Rhumbline Advisers Purchases 16,408 Shares of Kodiak Gas Services, Inc. (NYSE:KGS)

Rhumbline Advisers lifted its position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 37.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,450 shares of the company’s stock after acquiring an additional 16,408 shares during the period. Rhumbline Advisers owned approximately 0.07% of Kodiak Gas Services worth $2,255,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in KGS. Principal Financial Group Inc. boosted its position in shares of Kodiak Gas Services by 14.2% during the 4th quarter. Principal Financial Group Inc. now owns 24,013 shares of the company’s stock worth $980,000 after acquiring an additional 2,993 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Kodiak Gas Services in the 4th quarter valued at $233,000. Transcendent Capital Group LLC acquired a new stake in Kodiak Gas Services in the fourth quarter valued at about $49,000. Amalgamated Bank boosted its stake in Kodiak Gas Services by 112.6% in the fourth quarter. Amalgamated Bank now owns 1,110 shares of the company’s stock valued at $45,000 after buying an additional 588 shares in the last quarter. Finally, Bailard Inc. acquired a new stake in Kodiak Gas Services in the fourth quarter valued at about $363,000. Institutional investors and hedge funds own 24.95% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on KGS shares. Barclays reduced their price target on shares of Kodiak Gas Services from $41.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Raymond James restated an “outperform” rating on shares of Kodiak Gas Services in a research report on Friday, March 7th. Royal Bank of Canada set a $45.00 target price on shares of Kodiak Gas Services and gave the company an “outperform” rating in a research report on Tuesday, March 11th. Truist Financial raised their target price on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Finally, Mizuho cut their price objective on Kodiak Gas Services from $46.00 to $45.00 and set an “outperform” rating on the stock in a report on Tuesday, May 20th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.55.

Kodiak Gas Services Price Performance

KGS stock opened at $33.65 on Tuesday. The company has a fifty day moving average price of $34.72 and a 200-day moving average price of $39.15. The company has a market capitalization of $2.98 billion, a P/E ratio of 116.04 and a beta of 1.48. Kodiak Gas Services, Inc. has a 52-week low of $24.84 and a 52-week high of $50.43. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.93 and a current ratio of 1.27.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.03. The firm had revenue of $329.64 million during the quarter, compared to the consensus estimate of $328.45 million. Kodiak Gas Services had a net margin of 2.23% and a return on equity of 7.91%. The company’s revenue for the quarter was up 52.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 earnings per share. As a group, equities analysts expect that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.80 annualized dividend and a dividend yield of 5.35%. This is an increase from Kodiak Gas Services’s previous quarterly dividend of $0.41. Kodiak Gas Services’s dividend payout ratio (DPR) is presently 339.62%.

About Kodiak Gas Services

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.