Zimmer Partners LP Boosts Holdings in Kodiak Gas Services, Inc. $KGS

Key Points

• Zimmer Partners LP increased its holdings in Kodiak Gas Services, Inc. by 14.2% during the first quarter, acquiring an additional 476,363 shares to reach a total of 3,824,063 shares, making it the fund's 10th largest position.
• Kodiak Gas Services announced a quarterly dividend of $0.45 per share, translating to an annualized yield of 5.3% and a payout ratio of 200.00%.
• Analysts have a consensus rating of "Moderate Buy" for Kodiak Gas Services, with several price target increases, reflecting positive market sentiment and expectations for future performance.

Zimmer Partners LP raised its stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 14.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,824,063 shares of the company's stock after buying an additional 476,363 shares during the period. Kodiak Gas Services comprises about 2.7% of Zimmer Partners LP's investment portfolio, making the stock its 10th biggest holding. Zimmer Partners LP owned 4.31% of Kodiak Gas Services worth $142,638,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of KGS. Comerica Bank boosted its stake in shares of 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 buying an additional 632 shares during the period. Quarry LP acquired a new stake in shares of Kodiak Gas Services during the 1st quarter valued at $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Kodiak Gas Services during the 1st quarter valued at $37,000. State of Wyoming acquired a new stake in shares of Kodiak Gas Services during the 4th quarter valued at $57,000. Finally, Amalgamated Bank raised its holdings in shares of 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 purchasing an additional 444 shares in the last quarter. Institutional investors and hedge funds own 24.95% of the company's stock.

Kodiak Gas Services Stock Performance

KGS traded down $0.47 during trading on Friday, hitting $33.24. The stock had a trading volume of 2,023,430 shares, compared to its average volume of 1,866,914. The firm has a market cap of $2.88 billion, a PE ratio of 36.94 and a beta of 1.34. Kodiak Gas Services, Inc. has a 12 month low of $26.12 and a 12 month high of $50.43. 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 company has a 50 day simple moving average of $33.48 and a 200-day simple moving average of $34.67.

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

Kodiak Gas Services declared that its board has initiated a stock repurchase program on Monday, August 11th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Kodiak Gas Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 4th were issued a dividend of $0.45 per share. The ex-dividend date was Monday, August 4th. This represents a $1.80 annualized dividend and a dividend yield of 5.4%. Kodiak Gas Services's payout ratio is presently 200.00%.

Analysts Set New Price Targets

KGS has been the topic of a number of recent research reports. Mizuho raised their price target on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Zacks Research downgraded shares of Kodiak Gas Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Royal Bank Of Canada raised their price target on shares of Kodiak Gas Services from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Wednesday, August 13th. Barclays raised their price target 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, JPMorgan Chase & Co. restated a "buy" rating and set a $43.00 price target (up previously from $42.00) on shares of Kodiak Gas Services in a report on Monday, June 23rd. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.