Manatuck Hill Partners LLC Purchases Shares of 20,000 Kodiak Gas Services, Inc. $KGS

Manatuck Hill Partners LLC purchased a new position in Kodiak Gas Services, Inc. (NYSE:KGS) during the 2nd quarter, Holdings Channel reports. The firm purchased 20,000 shares of the company’s stock, valued at approximately $1,503,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Advisors Preferred LLC acquired a new position in shares of Kodiak Gas Services in the second quarter valued at $1,986,000. Crown Advisors Management Inc. bought a new position in Kodiak Gas Services in the second quarter worth $4,508,000. Charles Schwab Investment Management Inc. boosted its stake in Kodiak Gas Services by 29.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 901,406 shares of the company’s stock worth $33,713,000 after buying an additional 203,809 shares in the last quarter. HighTower Advisors LLC boosted its stake in Kodiak Gas Services by 40.5% during the fourth quarter. HighTower Advisors LLC now owns 57,699 shares of the company’s stock worth $2,158,000 after buying an additional 16,619 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Kodiak Gas Services by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,105,555 shares of the company’s stock valued at $181,108,000 after buying an additional 135,998 shares during the period. Institutional investors own 24.95% of the company’s stock.

Insider Buying and Selling

In other news, COO William Chad Lenamon sold 1,000 shares of the firm’s stock in a transaction on Monday, July 13th. The stock was sold at an average price of $67.79, for a total value of $67,790.00. Following the completion of the sale, the chief operating officer directly owned 87,294 shares in the company, valued at approximately $5,917,660.26. This trade represents a 1.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Pedro R. Buhigas sold 4,625 shares of Kodiak Gas Services stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $67.78, for a total value of $313,482.50. Following the completion of the transaction, the insider directly owned 38,454 shares of the company’s stock, valued at $2,606,412.12. This represents a 10.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 19,531 shares of company stock valued at $1,296,158. Insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Zacks Research upgraded shares of Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Piper Sandler initiated coverage on shares of Kodiak Gas Services in a research report on Tuesday, July 28th. They issued an “overweight” rating and a $78.00 price target for the company. Royal Bank Of Canada raised their price target on shares of Kodiak Gas Services from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. Jefferies Financial Group decreased their price objective on Kodiak Gas Services from $79.00 to $69.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Finally, Citigroup increased their target price on Kodiak Gas Services from $63.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $78.89.

Kodiak Gas Services Stock Performance

NYSE KGS opened at $58.95 on Wednesday. Kodiak Gas Services, Inc. has a 1-year low of $32.55 and a 1-year high of $77.68. The company has a 50 day moving average of $64.81 and a 200-day moving average of $62.83. 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 firm has a market cap of $5.96 billion, a price-to-earnings ratio of 70.18, a PEG ratio of 0.86 and a beta of 0.97.

Kodiak Gas Services (NYSE:KGS) last announced its 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 business had revenue of $391.12 million during the quarter, compared to analyst estimates of $386.30 million. Kodiak Gas Services had a return on equity of 11.92% and a net margin of 5.77%.The firm’s revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 earnings per share. On average, equities analysts forecast that Kodiak Gas Services, Inc. will post 2.46 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Monday, August 17th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.96 dividend on an annualized basis and a yield of 3.3%. Kodiak Gas Services’s payout ratio is currently 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.