Kodiak Gas Services (NYSE:KGS) Stock: Insider Robert Michael Mckee Sells 2,666 Shares

Kodiak Gas Services, Inc. (NYSE:KGS) CEO Robert McKee sold 2,666 shares of the stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $53.95, for a total value of $143,830.70. Following the completion of the transaction, the chief executive officer directly owned 289,924 shares of the company’s stock, valued at $15,641,399.80. This trade represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Robert Michael Mckee also recently made the following trade(s):

• On Tuesday, September 1st, Robert McKee sold 5,999 shares of Kodiak Gas Services stock. The shares were sold at an average price of $59.31, for a total value of $355,800.69.
• On Wednesday, August 19th, Robert McKee sold 6,008 shares of Kodiak Gas Services stock. The shares were sold at an average price of $62.39, for a total value of $374,839.12.

Kodiak Gas Services Stock Performance

KGS stock traded up $2.22 during trading on Tuesday, reaching $55.78. 1,474,330 shares of the company’s stock were exchanged, compared to its average volume of 1,710,870. The company has a quick ratio of 1.15, a current ratio of 1.45 and a debt-to-equity ratio of 1.28. Kodiak Gas Services, Inc. has a 1-year low of $32.55 and a 1-year high of $77.68. The company’s fifty day moving average price is $58.82 and its 200-day moving average price is $63.80. The firm has a market cap of $5.66 billion, a PE ratio of 66.41 and a beta of 1.01.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.12). The business had revenue of $391.12 million during the quarter, compared to the consensus estimate of $386.30 million. Kodiak Gas Services had a return on equity of 11.92% and a net margin of 5.77%.The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.43 EPS. On average, research analysts expect that Kodiak Gas Services, Inc. will post 2.46 EPS for the current fiscal year.

Kodiak Gas Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Monday, August 17th were given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Monday, August 17th. Kodiak Gas Services’s dividend payout ratio is currently 233.33%.

Institutional Investors Weigh In On Kodiak Gas Services

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Kodiak Gas Services during the 2nd quarter worth $1,142,139,000. Wellington Management Group LLP raised its position in shares of Kodiak Gas Services by 85.0% during the second quarter. Wellington Management Group LLP now owns 2,432,174 shares of the company’s stock worth $182,729,000 after purchasing an additional 1,117,743 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Kodiak Gas Services by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,105,555 shares of the company’s stock worth $181,108,000 after purchasing an additional 135,998 shares during the period. Bank of America Corp DE purchased a new stake in shares of Kodiak Gas Services during the second quarter valued at $109,850,000. Finally, Kayne Anderson Capital Advisors LP purchased a new stake in shares of Kodiak Gas Services during the second quarter valued at $84,821,000. Institutional investors and hedge funds own 24.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KGS. Barclays dropped their price target on shares of Kodiak Gas Services from $72.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday. Jefferies Financial Group decreased their price objective on shares of Kodiak Gas Services from $79.00 to $69.00 and set a “buy” rating for the company in a report on Monday, August 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Kodiak Gas Services in a research note on Wednesday, August 26th. Stifel Nicolaus boosted their target price on Kodiak Gas Services from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Finally, Piper Sandler began coverage on Kodiak Gas Services in a research report on Tuesday, July 28th. They issued an “overweight” rating and a $78.00 target price for the company. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Kodiak Gas Services has an average rating of “Moderate Buy” and an average target price of $78.33.

About Kodiak Gas Services

Kodiak Gas Services, Inc (NYSE:KGS) provides contract natural gas compression services in the United States. The company helps oil and gas producers and midstream operators move natural gas through gathering systems, processing facilities, pipelines and other infrastructure by supplying and operating compression equipment.

Its services include the design, installation, commissioning, operation, maintenance and relocation of natural gas compression systems. Kodiak owns and manages a fleet of compressors that can be deployed for a range of applications, including gathering, processing, storage and transmission.