Exchange Traded Concepts LLC Lowers Stock Position in Kodiak Gas Services, Inc. $KGS

Exchange Traded Concepts LLC lowered its position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,149 shares of the company’s stock after selling 1,089 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Kodiak Gas Services were worth $1,444,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in KGS. Quarry LP bought a new position in Kodiak Gas Services in the 1st quarter worth about $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Kodiak Gas Services in the 1st quarter worth about $37,000. Salem Investment Counselors Inc. bought a new position in Kodiak Gas Services in the 2nd quarter worth about $51,000. State of Wyoming bought a new position in Kodiak Gas Services in the 4th quarter worth about $57,000. Finally, Amalgamated Bank boosted its stake in Kodiak Gas Services by 40.0% in the 1st quarter. Amalgamated Bank now owns 1,554 shares of the company’s stock worth $58,000 after purchasing an additional 444 shares in the last quarter. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Kodiak Gas Services Stock Performance

NYSE:KGS opened at $33.89 on Tuesday. The stock’s fifty day moving average is $33.60 and its 200 day moving average is $34.40. The firm has a market capitalization of $2.94 billion, a PE ratio of 37.66 and a beta of 1.34. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.78 and a current ratio of 1.10. Kodiak Gas Services, Inc. has a fifty-two week low of $28.37 and a fifty-two week high of $50.43.

Kodiak Gas Services (NYSE:KGS) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. Kodiak Gas Services had a return on equity of 10.35% and a net margin of 6.48%.The company had revenue of $322.84 million for the quarter, compared to the consensus estimate of $335.10 million. During the same quarter in the prior year, the company posted $0.06 EPS. Kodiak Gas Services’s quarterly revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts anticipate that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current year.

Kodiak Gas Services declared that its board has initiated a share repurchase program on Monday, August 11th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 1.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Kodiak Gas Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 4th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.3%. Kodiak Gas Services’s dividend payout ratio is presently 200.00%.

Wall Street Analyst Weigh In

KGS has been the topic of a number of analyst reports. Royal Bank Of Canada upped their price target on shares of Kodiak Gas Services from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $43.00 target price (up previously from $42.00) on shares of Kodiak Gas Services in a research report on Monday, June 23rd. Barclays boosted their target price on Kodiak Gas Services from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 14th. Zacks Research lowered Kodiak Gas Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 10th. Finally, Mizuho boosted their target price on Kodiak Gas Services from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $43.50.

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.