Wellington Management Group LLP Acquires 1,117,743 Shares of Kodiak Gas Services, Inc. $KGS

Key Points

• Wellington Management increased its Kodiak Gas Services stake by 85%, acquiring 1.12 million shares to own 2.43 million shares, or approximately 2.41% of the company. Institutional investors collectively own 24.95% of KGS.
• Analysts maintain a generally positive outlook, with ten Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $78.89.
• Kodiak reported quarterly revenue growth of 21.2% to $391.1 million but missed EPS expectations, posting $0.55 versus the $0.67 consensus. The company also declared a quarterly dividend of $0.49 per share, representing a 3.3% annualized yield.

Wellington Management Group LLP increased its stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 85.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,432,174 shares of the company's stock after acquiring an additional 1,117,743 shares during the quarter. Wellington Management Group LLP owned about 2.41% of Kodiak Gas Services worth $182,729,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new stake in Kodiak Gas Services in the 2nd quarter worth $29,000. EverSource Wealth Advisors LLC lifted its stake in shares of Kodiak Gas Services by 1,501.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company's stock valued at $42,000 after buying an additional 1,156 shares during the period. State of Wyoming lifted its stake in shares of Kodiak Gas Services by 201.7% in the fourth quarter. State of Wyoming now owns 1,219 shares of the company's stock valued at $46,000 after buying an additional 815 shares during the period. PNC Financial Services Group Inc. grew its position in Kodiak Gas Services by 80.4% during the third quarter. PNC Financial Services Group Inc. now owns 1,449 shares of the company's stock worth $54,000 after buying an additional 646 shares in the last quarter. Finally, Harbor Investment Advisory LLC acquired a new stake in Kodiak Gas Services during the second quarter worth about $76,000. 24.95% of the stock is owned by institutional investors.

Insider Transactions at Kodiak Gas Services

In other Kodiak Gas Services news, insider Pedro R. Buhigas sold 4,625 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $67.78, for a total transaction of $313,482.50. Following the completion of the transaction, the insider directly owned 38,454 shares in the company, valued at $2,606,412.12. This represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Cory Anne Roclawski sold 4,169 shares of the stock in a transaction on 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 owned 24,662 shares of the company's stock, valued at $1,685,894.32. This represents a 14.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 19,531 shares of company stock valued at $1,296,158. 0.64% of the stock is owned by insiders.

Wall Street Analyst Weigh In

KGS has been the subject of several recent research reports. Royal Bank Of Canada upped their price target on Kodiak Gas Services from $84.00 to $88.00 and gave the company an "outperform" rating in a report on Thursday, August 13th. Weiss Ratings reissued a "hold (c+)" rating on shares of Kodiak Gas Services in a report on Wednesday, August 26th. Stifel Nicolaus boosted their price objective on Kodiak Gas Services from $90.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Zacks Research upgraded Kodiak Gas Services from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 6th. Finally, Jefferies Financial Group reduced their target price on Kodiak Gas Services from $79.00 to $69.00 and set a "buy" rating for the company in a research report on Monday, August 10th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Kodiak Gas Services presently has an average rating of "Moderate Buy" and a consensus price target of $78.89.

Kodiak Gas Services Stock Up 2.0%

NYSE KGS opened at $58.81 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28. The stock's 50 day moving average is $64.04 and its two-hundred day moving average is $63.10. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 70.01, a PEG ratio of 0.84 and a beta of 0.98. Kodiak Gas Services, Inc. has a 1-year low of $32.55 and a 1-year 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). Kodiak Gas Services had a return on equity of 11.92% and a net margin of 5.77%.The company had revenue of $391.12 million during the quarter, compared to analyst estimates of $386.30 million. During the same period in the previous year, the company posted $0.43 earnings per share. The company's quarterly revenue was up 21.2% on a year-over-year basis. Equities analysts forecast that Kodiak Gas Services, Inc. will post 2.44 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

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