Kodiak Gas Services, Inc. (NYSE:KGS) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System boosted its position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 62.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,775 shares of the company’s stock after buying an additional 5,293 shares during the period. Arizona State Retirement System’s holdings in Kodiak Gas Services were worth $514,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of KGS. Amalgamated Bank raised its holdings in Kodiak Gas Services by 40.0% during the first quarter. Amalgamated Bank now owns 1,554 shares of the company’s stock worth $58,000 after purchasing an additional 444 shares during the last quarter. United Advisor Group LLC raised its holdings in shares of Kodiak Gas Services by 4.4% in the fourth quarter. United Advisor Group LLC now owns 12,281 shares of the company’s stock worth $501,000 after acquiring an additional 519 shares during the last quarter. Comerica Bank increased its stake in Kodiak Gas Services by 710.1% in the fourth quarter. Comerica Bank now owns 721 shares of the company’s stock valued at $29,000 after purchasing an additional 632 shares during the last quarter. Sterling Capital Management LLC increased its stake in Kodiak Gas Services by 1,322.6% in the fourth quarter. Sterling Capital Management LLC now owns 754 shares of the company’s stock valued at $31,000 after purchasing an additional 701 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in Kodiak Gas Services by 6.9% in the fourth quarter. Stifel Financial Corp now owns 15,655 shares of the company’s stock valued at $639,000 after purchasing an additional 1,007 shares during the last quarter. 24.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on KGS shares. JPMorgan Chase & Co. reissued a “buy” rating and issued a $43.00 price target (up previously from $42.00) on shares of Kodiak Gas Services in a report on Monday, June 23rd. Mizuho reduced their price target on Kodiak Gas Services from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday, May 20th. Finally, Barclays decreased their price objective on Kodiak Gas Services from $41.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.64.

Kodiak Gas Services Trading Down 2.4%

Shares of KGS stock opened at $31.53 on Tuesday. The company has a 50 day moving average of $34.36 and a 200-day moving average of $37.89. The company has a quick ratio of 0.87, a current ratio of 1.17 and a debt-to-equity ratio of 1.91. Kodiak Gas Services, Inc. has a 12-month low of $24.84 and a 12-month high of $50.43. The firm has a market cap of $2.80 billion, a P/E ratio of 59.48 and a beta of 1.35.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The business had revenue of $329.64 million during the quarter, compared to analyst estimates of $328.45 million. Kodiak Gas Services had a net margin of 3.93% and a return on equity of 8.49%. Kodiak Gas Services’s revenue was up 52.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS. Sell-side analysts anticipate that Kodiak Gas Services, Inc. will post 1.12 earnings per share 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. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.71%. Kodiak Gas Services’s payout ratio is presently 339.62%.

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.