Zimmer Partners LP Has $142.64 Million Stake 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 grew its stake in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 14.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,824,063 shares of the company's stock after purchasing an additional 476,363 shares during the period. Kodiak Gas Services comprises approximately 2.7% of Zimmer Partners LP's investment portfolio, making the stock its 10th largest position. Zimmer Partners LP owned 4.31% of Kodiak Gas Services worth $142,638,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Comerica Bank boosted its stake in shares of Kodiak Gas Services by 710.1% in the 4th quarter. Comerica Bank now owns 721 shares of the company's stock valued at $29,000 after purchasing an additional 632 shares in the last quarter. Quarry LP acquired a new stake in Kodiak Gas Services during the 1st quarter worth approximately $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Kodiak Gas Services during the 1st quarter worth approximately $37,000. State of Wyoming acquired a new stake in Kodiak Gas Services during the 4th quarter worth approximately $57,000. Finally, Amalgamated Bank boosted its position in Kodiak Gas Services by 40.0% during the 1st quarter. Amalgamated Bank now owns 1,554 shares of the company's stock worth $58,000 after buying an additional 444 shares during the period. 24.95% of the stock is currently owned by institutional investors and hedge funds.

Kodiak Gas Services Trading Down 1.4%

Shares of NYSE KGS traded down $0.47 during midday trading on Friday, reaching $33.24. The stock had a trading volume of 2,023,430 shares, compared to its average volume of 1,904,349. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 36.94 and a beta of 1.34. Kodiak Gas Services, Inc. has a twelve month low of $26.12 and a twelve month high of $50.43. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.78 and a current ratio of 1.10. The company's 50 day moving average price is $33.48 and its 200 day moving average price is $34.62.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.06 EPS. As a group, sell-side 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 share buyback plan on Monday, August 11th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 1.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its shares are 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 dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Monday, August 4th. Kodiak Gas Services's payout ratio is presently 200.00%.

Wall Street Analyst Weigh In

Several research firms recently commented on KGS. Barclays lifted their target price on shares of Kodiak Gas Services from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 14th. Mizuho lifted their target price on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Royal Bank Of Canada lifted their target price on shares of Kodiak Gas Services from $42.00 to $43.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. reiterated a "buy" rating and set a $43.00 target price (up from $42.00) on shares of Kodiak Gas Services in a research report on Monday, June 23rd. Finally, Zacks Research downgraded shares of Kodiak Gas Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Kodiak Gas Services presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.30.

About Kodiak Gas Services

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.