Cresset Asset Management LLC Makes New $694,000 Investment in Kodiak Gas Services, Inc. (NYSE:KGS)

Cresset Asset Management LLC bought a new position in Kodiak Gas Services, Inc. (NYSE:KGS) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,986 shares of the company’s stock, valued at approximately $694,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KGS. GAMMA Investing LLC lifted its position in Kodiak Gas Services by 94.7% in the 4th quarter. GAMMA Investing LLC now owns 703 shares of the company’s stock worth $29,000 after buying an additional 342 shares in the last quarter. Comerica Bank lifted its position in Kodiak Gas Services by 710.1% in the 4th quarter. Comerica Bank now owns 721 shares of the company’s stock worth $29,000 after buying an additional 632 shares in the last quarter. Sterling Capital Management LLC lifted its position in Kodiak Gas Services by 1,322.6% in the 4th quarter. Sterling Capital Management LLC now owns 754 shares of the company’s stock worth $31,000 after buying an additional 701 shares in the last quarter. Amalgamated Bank lifted its position in Kodiak Gas Services by 112.6% in the 4th quarter. Amalgamated Bank now owns 1,110 shares of the company’s stock worth $45,000 after buying an additional 588 shares in the last quarter. Finally, Transcendent Capital Group LLC bought a new position in shares of Kodiak Gas Services during the 4th quarter valued at $49,000. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Kodiak Gas Services Stock Performance

NYSE:KGS opened at $36.54 on Wednesday. Kodiak Gas Services, Inc. has a 1 year low of $24.84 and a 1 year high of $50.43. The firm’s fifty day simple moving average is $35.12 and its 200 day simple moving average is $39.29. The company has a current ratio of 1.27, a quick ratio of 0.93 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $3.24 billion, a PE ratio of 126.00 and a beta of 1.59.

Kodiak Gas Services (NYSE:KGS) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.03. The company had revenue of $329.64 million for the quarter, compared to analyst estimates of $328.45 million. Kodiak Gas Services had a net margin of 2.23% and a return on equity of 7.91%. The business’s quarterly revenue was up 52.9% on a year-over-year basis. During the same period last year, the business posted $0.39 EPS. On average, sell-side 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. Shareholders of record on Monday, May 5th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.93%. This is a positive change 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 (DPR) is currently 339.62%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on KGS shares. 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. Raymond James restated an “outperform” rating on shares of Kodiak Gas Services in a report on Friday, March 7th. Citigroup raised their price target on shares of Kodiak Gas Services from $41.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Truist Financial raised their price target on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Finally, Barclays cut their price target 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. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $41.45.

Kodiak Gas Services 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.