Sourcerock Group LLC Purchases New Position in Kodiak Gas Services, Inc. (NYSE:KGS)

Sourcerock Group LLC purchased a new stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 182,500 shares of the company's stock, valued at approximately $7,451,000. Sourcerock Group LLC owned about 0.21% of Kodiak Gas Services as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of KGS. Two Sigma Advisers LP grew its holdings in Kodiak Gas Services by 65.1% in the fourth quarter. Two Sigma Advisers LP now owns 999,000 shares of the company's stock worth $40,789,000 after purchasing an additional 393,900 shares during the last quarter. Two Sigma Investments LP raised its position in shares of Kodiak Gas Services by 18.3% in the 4th quarter. Two Sigma Investments LP now owns 880,569 shares of the company's stock valued at $35,954,000 after purchasing an additional 136,193 shares during the last quarter. State of Wyoming purchased a new position in shares of Kodiak Gas Services in the 4th quarter valued at approximately $57,000. Seven Grand Managers LLC raised its position in shares of Kodiak Gas Services by 42.9% in the 4th quarter. Seven Grand Managers LLC now owns 200,000 shares of the company's stock valued at $8,166,000 after purchasing an additional 60,000 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Kodiak Gas Services in the 4th quarter valued at approximately $9,039,000. 24.95% of the stock is owned by hedge funds and other institutional investors.

Kodiak Gas Services Stock Performance

Kodiak Gas Services stock traded up $0.35 during mid-day trading on Friday, hitting $34.69. The company had a trading volume of 640,883 shares, compared to its average volume of 842,161. The company has a current ratio of 1.27, a quick ratio of 0.93 and a debt-to-equity ratio of 1.86. Kodiak Gas Services, Inc. has a 12-month low of $24.84 and a 12-month high of $50.43. The company's fifty day moving average is $34.99 and its 200-day moving average is $39.43. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 119.61 and a beta of 1.59.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.39 by $0.03. Kodiak Gas Services had a return on equity of 7.91% and a net margin of 2.23%. The business had revenue of $329.64 million for the quarter, compared to analyst estimates of $328.45 million. During the same quarter in the prior year, the firm posted $0.39 EPS. The business's quarterly revenue was up 52.9% compared to the same quarter last year. Equities research analysts predict that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.19%. The ex-dividend date of this dividend was Monday, May 5th. This is a positive change from Kodiak Gas Services's previous quarterly dividend of $0.41. Kodiak Gas Services's dividend payout ratio is currently 339.62%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KGS. Royal Bank of Canada set a $45.00 price target on Kodiak Gas Services and gave the company an "outperform" rating in a research note on Tuesday, March 11th. Truist Financial boosted their price target on Kodiak Gas Services from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. Mizuho dropped their price target on Kodiak Gas Services from $46.00 to $45.00 and set an "outperform" rating on the stock in a research note on Tuesday. Raymond James reiterated an "outperform" rating on shares of Kodiak Gas Services in a research note on Friday, March 7th. Finally, Barclays dropped their price target on 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. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $40.55.

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.