TD Asset Management Inc Grows Stock Holdings in Kodiak Gas Services, Inc. $KGS

Key Points

• TD Asset Management Inc increased its holdings in Kodiak Gas Services by 42.9%, acquiring an additional 8,074 shares, bringing its total to 26,916 shares worth approximately $922,000.
• Several research analysts upgraded Kodiak Gas Services stock, with Mizuho and Royal Bank of Canada raising their price targets to $47.00 and $43.00, respectively, indicating a generally positive outlook.
• Kodiak Gas Services has authorized a $50 million share buyback program, reflecting the board's belief that their shares are currently undervalued.

TD Asset Management Inc lifted its position in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 42.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,916 shares of the company's stock after purchasing an additional 8,074 shares during the period. TD Asset Management Inc's holdings in Kodiak Gas Services were worth $922,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Amalgamated Bank raised its stake in Kodiak Gas Services by 40.0% during the 1st quarter. Amalgamated Bank now owns 1,554 shares of the company's stock worth $58,000 after acquiring an additional 444 shares in the last quarter. KBC Group NV acquired a new stake in Kodiak Gas Services during the 1st quarter worth $116,000. Bank of New York Mellon Corp raised its stake in Kodiak Gas Services by 13.4% during the 1st quarter. Bank of New York Mellon Corp now owns 443,666 shares of the company's stock worth $16,549,000 after acquiring an additional 52,522 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in Kodiak Gas Services during the 1st quarter worth $19,784,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Kodiak Gas Services during the 1st quarter worth $1,266,000. 24.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on KGS shares. Mizuho lifted their price target 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. Zacks Research upgraded shares of Kodiak Gas Services from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 14th. Barclays cut their price target on shares of Kodiak Gas Services from $37.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 14th. Royal Bank Of Canada lifted their price target 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. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Kodiak Gas Services in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Kodiak Gas Services has an average rating of "Buy" and a consensus price target of $43.25.

Kodiak Gas Services Price Performance

Shares of KGS stock opened at $35.39 on Thursday. The company has a market capitalization of $3.07 billion, a PE ratio of 39.32 and a beta of 1.32. The firm has a fifty day simple moving average of $34.97 and a 200-day simple moving average of $34.17. The company has a current ratio of 1.10, a quick ratio of 0.78 and a debt-to-equity ratio of 1.89. Kodiak Gas Services, Inc. has a twelve month low of $29.25 and a twelve month high of $50.43.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.03. Kodiak Gas Services had a net margin of 6.48% and a return on equity of 10.35%. The firm had revenue of $322.84 million for the quarter, compared to the consensus estimate of $335.10 million. During the same period in the prior year, the firm posted $0.06 EPS. The firm's revenue was up 4.2% compared to the same quarter last year. Equities research analysts anticipate that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current fiscal year.

Kodiak Gas Services announced that its Board of Directors has authorized a share buyback program on Monday, August 11th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 1.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its shares are undervalued.

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.

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