J. Goldman & Co LP Buys New Stake in Kodiak Gas Services, Inc. $KGS

J. Goldman & Co LP acquired a new stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 22,200 shares of the company’s stock, valued at approximately $1,668,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in shares of Kodiak Gas Services by 1,501.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company’s stock valued at $42,000 after buying an additional 1,156 shares in the last quarter. State of Wyoming grew its position in Kodiak Gas Services by 201.7% in the fourth quarter. State of Wyoming now owns 1,219 shares of the company’s stock worth $46,000 after acquiring an additional 815 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Kodiak Gas Services by 80.4% during the third quarter. PNC Financial Services Group Inc. now owns 1,449 shares of the company’s stock worth $54,000 after acquiring an additional 646 shares during the last quarter. Harbor Investment Advisory LLC bought a new stake in Kodiak Gas Services during the second quarter worth approximately $76,000. Finally, Allworth Financial LP bought a new stake in Kodiak Gas Services during the second quarter worth approximately $80,000. 24.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Ewan William Hamilton sold 2,729 shares of Kodiak Gas Services stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $68.62, for a total value of $187,263.98. Following the completion of the sale, the chief accounting officer directly owned 31,617 shares in the company, valued at $2,169,558.54. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Robert Michael Mckee sold 6,008 shares of Kodiak Gas Services stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $62.39, for a total value of $374,839.12. Following the completion of the sale, the chief executive officer owned 298,589 shares of the company’s stock, valued at $18,628,967.71. The trade was a 1.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 19,531 shares of company stock worth $1,296,158. 0.64% of the stock is owned by company insiders.

Kodiak Gas Services Trading Down 0.4%

NYSE KGS opened at $58.95 on Wednesday. The stock has a market cap of $5.96 billion, a PE ratio of 70.18, a PEG ratio of 0.86 and a beta of 0.97. Kodiak Gas Services, Inc. has a 12 month low of $32.55 and a 12 month high of $77.68. The company’s 50-day moving average price is $64.81 and its 200-day moving average price is $62.83. The company has a current ratio of 1.45, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28.

Kodiak Gas Services (NYSE:KGS) last issued its earnings results on Thursday, August 6th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.12). Kodiak Gas Services had a return on equity of 11.92% and a net margin of 5.77%.The company had revenue of $391.12 million during the quarter, compared to the consensus estimate of $386.30 million. During the same quarter in the prior year, the company earned $0.43 earnings per share. Kodiak Gas Services’s revenue was up 21.2% on a year-over-year basis. 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 company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Monday, August 17th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, August 17th. Kodiak Gas Services’s dividend payout ratio is currently 233.33%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on KGS shares. The Goldman Sachs Group raised their price objective on Kodiak Gas Services from $69.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, May 15th. 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 report on Tuesday, August 11th. Barclays lowered their price target on Kodiak Gas Services from $76.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, July 8th. Citigroup lifted their price objective on shares of Kodiak Gas Services from $63.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Royal Bank Of Canada boosted their price objective on shares of Kodiak Gas Services from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.89.

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. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings.