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

Wells Fargo & Company MN grew its holdings in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 102.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of KGS. Vanguard Group Inc. grew its position in Kodiak Gas Services by 52.3% in the 4th quarter. Vanguard Group Inc. now owns 2,659,015 shares of the company's stock valued at $108,568,000 after purchasing an additional 913,104 shares during the period. American Century Companies Inc. raised its holdings in shares of Kodiak Gas Services by 26.4% in the 4th quarter. American Century Companies Inc. now owns 939,459 shares of the company's stock worth $38,358,000 after acquiring an additional 196,273 shares during the last quarter. Geode Capital Management LLC lifted its position in Kodiak Gas Services by 51.0% in the 4th quarter. Geode Capital Management LLC now owns 827,274 shares of the company's stock valued at $33,786,000 after acquiring an additional 279,459 shares in the last quarter. Augustine Asset Management Inc. boosted its stake in Kodiak Gas Services by 1,761.2% during the 4th quarter. Augustine Asset Management Inc. now owns 640,244 shares of the company's stock valued at $26,141,000 after purchasing an additional 605,844 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Kodiak Gas Services by 168.3% during the 4th quarter. Alliancebernstein L.P. now owns 346,462 shares of the company's stock worth $14,146,000 after purchasing an additional 217,322 shares in the last quarter. 24.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays decreased their price target on Kodiak Gas Services from $41.00 to $36.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Raymond James restated an "outperform" rating on shares of Kodiak Gas Services in a report on Friday, March 7th. Citigroup boosted their target price on shares of Kodiak Gas Services from $41.00 to $48.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Mizuho lifted their price target on shares of Kodiak Gas Services from $47.00 to $55.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Finally, Truist Financial increased their price objective on Kodiak Gas Services from $45.00 to $47.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $41.45.

Kodiak Gas Services Price Performance

Shares of Kodiak Gas Services stock traded down $0.16 on Wednesday, reaching $34.07. The stock had a trading volume of 950,566 shares, compared to its average volume of 810,953. The business's 50 day moving average is $35.35 and its two-hundred day moving average is $39.09. The company has a market cap of $3.02 billion, a P/E ratio of 117.47 and a beta of 1.59. Kodiak Gas Services, Inc. has a 1 year low of $24.84 and a 1 year 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 released its quarterly earnings results on Wednesday, March 5th. The company reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.15). Kodiak Gas Services had a net margin of 2.23% and a return on equity of 7.91%. The firm had revenue of $309.52 million for the quarter, compared to analysts' expectations of $323.82 million. As a group, research analysts anticipate that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services Increases Dividend

The business also recently declared 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. This is a positive change from Kodiak Gas Services's previous quarterly dividend of $0.41. The ex-dividend date is Monday, May 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.28%. Kodiak Gas Services's dividend payout ratio is presently 305.08%.

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.