Merewether Investment Management LP Boosts Stock Position in Kodiak Gas Services, Inc. (NYSE:KGS)

Merewether Investment Management LP raised its holdings in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 259.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 934,499 shares of the company's stock after acquiring an additional 674,499 shares during the quarter. Kodiak Gas Services makes up 1.5% of Merewether Investment Management LP's investment portfolio, making the stock its 28th biggest holding. Merewether Investment Management LP owned about 1.07% of Kodiak Gas Services worth $38,156,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. FMR LLC lifted its holdings in shares of Kodiak Gas Services by 50.2% in the 4th quarter. FMR LLC now owns 7,342,296 shares of the company's stock valued at $299,786,000 after purchasing an additional 2,452,492 shares during the last quarter. Invesco Ltd. grew its position in Kodiak Gas Services by 1.1% during the fourth quarter. Invesco Ltd. now owns 2,942,782 shares of the company's stock worth $120,154,000 after buying an additional 32,966 shares during the period. Vanguard Group Inc. increased its holdings in Kodiak Gas Services by 52.3% in the fourth quarter. Vanguard Group Inc. now owns 2,659,015 shares of the company's stock valued at $108,568,000 after buying an additional 913,104 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Kodiak Gas Services by 14.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,650,183 shares of the company's stock valued at $67,379,000 after acquiring an additional 202,050 shares during the period. Finally, Encompass Capital Advisors LLC acquired a new stake in shares of Kodiak Gas Services in the 4th quarter worth approximately $66,122,000. Hedge funds and other institutional investors own 24.95% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Citigroup raised their price target on Kodiak Gas Services from $41.00 to $48.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. Royal Bank of Canada set a $45.00 price objective on Kodiak Gas Services and gave the company an "outperform" rating in a research report on Tuesday, March 11th. Truist Financial raised their price target on Kodiak Gas Services from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Tuesday, March 11th. Barclays cut their price objective on shares of Kodiak Gas Services from $41.00 to $36.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Mizuho upped their price target on shares of Kodiak Gas Services from $47.00 to $55.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Kodiak Gas Services has an average rating of "Moderate Buy" and a consensus price target of $41.45.

Kodiak Gas Services Trading Up 2.1%

KGS opened at $36.41 on Tuesday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.93 and a current ratio of 1.27. The firm's fifty day moving average is $35.08 and its two-hundred day moving average is $39.30. Kodiak Gas Services, Inc. has a twelve month low of $24.84 and a twelve month high of $50.43. The firm has a market cap of $3.23 billion, a PE ratio of 125.56 and a beta of 1.59.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.03. Kodiak Gas Services had a return on equity of 7.91% and a net margin of 2.23%. The company had revenue of $329.64 million for the quarter, compared to analyst estimates of $328.45 million. During the same period in the previous year, the company posted $0.39 earnings per share. The company's quarterly revenue was up 52.9% compared to the same quarter last year. Equities research analysts anticipate that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.94%. This is an increase from Kodiak Gas Services's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Monday, May 5th. Kodiak Gas Services's dividend payout ratio is currently 339.62%.

Kodiak Gas Services Company 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.

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