Trexquant Investment LP Purchases New Shares in Kodiak Gas Services, Inc. $KGS

Key Points

• Trexquant Investment LP has acquired a new stake in Kodiak Gas Services, purchasing 13,303 shares valued at approximately $496,000 during the first quarter.
• Kodiak Gas Services announced a share buyback plan worth $50 million, indicating confidence from the company's leadership regarding its stock value.
• The company reported a quarterly dividend of $0.45 per share, representing an annualized yield of 5.3%, with a payout ratio currently at 200%.

Trexquant Investment LP acquired a new stake in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 13,303 shares of the company's stock, valued at approximately $496,000.

Other institutional investors have also modified their holdings of the company. Zimmer Partners LP raised its holdings in Kodiak Gas Services by 88.1% in the 4th quarter. Zimmer Partners LP now owns 3,347,700 shares of the company's stock valued at $136,687,000 after buying an additional 1,567,849 shares during the period. Invesco Ltd. boosted its holdings in Kodiak Gas Services by 3.5% in the first quarter. Invesco Ltd. now owns 3,044,939 shares of the company's stock valued at $113,576,000 after purchasing an additional 102,157 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Kodiak Gas Services by 9.0% in the first quarter. Vanguard Group Inc. now owns 2,897,588 shares of the company's stock valued at $108,080,000 after purchasing an additional 238,573 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Kodiak Gas Services by 38.6% in the 1st quarter. American Century Companies Inc. now owns 1,302,080 shares of the company's stock valued at $48,568,000 after purchasing an additional 362,621 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of Kodiak Gas Services in the first quarter valued at approximately $40,648,000. Hedge funds and other institutional investors own 24.95% of the company's stock.

Kodiak Gas Services Stock Performance

Kodiak Gas Services stock opened at $33.81 on Tuesday. The stock has a market cap of $2.97 billion, a P/E ratio of 37.56 and a beta of 1.34. The company has a current ratio of 1.10, a quick ratio of 0.78 and a debt-to-equity ratio of 1.89. The stock has a 50 day moving average of $33.52 and a 200-day moving average of $34.87. Kodiak Gas Services, Inc. has a 52 week low of $25.21 and a 52 week high of $50.43.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. The company had revenue of $322.84 million during the quarter, compared to analysts' expectations of $335.10 million. Kodiak Gas Services had a return on equity of 10.35% and a net margin of 6.48%.The business's revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 EPS. On average, analysts expect that Kodiak Gas Services, Inc. will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services declared that its Board of Directors has approved a share buyback plan on Monday, August 11th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to purchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Kodiak Gas Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 4th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Monday, August 4th. Kodiak Gas Services's payout ratio is presently 200.00%.

Analysts Set New Price Targets

KGS has been the subject of several research analyst reports. Royal Bank Of Canada increased their price objective on Kodiak Gas Services from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. reissued 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. Barclays lifted their price target on Kodiak Gas Services from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 14th. Finally, Mizuho boosted their target price on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $41.30.

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.

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