Kodiak Gas Services, Inc. (NYSE:KGS) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in Kodiak Gas Services, Inc. (NYSE:KGS) by 13.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 443,666 shares of the company’s stock after acquiring an additional 52,522 shares during the period. Bank of New York Mellon Corp owned approximately 0.50% of Kodiak Gas Services worth $16,549,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of KGS. Charles Schwab Investment Management Inc. raised its stake in Kodiak Gas Services by 56.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 309,679 shares of the company’s stock valued at $12,644,000 after buying an additional 111,269 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Kodiak Gas Services during the fourth quarter worth about $276,000. Swiss National Bank increased its position in shares of Kodiak Gas Services by 16.4% during the fourth quarter. Swiss National Bank now owns 57,500 shares of the company’s stock worth $2,348,000 after purchasing an additional 8,100 shares in the last quarter. Quantbot Technologies LP grew its holdings in shares of Kodiak Gas Services by 8.2% during the fourth quarter. Quantbot Technologies LP now owns 58,822 shares of the company’s stock worth $2,402,000 after buying an additional 4,482 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in Kodiak Gas Services during the 4th quarter worth approximately $222,000. 24.95% of the stock is currently owned by institutional investors and hedge funds.

Kodiak Gas Services Trading Up 2.1%

KGS stock opened at $32.30 on Friday. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 60.94 and a beta of 1.35. The company has a quick ratio of 0.87, a current ratio of 1.17 and a debt-to-equity ratio of 1.91. The business has a fifty day simple moving average of $34.36 and a 200-day simple moving average of $37.94. Kodiak Gas Services, Inc. has a 52 week low of $24.84 and a 52 week high of $50.43.

Kodiak Gas Services (NYSE:KGS) last announced 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. Kodiak Gas Services had a return on equity of 8.49% and a net margin of 3.93%. The firm had revenue of $329.64 million during the quarter, compared to the consensus estimate of $328.45 million. During the same period in the prior year, the firm earned $0.39 EPS. The firm’s quarterly revenue was up 52.9% compared to the same quarter last year. On average, equities research analysts expect that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a $0.45 dividend. This is a boost from Kodiak Gas Services’s previous quarterly dividend of $0.41. This represents a $1.80 dividend on an annualized basis and a yield of 5.57%. The ex-dividend date of this dividend was Monday, May 5th. Kodiak Gas Services’s dividend payout ratio is presently 339.62%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on KGS shares. Mizuho lowered 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. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $43.00 target price (up previously from $42.00) on shares of Kodiak Gas Services in a research note on Monday, June 23rd. Finally, Barclays reduced their target price on 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. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.64.

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.