The Manufacturers Life Insurance Company Acquires Shares of 49,215 Kodiak Gas Services, Inc. $KGS

Key Points

• The Manufacturers Life Insurance Company acquired 49,215 Kodiak Gas Services shares worth approximately $3.7 million, while other institutional investors also increased or initiated positions. Institutional ownership currently stands at 24.95%.
• Wall Street sentiment remains positive, with 10 analysts rating KGS a Buy and two assigning a Hold; the consensus rating is “Moderate Buy” with a $78.89 price target.
• Kodiak reported 21.2% year-over-year revenue growth to $391.12 million, though quarterly EPS of $0.55 missed estimates. The company also pays a $0.49 quarterly dividend, representing a 3.3% annualized yield.

The Manufacturers Life Insurance Company bought a new position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 49,215 shares of the company's stock, valued at approximately $3,698,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KGS. Advisors Preferred LLC acquired a new position in shares of Kodiak Gas Services during the 2nd quarter valued at $1,986,000. Crown Advisors Management Inc. bought a new stake in Kodiak Gas Services during the second quarter worth approximately $4,508,000. Charles Schwab Investment Management Inc. lifted its position in shares of Kodiak Gas Services by 29.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 901,406 shares of the company's stock valued at $33,713,000 after acquiring an additional 203,809 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Kodiak Gas Services by 40.5% during the fourth quarter. HighTower Advisors LLC now owns 57,699 shares of the company's stock worth $2,158,000 after purchasing an additional 16,619 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Kodiak Gas Services by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,105,555 shares of the company's stock valued at $181,108,000 after purchasing an additional 135,998 shares during the period. 24.95% of the stock is currently owned by institutional investors.

Insider Activity at Kodiak Gas Services

In other news, COO William Chad Lenamon sold 1,000 shares of the company's stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $67.79, for a total value of $67,790.00. Following the sale, the chief operating officer directly owned 87,294 shares in the company, valued at approximately $5,917,660.26. This represents a 1.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Cory Anne Roclawski sold 4,169 shares of the business's stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $68.36, for a total value of $284,992.84. Following the completion of the sale, the executive vice president directly owned 24,662 shares in the company, valued at approximately $1,685,894.32. This represents a 14.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 19,531 shares of company stock valued at $1,296,158. Corporate insiders own 0.64% of the company's stock.

Wall Street Analyst Weigh In

KGS has been the subject of several research analyst reports. Citigroup upped their price target on shares of Kodiak Gas Services from $63.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, May 13th. Wells Fargo & Company assumed coverage on shares of Kodiak Gas Services in a report on Wednesday, May 27th. They set an "overweight" rating and a $93.00 price target on the stock. The Goldman Sachs Group lifted their price target on Kodiak Gas Services from $69.00 to $88.00 and gave the company a "buy" rating in a report on Friday, May 15th. Stifel Nicolaus upped their price objective on shares of Kodiak Gas Services from $90.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Finally, Royal Bank Of Canada upped their target price on Kodiak Gas Services from $84.00 to $88.00 and gave the stock an "outperform" rating in a research report on Thursday, August 13th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $78.89.

Kodiak Gas Services Stock Up 1.4%

NYSE KGS opened at $59.62 on Wednesday. Kodiak Gas Services, Inc. has a twelve month low of $32.55 and a twelve month high of $77.68. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.15 and a current ratio of 1.45. The stock has a market cap of $6.03 billion, a PE ratio of 70.98, a PEG ratio of 0.86 and a beta of 0.98. The firm has a 50-day simple moving average of $63.80 and a 200 day simple moving average of $63.15.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.55 EPS for the quarter, missing analysts' consensus estimates of $0.67 by ($0.12). The firm had revenue of $391.12 million during the quarter, compared to the consensus estimate of $386.30 million. Kodiak Gas Services had a return on equity of 11.92% and a net margin of 5.77%.Kodiak Gas Services's revenue was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.43 EPS. On average, research analysts forecast that Kodiak Gas Services, Inc. will post 2.44 EPS for the current year.

Kodiak Gas Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Monday, August 17th were paid a $0.49 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.96 dividend on an annualized basis and a yield of 3.3%. Kodiak Gas Services's payout ratio is presently 233.33%.

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. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings.

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