Van ECK Associates Corp Boosts Stock Position in Kodiak Gas Services, Inc. $KGS

Van ECK Associates Corp lifted its stake in Kodiak Gas Services, Inc. (NYSE:KGS) by 151.1% in the second quarter, Holdings Channel.com reports. The fund owned 98,146 shares of the company’s stock after purchasing an additional 59,062 shares during the period. Van ECK Associates Corp’s holdings in Kodiak Gas Services were worth $7,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new stake in shares of Kodiak Gas Services during the 2nd quarter valued at $29,000. EverSource Wealth Advisors LLC lifted its holdings in Kodiak Gas Services by 1,501.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company’s stock worth $42,000 after purchasing an additional 1,156 shares in the last quarter. State of Wyoming boosted its stake in Kodiak Gas Services by 201.7% in the 4th quarter. State of Wyoming now owns 1,219 shares of the company’s stock worth $46,000 after purchasing an additional 815 shares during the period. PNC Financial Services Group Inc. boosted its stake in Kodiak Gas Services by 80.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,449 shares of the company’s stock worth $54,000 after purchasing an additional 646 shares during the period. Finally, Harbor Investment Advisory LLC purchased a new position in Kodiak Gas Services during the 2nd quarter valued at about $76,000. 24.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Robert Michael Mckee sold 6,008 shares of Kodiak Gas Services stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $62.39, for a total transaction of $374,839.12. Following the completion of the sale, the chief executive officer directly owned 298,589 shares of the company’s stock, valued at approximately $18,628,967.71. The trade was a 1.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Pedro R. Buhigas sold 4,625 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $67.78, for a total transaction of $313,482.50. Following the completion of the transaction, the insider owned 38,454 shares of the company’s stock, valued at $2,606,412.12. This trade represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 19,531 shares of company stock worth $1,296,158. 0.64% of the stock is owned by corporate insiders.

Kodiak Gas Services Stock Performance

Shares of KGS opened at $59.62 on Wednesday. The company has a market cap of $6.03 billion, a PE ratio of 70.98, a price-to-earnings-growth ratio of 0.86 and a beta of 0.98. 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 stock has a 50-day moving average price of $63.80 and a 200-day moving average price of $63.15. Kodiak Gas Services, Inc. has a 12-month low of $32.55 and a 12-month high of $77.68.

Kodiak Gas Services (NYSE:KGS) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.55 earnings per share 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 firm’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter last year, the company posted $0.43 earnings per share. As a group, equities analysts forecast that Kodiak Gas Services, Inc. will post 2.44 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

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

Wall Street Analyst Weigh In

KGS has been the topic of several analyst reports. 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 price target on the stock. Royal Bank Of Canada boosted their price objective on shares of Kodiak Gas Services from $84.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, August 13th. Wells Fargo & Company began coverage on shares of Kodiak Gas Services in a report on Wednesday, May 27th. They set an “overweight” rating and a $93.00 target price on the stock. The Goldman Sachs Group increased their target price on shares of 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 for the company in a report on Monday, August 10th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $78.89.

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.