Renaissance Technologies LLC Boosts Holdings in Kodiak Gas Services, Inc. $KGS

Renaissance Technologies LLC increased its position in Kodiak Gas Services, Inc. (NYSE:KGS) by 45.9% during the first quarter, HoldingsChannel.com reports. The firm owned 838,622 shares of the company’s stock after acquiring an additional 263,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Kodiak Gas Services were worth $48,908,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its stake in Kodiak Gas Services by 52.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,062 shares of the company’s stock valued at $40,000 after purchasing an additional 364 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Kodiak Gas Services by 1,501.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company’s stock worth $42,000 after buying an additional 1,156 shares during the last quarter. State of Wyoming raised its holdings 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 buying an additional 815 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Kodiak Gas Services by 80.3% in the fourth quarter. GAMMA Investing LLC now owns 1,248 shares of the company’s stock worth $47,000 after buying an additional 556 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Kodiak Gas Services by 80.4% in the third quarter. PNC Financial Services Group Inc. now owns 1,449 shares of the company’s stock worth $54,000 after buying an additional 646 shares in the last quarter. 24.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KGS. The Goldman Sachs Group increased their price target on shares of Kodiak Gas Services from $69.00 to $88.00 and gave the company a “buy” rating in a report on Friday, May 15th. Wells Fargo & Company assumed coverage on shares of Kodiak Gas Services in a report on Wednesday, May 27th. They issued an “overweight” rating and a $93.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kodiak Gas Services in a research report on Friday, May 29th. Stifel Nicolaus increased their target price on Kodiak Gas Services from $84.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, Royal Bank Of Canada lifted their target price on Kodiak Gas Services from $64.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, May 18th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Kodiak Gas Services has an average rating of “Moderate Buy” and a consensus price target of $79.50.

Kodiak Gas Services Stock Performance

Shares of NYSE KGS opened at $57.69 on Tuesday. The firm’s 50-day moving average price is $68.69 and its 200-day moving average price is $59.71. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 2.38. The company has a market cap of $5.12 billion, a PE ratio of 77.96, a PEG ratio of 0.93 and a beta of 0.89. Kodiak Gas Services, Inc. has a 52-week low of $30.06 and a 52-week high of $77.68.

Kodiak Gas Services (NYSE:KGS) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. Kodiak Gas Services had a net margin of 5.13% and a return on equity of 13.12%. The firm had revenue of $345.76 million during the quarter, compared to analyst estimates of $340.23 million. During the same period in the previous year, the business posted $0.33 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, analysts anticipate that Kodiak Gas Services, Inc. will post 2.27 EPS for the current year.

Kodiak Gas Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Monday, May 18th were given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Monday, May 18th. Kodiak Gas Services’s payout ratio is 264.86%.

Insider Activity at Kodiak Gas Services

In other Kodiak Gas Services news, CAO Ewan William Hamilton sold 2,729 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $68.62, for a total transaction of $187,263.98. Following the completion of the sale, the chief accounting officer directly owned 31,617 shares in the company, valued at approximately $2,169,558.54. The trade was a 7.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Cory Anne Roclawski sold 4,169 shares of the stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $68.36, for a total value of $284,992.84. Following the transaction, the executive vice president directly owned 24,662 shares in the company, valued at $1,685,894.32. The trade was a 14.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 13,523 shares of company stock worth $921,319. Company insiders own 0.64% of the company’s stock.

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