New York State Common Retirement Fund Grows Position in Kodiak Gas Services, Inc. (NYSE:KGS)

New York State Common Retirement Fund grew its stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 81.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,034 shares of the company’s stock after purchasing an additional 6,300 shares during the quarter. New York State Common Retirement Fund’s holdings in Kodiak Gas Services were worth $523,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Comerica Bank raised its holdings in shares of Kodiak Gas Services by 710.1% during the fourth quarter. Comerica Bank now owns 721 shares of the company’s stock valued at $29,000 after acquiring an additional 632 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of Kodiak Gas Services by 1,322.6% during the fourth quarter. Sterling Capital Management LLC now owns 754 shares of the company’s stock valued at $31,000 after acquiring an additional 701 shares in the last quarter. State of Wyoming bought a new position in shares of Kodiak Gas Services during the fourth quarter valued at approximately $57,000. Amalgamated Bank raised its holdings in shares of Kodiak Gas Services by 40.0% during the first quarter. Amalgamated Bank now owns 1,554 shares of the company’s stock valued at $58,000 after acquiring an additional 444 shares in the last quarter. Finally, KBC Group NV bought a new position in shares of Kodiak Gas Services during the first quarter valued at approximately $116,000. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on KGS shares. JPMorgan Chase & Co. restated a “buy” rating and set a $43.00 target price (up previously from $42.00) on shares of Kodiak Gas Services in a report on Monday, June 23rd. Mizuho decreased their target price on Kodiak Gas Services from $46.00 to $45.00 and set an “outperform” rating for the company in a report on Tuesday, May 20th. Finally, Barclays decreased their target price on Kodiak Gas Services from $41.00 to $36.00 and set an “equal weight” rating for the company 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 data from MarketBeat, Kodiak Gas Services currently has a consensus rating of “Moderate Buy” and an average target price of $40.64.

Kodiak Gas Services Trading Down 1.7%

Kodiak Gas Services stock opened at $31.28 on Friday. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.17 and a quick ratio of 0.87. Kodiak Gas Services, Inc. has a one year low of $24.83 and a one year high of $50.43. The stock has a market capitalization of $2.77 billion, a PE ratio of 59.01 and a beta of 1.35. The business’s fifty day moving average is $33.91 and its 200 day moving average is $37.56.

Kodiak Gas Services (NYSE:KGS) last announced its earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.03. The business had revenue of $329.64 million for the quarter, compared to analysts’ expectations of $328.45 million. Kodiak Gas Services had a return on equity of 8.49% and a net margin of 3.93%. The business’s revenue for the quarter was up 52.9% on a year-over-year basis. During the same period last year, the firm posted $0.39 earnings per share. On average, sell-side analysts predict that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 4th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.76%. The ex-dividend date is Monday, August 4th. Kodiak Gas Services’s dividend payout ratio (DPR) 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.