Kodiak Gas Services (NYSE:KGS) COO Sells $53,250.00 in Stock

Key Points

• COO William Lenamon sold 1,000 Kodiak Gas Services shares at an average price of $53.25, generating $53,250. After the sale, he retained 84,294 shares valued at approximately $4.49 million.
• Kodiak shares traded near $52.01, well below their 50-day and 200-day moving averages of $58.48 and $63.68, respectively. The company reported quarterly revenue of $391.12 million, but earnings per share of $0.55 missed analyst expectations.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and two Holds, a “Moderate Buy” consensus, and an average price target of $80.30. The company also pays a quarterly dividend of $0.49, implying a 3.8% yield.

Kodiak Gas Services, Inc. (NYSE:KGS - Get Free Report) COO William Lenamon sold 1,000 shares of the stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $53.25, for a total value of $53,250.00. Following the completion of the sale, the chief operating officer directly owned 84,294 shares of the company's stock, valued at approximately $4,488,655.50. The trade was a 1.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

William Chad Lenamon also recently made the following trade(s):

• On Friday, September 11th, William Lenamon sold 1,000 shares of Kodiak Gas Services stock. The stock was sold at an average price of $63.21, for a total transaction of $63,210.00.

Kodiak Gas Services Stock Performance

NYSE:KGS traded down $0.48 during mid-day trading on Tuesday, hitting $52.01. The stock had a trading volume of 2,801,669 shares, compared to its average volume of 1,711,014. The company's 50 day simple moving average is $58.48 and its 200 day simple moving average is $63.68. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of 61.91 and a beta of 1.01. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.15 and a current ratio of 1.45. Kodiak Gas Services, Inc. has a twelve month low of $32.55 and a twelve month high of $77.68.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last released its quarterly earnings data 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 business had revenue of $391.12 million during the quarter, compared to analyst estimates of $386.30 million. Kodiak Gas Services had a net margin of 5.77% and a return on equity of 11.92%. The business's quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.43 earnings per share. On average, equities research analysts forecast that Kodiak Gas Services, Inc. will post 2.46 earnings per share for the current year.

Kodiak Gas Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Monday, August 17th were given a $0.49 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.96 annualized dividend and a dividend yield of 3.8%. Kodiak Gas Services's dividend payout ratio is presently 233.33%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KGS. Citigroup reduced their price target on Kodiak Gas Services from $86.00 to $82.00 and set a "buy" rating on the stock in a research report on Friday. JPMorgan Chase & Co. lowered their target price on Kodiak Gas Services from $79.00 to $78.00 and set an "overweight" rating for the company in a research report on Thursday, October 8th. Piper Sandler initiated coverage on Kodiak Gas Services in a report on Tuesday, July 28th. They set an "overweight" rating and a $78.00 target price on the stock. Barclays reduced their price target on Kodiak Gas Services from $72.00 to $67.00 and set an "overweight" rating on the stock in a research report on Monday, October 5th. Finally, Stifel Nicolaus increased their price target on Kodiak Gas Services from $90.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $80.30.

Hedge Funds Weigh In On Kodiak Gas Services

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Kodiak Gas Services in the second quarter valued at approximately $1,142,139,000. Dimensional Fund Advisors LP lifted its holdings in Kodiak Gas Services by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,105,555 shares of the company's stock worth $181,108,000 after acquiring an additional 135,998 shares during the period. Wellington Management Group LLP lifted its holdings in Kodiak Gas Services by 85.0% during the second quarter. Wellington Management Group LLP now owns 2,432,174 shares of the company's stock worth $182,729,000 after acquiring an additional 1,117,743 shares during the period. Bank of America Corp DE boosted its position in Kodiak Gas Services by 16.6% in the first quarter. Bank of America Corp DE now owns 1,537,818 shares of the company's stock worth $89,686,000 after purchasing an additional 219,214 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP purchased a new position in Kodiak Gas Services in the second quarter worth $84,821,000. Institutional investors and hedge funds own 24.95% of the company's stock.

About Kodiak Gas Services

Kodiak Gas Services, Inc NYSE: KGS provides contract natural gas compression services in the United States. The company helps oil and gas producers and midstream operators move natural gas through gathering systems, processing facilities, pipelines and other infrastructure by supplying and operating compression equipment.

Its services include the design, installation, commissioning, operation, maintenance and relocation of natural gas compression systems. Kodiak owns and manages a fleet of compressors that can be deployed for a range of applications, including gathering, processing, storage and transmission.

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