Point72 Asset Management L.P. Takes $9.04 Million Position in Kodiak Gas Services, Inc. (NYSE:KGS)

Point72 Asset Management L.P. bought a new position in Kodiak Gas Services, Inc. (NYSE:KGS) during the fourth quarter, Holdings Channel reports. The firm bought 221,391 shares of the company’s stock, valued at approximately $9,039,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC increased its holdings in Kodiak Gas Services by 50.2% during the 4th quarter. FMR LLC now owns 7,342,296 shares of the company’s stock worth $299,786,000 after purchasing an additional 2,452,492 shares in the last quarter. Invesco Ltd. boosted its position in shares of Kodiak Gas Services by 1.1% during the fourth quarter. Invesco Ltd. now owns 2,942,782 shares of the company’s stock valued at $120,154,000 after buying an additional 32,966 shares during the last quarter. Vanguard Group Inc. grew its holdings in Kodiak Gas Services by 52.3% during the fourth quarter. Vanguard Group Inc. now owns 2,659,015 shares of the company’s stock worth $108,568,000 after buying an additional 913,104 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Kodiak Gas Services by 14.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,650,183 shares of the company’s stock valued at $67,379,000 after buying an additional 202,050 shares during the last quarter. Finally, Encompass Capital Advisors LLC bought a new position in Kodiak Gas Services during the 4th quarter valued at $66,122,000. Institutional investors and hedge funds own 24.95% of the company’s stock.

Kodiak Gas Services Trading Down 0.4%

NYSE:KGS opened at $35.50 on Monday. 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. The firm’s 50 day moving average is $35.22 and its 200 day moving average is $39.42. The stock has a market capitalization of $3.15 billion, a PE ratio of 122.43 and a beta of 1.59.

Kodiak Gas Services (NYSE:KGS) last released its earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. Kodiak Gas Services had a return on equity of 7.91% and a net margin of 2.23%. The business had revenue of $329.64 million during the quarter, compared to the consensus estimate of $328.45 million. During the same period last year, the business posted $0.39 earnings per share. The business’s revenue for the quarter was up 52.9% on a year-over-year basis. Sell-side analysts expect that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current year.

Kodiak Gas Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a $0.45 dividend. This is a boost from Kodiak Gas Services’s previous quarterly dividend of $0.41. This represents a $1.80 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date of this dividend was Monday, May 5th. Kodiak Gas Services’s payout ratio is currently 339.62%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KGS. Royal Bank of Canada set a $45.00 target price on shares of Kodiak Gas Services and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Mizuho upped 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 report on Monday, February 3rd. Truist Financial lifted their target price on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Raymond James reaffirmed an “outperform” rating on shares of Kodiak Gas Services in a report on Friday, March 7th. Finally, 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 research report on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $41.45.

Kodiak Gas Services Company 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.