12,860 Shares in Kodiak Gas Services, Inc. $KGS Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. purchased a new stake in Kodiak Gas Services, Inc. (NYSE:KGS) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 12,860 shares of the company’s stock, valued at approximately $681,000.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Kodiak Gas Services during the 2nd quarter worth $1,142,139,000. Bank of America Corp DE purchased a new stake in shares of Kodiak Gas Services in the 2nd quarter worth $109,850,000. Kayne Anderson Capital Advisors LP purchased a new stake in shares of Kodiak Gas Services in the 2nd quarter worth $84,821,000. Wellington Management Group LLP lifted its holdings in shares of Kodiak Gas Services by 85.0% in the 2nd quarter. Wellington Management Group LLP now owns 2,432,174 shares of the company’s stock worth $182,729,000 after buying an additional 1,117,743 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of Kodiak Gas Services during the 2nd quarter worth $73,623,000. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Insider Activity at Kodiak Gas Services

In related news, CEO Robert McKee sold 2,666 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $45.55, for a total transaction of $121,436.30. Following the sale, the chief executive officer owned 287,258 shares of the company’s stock, valued at $13,084,601.90. This trade represents a 0.92% 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, insider Pedro Buhigas sold 3,663 shares of Kodiak Gas Services stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $58.14, for a total value of $212,966.82. Following the completion of the transaction, the insider owned 32,413 shares in the company, valued at $1,884,491.82. This trade represents a 10.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 23,002 shares of company stock valued at $1,325,334 over the last quarter. 0.64% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KGS. Piper Sandler started coverage on Kodiak Gas Services in a report on Tuesday, July 28th. They issued an “overweight” rating and a $78.00 price objective for the company. UBS Group reiterated a “buy” rating on shares of Kodiak Gas Services in a report on Friday, October 16th. Jefferies Financial Group cut their target price on shares of Kodiak Gas Services from $69.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Citigroup reduced their price target on shares of Kodiak Gas Services from $86.00 to $82.00 and set a “buy” rating for the company in a report on Friday, October 9th. Finally, Royal Bank Of Canada lowered their price target on shares of Kodiak Gas Services from $88.00 to $82.00 and set an “outperform” rating for the company in a research report on Friday, October 16th. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $79.18.

Kodiak Gas Services Stock Down 11.5%

Shares of NYSE KGS opened at $41.21 on Thursday. Kodiak Gas Services, Inc. has a 12-month low of $32.55 and a 12-month high of $77.68. The stock’s fifty day simple moving average is $53.66 and its two-hundred day simple moving average is $59.07. The stock has a market capitalization of $4.18 billion, a PE ratio of 49.06 and a beta of 1.07. The company has a current ratio of 1.45, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.12). The company 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 was up 21.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 earnings per share. As a group, analysts expect that Kodiak Gas Services, Inc. will post 2.43 EPS for the current fiscal year.

Kodiak Gas Services Company Profile

Kodiak Gas Services, Inc (NYSE: KGS) provides contract compression and related infrastructure services to the North American oil and gas industry. The company helps producers and midstream operators move natural gas through gathering systems, processing facilities and pipelines by supplying compression equipment and operating it under long-term service arrangements.

Its services include the design, installation, operation and maintenance of natural gas compression systems. Kodiak owns and manages a fleet of compression units that can be deployed across a range of applications, including natural gas gathering and processing.