Wells Fargo & Company MN Buys 9,624 Shares of Kodiak Gas Services, Inc. (NYSE:KGS)

Wells Fargo & Company MN grew its stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 102.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,035 shares of the company's stock after acquiring an additional 9,624 shares during the period. Wells Fargo & Company MN's holdings in Kodiak Gas Services were worth $777,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of KGS. Pamalican Asset Management Ltd bought a new position in Kodiak Gas Services during the 4th quarter worth about $12,249,000. Bryce Point Capital LLC bought a new position in shares of Kodiak Gas Services during the fourth quarter valued at approximately $950,000. Geode Capital Management LLC increased its holdings in Kodiak Gas Services by 51.0% during the fourth quarter. Geode Capital Management LLC now owns 827,274 shares of the company's stock valued at $33,786,000 after buying an additional 279,459 shares during the period. Alliancebernstein L.P. raised its stake in Kodiak Gas Services by 168.3% in the fourth quarter. Alliancebernstein L.P. now owns 346,462 shares of the company's stock worth $14,146,000 after buying an additional 217,322 shares in the last quarter. Finally, Ramirez Asset Management Inc. purchased a new stake in Kodiak Gas Services during the fourth quarter worth $650,000. Hedge funds and other institutional investors own 24.95% of the company's stock.

Kodiak Gas Services Trading Up 3.7 %

Shares of Kodiak Gas Services stock opened at $35.26 on Friday. The firm's 50 day simple moving average is $36.00 and its two-hundred day simple moving average is $39.00. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 121.57 and a beta of 1.52. Kodiak Gas Services, Inc. has a 12-month low of $24.84 and a 12-month high of $50.43. The company has a current ratio of 1.27, a quick ratio of 0.93 and a debt-to-equity ratio of 1.86.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.15). The company had revenue of $309.52 million for the quarter, compared to analysts' expectations of $323.82 million. Kodiak Gas Services had a net margin of 2.23% and a return on equity of 7.91%. Analysts predict that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be issued a $0.45 dividend. The ex-dividend date is Monday, May 5th. This is a positive change from Kodiak Gas Services's previous quarterly dividend of $0.41. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.11%. Kodiak Gas Services's dividend payout ratio is currently 305.08%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on KGS shares. Truist Financial boosted their price target on Kodiak Gas Services from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. Citigroup boosted their target price on shares of Kodiak Gas Services from $41.00 to $48.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Royal Bank of Canada set a $45.00 price target on shares of Kodiak Gas Services and gave the company an "outperform" rating in a report on Tuesday, March 11th. Mizuho boosted their price objective on shares of Kodiak Gas Services from $47.00 to $55.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Finally, Raymond James reissued an "outperform" rating on shares of Kodiak Gas Services in a research report on Friday, March 7th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $41.45.

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.

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