Teacher Retirement System of Texas Acquires New Position in Kodiak Gas Services, Inc. (NYSE:KGS)

Teacher Retirement System of Texas purchased a new position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 530,411 shares of the company's stock, valued at approximately $19,784,000. Teacher Retirement System of Texas owned 0.60% of Kodiak Gas Services at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KGS. Amalgamated Bank increased its position in shares of Kodiak Gas Services by 40.0% during the first 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. United Advisor Group LLC increased its holdings in Kodiak Gas Services by 4.4% during the 4th quarter. United Advisor Group LLC now owns 12,281 shares of the company's stock worth $501,000 after purchasing an additional 519 shares in the last quarter. Comerica Bank increased its holdings in Kodiak Gas Services by 710.1% during the 4th quarter. Comerica Bank now owns 721 shares of the company's stock worth $29,000 after purchasing an additional 632 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of Kodiak Gas Services by 1,322.6% in the fourth quarter. Sterling Capital Management LLC now owns 754 shares of the company's stock worth $31,000 after purchasing an additional 701 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Kodiak Gas Services by 6.9% in the fourth quarter. Stifel Financial Corp now owns 15,655 shares of the company's stock valued at $639,000 after purchasing an additional 1,007 shares in the last quarter. 24.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on KGS shares. JPMorgan Chase & Co. reiterated a "buy" rating and issued a $43.00 target price (up previously from $42.00) on shares of Kodiak Gas Services in a research note on Monday, June 23rd. Raymond James Financial reiterated an "outperform" rating on shares of Kodiak Gas Services in a research note on Friday, March 7th. Truist Financial boosted their target price on Kodiak Gas Services from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Tuesday, March 11th. Barclays reduced their target price on 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. Finally, 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 report on Tuesday, May 20th. One investment 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 currently has a consensus rating of "Moderate Buy" and an average target price of $40.64.

Kodiak Gas Services Stock Performance

Kodiak Gas Services stock traded down $0.21 during midday trading on Friday, hitting $33.81. The stock had a trading volume of 530,725 shares, compared to its average volume of 913,741. Kodiak Gas Services, Inc. has a 52-week low of $24.84 and a 52-week high of $50.43. The company has a market capitalization of $3.00 billion, a PE ratio of 63.79 and a beta of 1.35. The firm's fifty day moving average is $34.88 and its two-hundred day moving average is $38.49. The company has a current ratio of 1.17, a quick ratio of 0.87 and a debt-to-equity ratio of 1.91.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.03. Kodiak Gas Services had a net margin of 3.93% and a return on equity of 8.49%. The business had revenue of $329.64 million during the quarter, compared to analyst estimates of $328.45 million. During the same period last year, the firm posted $0.39 EPS. The company's revenue was up 52.9% on a year-over-year basis. On average, research analysts forecast that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.80 annualized dividend and a dividend yield of 5.32%. This is an increase from Kodiak Gas Services's previous quarterly dividend of $0.41. Kodiak Gas Services's payout ratio is currently 339.62%.

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.