 EPS for the full year.
• The stock has been active recently: KGS was up 1.2% to $67.27, and the company paid a quarterly dividend of $0.49 per share for a 2.9% annualized yield. Wall Street remains constructive overall, with a Moderate Buy consensus and a $75.22 price target.

Riverwater Partners LLC bought a new position in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 33,416 shares of the company's stock, valued at approximately $1,250,000.

A number of other large investors have also recently added to or reduced their stakes in KGS. Swiss National Bank lifted its holdings in shares of Kodiak Gas Services by 23.6% during the fourth quarter. Swiss National Bank now owns 168,900 shares of the company's stock worth $6,317,000 after buying an additional 32,200 shares during the last quarter. Nuveen LLC lifted its holdings in shares of Kodiak Gas Services by 13.6% during the fourth quarter. Nuveen LLC now owns 157,545 shares of the company's stock worth $5,892,000 after buying an additional 18,895 shares during the last quarter. Xponance LLC acquired a new position in shares of Kodiak Gas Services during the fourth quarter worth approximately $253,000. Empowered Funds LLC acquired a new position in shares of Kodiak Gas Services during the fourth quarter worth approximately $1,187,000. Finally, Illinois Municipal Retirement Fund lifted its holdings in shares of Kodiak Gas Services by 69.5% during the fourth quarter. Illinois Municipal Retirement Fund now owns 38,044 shares of the company's stock worth $1,423,000 after buying an additional 15,596 shares during the last quarter. Institutional investors own 24.95% of the company's stock.

Kodiak Gas Services Stock Up 1.2%

KGS opened at $67.27 on Friday. Kodiak Gas Services, Inc. has a fifty-two week low of $30.06 and a fifty-two week high of $77.68. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.28 and a quick ratio of 0.99. The firm's fifty day moving average price is $67.12 and its two-hundred day moving average price is $52.50. The company has a market capitalization of $5.97 billion, a P/E ratio of 90.91, a P/E/G ratio of 0.93 and a beta of 0.94.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.05. Kodiak Gas Services had a net margin of 5.13% and a return on equity of 13.12%. The firm had revenue of $345.76 million for the quarter, compared to the consensus estimate of $340.23 million. During the same quarter in the previous year, the company earned $0.33 earnings per share. The business's revenue was up 4.9% compared to the same quarter last year. On average, analysts anticipate that Kodiak Gas Services, Inc. will post 2.35 EPS for the current year.

Kodiak Gas Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Monday, May 18th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.9%. The ex-dividend date was Monday, May 18th. Kodiak Gas Services's dividend payout ratio is currently 264.86%.

Insider Buying and Selling

In other Kodiak Gas Services news, COO William Chad Lenamon sold 1,000 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $67.79, for a total transaction of $67,790.00. Following the completion of the transaction, the chief operating officer directly owned 90,918 shares in the company, valued at $6,163,331.22. This represents a 1.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Cory Anne Roclawski sold 10,852 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $54.41, for a total value of $590,457.32. Following the transaction, the executive vice president owned 31,405 shares of the company's stock, valued at $1,708,746.05. This represents a 25.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 33,682 shares of company stock valued at $1,876,438. 0.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Stifel Nicolaus set a $84.00 price target on Kodiak Gas Services in a report on Tuesday, May 12th. Zacks Research upgraded Kodiak Gas Services from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 6th. Citigroup upped their price target on Kodiak Gas Services from $63.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, May 13th. The Goldman Sachs Group upped their price target on Kodiak Gas Services from $69.00 to $88.00 and gave the stock a "buy" rating in a report on Friday, May 15th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Kodiak Gas Services in a report on Friday, May 29th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Kodiak Gas Services presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.22.

About Kodiak Gas Services

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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