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

Teacher Retirement System of Texas acquired a new position in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 530,411 shares of the company's stock, valued at approximately $19,784,000. Teacher Retirement System of Texas owned about 0.60% of Kodiak Gas Services at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Comerica Bank boosted its stake in Kodiak Gas Services by 710.1% in the fourth quarter. Comerica Bank now owns 721 shares of the company's stock valued at $29,000 after buying an additional 632 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of Kodiak Gas Services by 1,322.6% during the fourth quarter. Sterling Capital Management LLC now owns 754 shares of the company's stock valued at $31,000 after acquiring an additional 701 shares in the last quarter. State of Wyoming bought a new stake in shares of Kodiak Gas Services during the fourth quarter valued at approximately $57,000. Amalgamated Bank increased its holdings 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 valued at $58,000 after acquiring an additional 444 shares in the last quarter. Finally, KBC Group NV purchased a new stake in Kodiak Gas Services in the 1st quarter valued at $116,000. 24.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KGS. Truist Financial increased their price target 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. JPMorgan Chase & Co. reissued a "buy" rating and set a $43.00 price objective (up from $42.00) on shares of Kodiak Gas Services in a report on Monday, June 23rd. Barclays decreased their price objective on 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. Royal Bank Of Canada set a $45.00 target price on Kodiak Gas Services and gave the company an "outperform" rating in a research note on Tuesday, March 11th. Finally, Mizuho dropped their target price 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 equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Kodiak Gas Services presently has an average rating of "Moderate Buy" and a consensus price target of $40.64.

Kodiak Gas Services Price Performance

Shares of KGS stock traded down $1.14 during midday trading on Monday, reaching $32.67. 348,666 shares of the company traded hands, compared to its average volume of 914,102. The firm's 50 day simple moving average is $34.88 and its two-hundred day simple moving average is $38.48. Kodiak Gas Services, Inc. has a 1-year low of $24.84 and a 1-year high of $50.43. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.17 and a quick ratio of 0.87. The firm has a market cap of $2.90 billion, a PE ratio of 61.59 and a beta of 1.35.

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

Kodiak Gas Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a $0.45 dividend. This is a boost from Kodiak Gas Services's previous quarterly dividend of $0.41. This represents a $1.80 annualized dividend and a yield of 5.51%. The ex-dividend date of this dividend was Monday, May 5th. Kodiak Gas Services's payout ratio is presently 339.62%.

Kodiak Gas Services 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.