Versor Investments LP purchased a new position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,000 shares of the company's stock, valued at approximately $298,000.
A number of other hedge funds also recently modified their holdings of the stock. Comerica Bank raised its holdings in Kodiak Gas Services by 710.1% during the 4th quarter. Comerica Bank now owns 721 shares of the company's stock valued at $29,000 after acquiring an additional 632 shares during the period. Sterling Capital Management LLC raised its holdings in Kodiak Gas Services by 1,322.6% during the 4th quarter. Sterling Capital Management LLC now owns 754 shares of the company's stock valued at $31,000 after acquiring an additional 701 shares during the period. State of Wyoming bought a new stake in Kodiak Gas Services during the 4th quarter valued at $57,000. Amalgamated Bank raised its holdings in Kodiak Gas Services by 40.0% during the 1st quarter. Amalgamated Bank now owns 1,554 shares of the company's stock valued at $58,000 after acquiring an additional 444 shares during the period. Finally, Covestor Ltd raised its holdings in Kodiak Gas Services by 33,700.0% during the 1st quarter. Covestor Ltd now owns 1,690 shares of the company's stock valued at $63,000 after acquiring an additional 1,685 shares during the period. Institutional investors own 24.95% of the company's stock.
Kodiak Gas Services Price Performance
NYSE:KGS traded up $0.51 during midday trading on Tuesday, hitting $34.85. The company had a trading volume of 728,705 shares, compared to its average volume of 1,223,202. Kodiak Gas Services, Inc. has a 52-week low of $25.21 and a 52-week high of $50.43. The stock's fifty day moving average price is $33.28 and its 200-day moving average price is $35.56. The company has a market capitalization of $3.06 billion, a PE ratio of 38.73 and a beta of 1.33. The company has a quick ratio of 0.78, a current ratio of 1.10 and a debt-to-equity ratio of 1.89.
Kodiak Gas Services (NYSE:KGS - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. Kodiak Gas Services had a net margin of 6.48% and a return on equity of 10.35%. The company had revenue of $322.84 million during the quarter, compared to analyst estimates of $335.10 million. During the same period in the previous year, the business earned $0.06 earnings per share. The firm's quarterly revenue was up 4.2% compared to the same quarter last year. As a group, research analysts expect that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current year.
Kodiak Gas Services announced that its board has initiated a stock repurchase plan on Monday, August 11th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to repurchase up to 1.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.
Kodiak Gas Services Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 4th were given a $0.45 dividend. The ex-dividend date was Monday, August 4th. This represents a $1.80 annualized dividend and a yield of 5.2%. Kodiak Gas Services's payout ratio is 200.00%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. reissued a "buy" rating and set a $43.00 target price (up previously from $42.00) on shares of Kodiak Gas Services in a report on Monday, June 23rd. Mizuho lowered their target price 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 boosted their target price on shares of Kodiak Gas Services from $36.00 to $37.00 and gave the company an "equal weight" rating in a report on Thursday, August 14th. Finally, Royal Bank Of Canada boosted their price target on shares of Kodiak Gas Services from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Wednesday, August 13th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Kodiak Gas Services has a consensus rating of "Moderate Buy" and an average price target of $41.10.
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About Kodiak Gas Services
(
Free Report)
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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