VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 53,500 Kodiak Gas Services, Inc. $KGS

Key Points

• Virginia Retirement Systems purchased 53,500 shares of Kodiak Gas Services in the second quarter, worth approximately $4.02 million, giving it a 0.05% stake. Institutional investors and hedge funds collectively own 24.95% of the company.
• Analysts remain broadly positive, with 10 Buy ratings and two Hold ratings, resulting in a “Moderate Buy” consensus and an average price target of $78.89.
• Although quarterly revenue rose 21.2% year over year to $391.12 million, Kodiak’s $0.55 EPS missed estimates of $0.67. The company also pays a quarterly dividend of $0.49 per share, representing a 3.1% yield.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 53,500 shares of the company's stock, valued at approximately $4,019,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.05% of Kodiak Gas Services as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the stock. Van ECK Associates Corp boosted its stake in shares of Kodiak Gas Services by 0.9% during the fourth quarter. Van ECK Associates Corp now owns 23,640 shares of the company's stock valued at $884,000 after acquiring an additional 209 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Kodiak Gas Services by 29.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,545 shares of the company's stock valued at $90,000 after purchasing an additional 352 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Kodiak Gas Services during the 2nd quarter worth about $29,000. Aurora Investment Counsel boosted its stake in shares of Kodiak Gas Services by 0.6% during the 4th quarter. Aurora Investment Counsel now owns 67,192 shares of the company's stock worth $2,513,000 after purchasing an additional 397 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of Kodiak Gas Services by 2.7% during the 2nd quarter. Captrust Financial Advisors now owns 16,925 shares of the company's stock worth $580,000 after purchasing an additional 448 shares during the last quarter. 24.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KGS has been the subject of a number of analyst reports. Wells Fargo & Company began coverage on shares of Kodiak Gas Services in a research report on Wednesday, May 27th. They issued an "overweight" rating and a $93.00 price objective for the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Kodiak Gas Services in a research note on Wednesday, August 26th. Piper Sandler assumed coverage on Kodiak Gas Services in a report on Tuesday, July 28th. They issued an "overweight" rating and a $78.00 price target for the company. Stifel Nicolaus increased their price target on Kodiak Gas Services from $90.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Finally, Jefferies Financial Group decreased their price objective on Kodiak Gas Services from $79.00 to $69.00 and set a "buy" rating on the stock in a report on Monday, August 10th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $78.89.

Kodiak Gas Services Stock Performance

Kodiak Gas Services stock opened at $63.98 on Thursday. The stock's 50-day moving average is $62.50 and its 200-day moving average is $63.67. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 76.17, a price-to-earnings-growth ratio of 0.93 and a beta of 0.96. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.45 and a quick ratio of 1.15. Kodiak Gas Services, Inc. has a 12 month low of $32.55 and a 12 month high of $77.68.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.12). The firm had revenue of $391.12 million for the quarter, compared to analysts' expectations of $386.30 million. Kodiak Gas Services had a return on equity of 11.92% and a net margin of 5.77%.The firm's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.43 EPS. Equities analysts anticipate that Kodiak Gas Services, Inc. will post 2.44 earnings per share for the current year.

Kodiak Gas Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Monday, August 17th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.1%. The ex-dividend date was Monday, August 17th. Kodiak Gas Services's payout ratio is currently 233.33%.

Insider Buying and Selling

In other Kodiak Gas Services news, EVP Cory Roclawski sold 4,169 shares of the firm's stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $68.36, for a total value of $284,992.84. Following the transaction, the executive vice president directly owned 24,662 shares of the company's stock, valued at $1,685,894.32. This trade represents a 14.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert McKee sold 5,999 shares of the company's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $59.31, for a total value of $355,800.69. Following the completion of the sale, the chief executive officer directly owned 292,590 shares of the company's stock, valued at $17,353,512.90. The trade was a 2.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 24,530 shares of company stock valued at $1,584,169. 0.64% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding KGS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kodiak Gas Services, Inc. (NYSE:KGS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.