Wellington Management Group LLP Sells 493,826 Shares of Kodiak Gas Services, Inc. (NYSE:KGS)

Wellington Management Group LLP trimmed its position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 32.1% during the fourth quarter, HoldingsChannel reports. The firm owned 1,042,668 shares of the company’s stock after selling 493,826 shares during the quarter. Wellington Management Group LLP’s holdings in Kodiak Gas Services were worth $42,572,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Kodiak Gas Services by 52.3% in the 4th quarter. Vanguard Group Inc. now owns 2,659,015 shares of the company’s stock valued at $108,568,000 after buying an additional 913,104 shares in the last quarter. Zimmer Partners LP increased its holdings in shares of Kodiak Gas Services by 313.0% in the third quarter. Zimmer Partners LP now owns 1,779,851 shares of the company’s stock worth $51,616,000 after acquiring an additional 1,348,899 shares in the last quarter. American Century Companies Inc. raised its position in shares of Kodiak Gas Services by 26.4% during the fourth quarter. American Century Companies Inc. now owns 939,459 shares of the company’s stock worth $38,358,000 after purchasing an additional 196,273 shares during the period. State Street Corp lifted its holdings in shares of Kodiak Gas Services by 8.7% during the 3rd quarter. State Street Corp now owns 678,925 shares of the company’s stock valued at $19,689,000 after purchasing an additional 54,202 shares in the last quarter. Finally, Augustine Asset Management Inc. grew its position in shares of Kodiak Gas Services by 1,761.2% in the 4th quarter. Augustine Asset Management Inc. now owns 640,244 shares of the company’s stock valued at $26,141,000 after purchasing an additional 605,844 shares during the period. 24.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Mizuho boosted their price objective on shares of Kodiak Gas Services from $47.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Barclays lowered their target price on Kodiak Gas Services from $44.00 to $41.00 and set an “equal weight” rating for the company in a report on Friday, March 21st. Citigroup boosted their price target on Kodiak Gas Services from $41.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, Raymond James reiterated an “outperform” rating on shares of Kodiak Gas Services in a report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.91.

Insider Buying and Selling

In related news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $47.50, for a total value of $177,112,157.50. Following the sale, the insider now owns 34,771,323 shares in the company, valued at approximately $1,651,637,842.50. This represents a 9.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is currently owned by corporate insiders.

Kodiak Gas Services Stock Down 9.9 %

NYSE:KGS opened at $31.30 on Friday. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 107.92 and a beta of 1.52. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 1.86. Kodiak Gas Services, Inc. has a twelve month low of $24.84 and a twelve month high of $50.43. The stock’s 50 day moving average price is $41.27 and its two-hundred day moving average price is $38.68.

Kodiak Gas Services (NYSE:KGS) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.15). Kodiak Gas Services had a return on equity of 7.91% and a net margin of 2.23%. The firm had revenue of $309.52 million for the quarter, compared to the consensus estimate of $323.82 million. Equities research analysts expect that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date was Friday, February 14th. Kodiak Gas Services’s payout ratio is currently 277.97%.

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.