Van ECK Associates Corp Buys 59,062 Shares of Kodiak Gas Services, Inc. $KGS

Van ECK Associates Corp boosted its stake in Kodiak Gas Services, Inc. (NYSE:KGS) by 151.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 98,146 shares of the company’s stock after buying an additional 59,062 shares during the quarter. Van ECK Associates Corp owned approximately 0.10% of Kodiak Gas Services worth $7,374,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of KGS. BlackRock Inc. purchased a new position in Kodiak Gas Services during the second quarter worth about $1,142,139,000. Vanguard Group Inc. grew its position in Kodiak Gas Services by 33.8% in the 4th quarter. Vanguard Group Inc. now owns 6,170,360 shares of the company’s stock worth $230,771,000 after purchasing an additional 1,559,172 shares in the last quarter. Bank of America Corp DE purchased a new stake in Kodiak Gas Services in the 2nd quarter valued at about $109,850,000. Invesco Ltd. increased its stake in Kodiak Gas Services by 29.5% in the 3rd quarter. Invesco Ltd. now owns 6,305,789 shares of the company’s stock valued at $233,125,000 after buying an additional 1,436,443 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in shares of Kodiak Gas Services by 3,046.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,471,663 shares of the company’s stock worth $55,040,000 after buying an additional 1,424,888 shares in the last quarter. 24.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Zacks Research upgraded Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Citigroup raised their target price on Kodiak Gas Services from $63.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Piper Sandler initiated coverage on Kodiak Gas Services in a research report on Tuesday, July 28th. They set an “overweight” rating and a $78.00 target price for the company. The Goldman Sachs Group lifted their target price on Kodiak Gas Services from $69.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, Jefferies Financial Group cut their price target on shares of Kodiak Gas Services from $79.00 to $69.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.89.

Insider Buying and Selling

In other Kodiak Gas Services news, CAO Ewan William Hamilton sold 2,729 shares of the stock in a transaction dated 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 transaction, the chief accounting officer owned 31,617 shares in the company, valued at $2,169,558.54. This trade represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Cory Anne Roclawski sold 4,169 shares of Kodiak Gas Services stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $68.36, for a total transaction of $284,992.84. Following the completion of the transaction, the executive vice president owned 24,662 shares of the company’s stock, valued at $1,685,894.32. The trade was a 14.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 19,531 shares of company stock worth $1,296,158 in the last quarter. 0.64% of the stock is currently owned by company insiders.

Kodiak Gas Services Price Performance

Kodiak Gas Services stock opened at $59.62 on Wednesday. Kodiak Gas Services, Inc. has a 12 month low of $32.55 and a 12 month high of $77.68. The company has a current ratio of 1.45, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28. The business’s 50 day simple moving average is $63.80 and its 200 day simple moving average is $63.15. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 70.98, a PEG ratio of 0.86 and a beta of 0.98.

Kodiak Gas Services (NYSE:KGS) last released its earnings results on Thursday, August 6th. The company reported $0.55 earnings per share (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 firm had revenue of $391.12 million during the quarter, compared to analysts’ expectations of $386.30 million. During the same period in the prior year, the business earned $0.43 earnings per share. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. Sell-side analysts forecast that Kodiak Gas Services, Inc. will post 2.44 EPS for the current year.

Kodiak Gas Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Monday, August 17th were paid a dividend of $0.49 per share. The ex-dividend date was Monday, August 17th. This represents a $1.96 annualized dividend and a dividend yield of 3.3%. Kodiak Gas Services’s dividend payout ratio is presently 233.33%.

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