Teacher Retirement System of Texas Makes New Investment 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) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 530,411 shares of the company's stock, valued at approximately $19,784,000. Teacher Retirement System of Texas owned approximately 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 the business. FMR LLC lifted its stake in Kodiak Gas Services by 50.2% during the fourth quarter. FMR LLC now owns 7,342,296 shares of the company's stock valued at $299,786,000 after buying an additional 2,452,492 shares in the last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of Kodiak Gas Services during the fourth quarter valued at approximately $66,122,000. Zimmer Partners LP raised its holdings in shares of Kodiak Gas Services by 88.1% during the fourth quarter. Zimmer Partners LP now owns 3,347,700 shares of the company's stock valued at $136,687,000 after acquiring an additional 1,567,849 shares during the period. Vanguard Group Inc. raised its holdings in shares of Kodiak Gas Services by 52.3% during the fourth quarter. Vanguard Group Inc. now owns 2,659,015 shares of the company's stock valued at $108,568,000 after acquiring an additional 913,104 shares during the period. Finally, Merewether Investment Management LP raised its holdings in shares of Kodiak Gas Services by 259.4% during the fourth quarter. Merewether Investment Management LP now owns 934,499 shares of the company's stock valued at $38,156,000 after acquiring an additional 674,499 shares during the period. 24.95% of the stock is currently owned by institutional investors.

Kodiak Gas Services Stock Down 3.0%

KGS traded down $1.02 on Monday, reaching $32.79. 729,014 shares of the company traded hands, compared to its average volume of 915,569. The stock's 50 day moving average price is $34.83 and its 200-day moving average price is $38.43. 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 cap of $2.91 billion, a price-to-earnings ratio of 61.87 and a beta of 1.35. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.17 and a quick ratio of 0.87.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.42 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 firm had revenue of $329.64 million for the quarter, compared to the consensus estimate of $328.45 million. During the same period in the previous year, the firm posted $0.39 earnings per share. The firm's revenue was up 52.9% on a year-over-year basis. On average, sell-side analysts expect that Kodiak Gas Services, Inc. will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services Increases Dividend

The firm also recently announced 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 5.49%. This is an increase from Kodiak Gas Services's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Monday, May 5th. Kodiak Gas Services's payout ratio is currently 339.62%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on KGS shares. Mizuho cut their price target on shares of Kodiak Gas Services from $46.00 to $45.00 and set an "outperform" rating on the stock in a report on Tuesday, May 20th. Barclays cut their price target on shares of Kodiak Gas Services from $41.00 to $36.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. restated a "buy" rating and set a $43.00 price target (up previously from $42.00) on shares of Kodiak Gas Services in a report on Monday, June 23rd. Truist Financial boosted their price target on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. Finally, Royal Bank Of Canada set a $45.00 price target on shares of Kodiak Gas Services and gave the company an "outperform" rating in a report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, Kodiak Gas Services has a consensus rating of "Moderate Buy" and an average target price of $40.64.

Kodiak Gas Services Company Profile

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.