TD Asset Management Inc Makes New Investment in Kodiak Gas Services, Inc. (NYSE:KGS)

Key Points

• TD Asset Management Inc has acquired a new investment of 18,842 shares in Kodiak Gas Services, valued at approximately $703,000, as reported in their recent SEC filing.
• Kodiak Gas Services announced a quarterly dividend of $0.45 per share, with an annualized yield of 5.7%, indicating a dividend payout ratio of 339.62%.
• In terms of stock performance, analysts have set a consensus price target of $40.64 for Kodiak Gas Services, with a majority rating the stock as a "Moderate Buy."

TD Asset Management Inc acquired a new position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 18,842 shares of the company's stock, valued at approximately $703,000.

A number of other institutional investors and hedge funds have also made changes to their positions in KGS. FMR LLC grew 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 worth $299,786,000 after buying an additional 2,452,492 shares in the last quarter. Encompass Capital Advisors LLC purchased a new position in shares of Kodiak Gas Services in the 4th quarter worth $66,122,000. Zimmer Partners LP lifted its holdings in shares of Kodiak Gas Services by 88.1% in the 4th quarter. Zimmer Partners LP now owns 3,347,700 shares of the company's stock worth $136,687,000 after acquiring an additional 1,567,849 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Kodiak Gas Services by 52.3% in the 4th 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 last quarter. Finally, Merewether Investment Management LP lifted its holdings in shares of Kodiak Gas Services by 259.4% in 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 during the last quarter. 24.95% of the stock is owned by hedge funds and other institutional investors.

Kodiak Gas Services Trading Up 1.3%

NYSE KGS opened at $31.70 on Tuesday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.87 and a current ratio of 1.17. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 59.82 and a beta of 1.33. The company's 50-day simple moving average is $33.55 and its two-hundred day simple moving average is $36.94. Kodiak Gas Services, Inc. has a one year low of $24.83 and a one year high of $50.43.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.03. The business 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 3.93% and a return on equity of 8.49%. The company's revenue for the quarter was up 52.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 EPS. Equities analysts forecast that Kodiak Gas Services, Inc. will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 4th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $1.80 dividend on an annualized basis and a yield of 5.7%. Kodiak Gas Services's dividend payout ratio (DPR) is 339.62%.

Analysts Set New Price Targets

KGS has been the subject of several analyst reports. Mizuho lowered their target price 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, May 20th. JPMorgan Chase & Co. restated a "buy" rating and issued a $43.00 target price (up previously from $42.00) on shares of Kodiak Gas Services in a report on Monday, June 23rd. Finally, Barclays decreased their price objective on shares of Kodiak Gas Services from $41.00 to $36.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $40.64.

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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