Kodiak Gas Services, Inc. $KGS Shares Purchased by Ethic Inc.

Ethic Inc. boosted its holdings in Kodiak Gas Services, Inc. (NYSE:KGS) by 53.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,496 shares of the company’s stock after buying an additional 4,328 shares during the period. Ethic Inc.’s holdings in Kodiak Gas Services were worth $425,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Kodiak Gas Services in the 1st quarter worth about $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Kodiak Gas Services in the 1st quarter valued at about $37,000. Salem Investment Counselors Inc. acquired a new position in shares of Kodiak Gas Services in the 2nd quarter valued at about $51,000. Amalgamated Bank lifted its stake in shares of Kodiak Gas Services by 40.0% in the 1st quarter. Amalgamated Bank now owns 1,554 shares of the company’s stock valued at $58,000 after purchasing an additional 444 shares in the last quarter. Finally, Covestor Ltd lifted its stake in shares of Kodiak Gas Services by 33,700.0% in the 1st quarter. Covestor Ltd now owns 1,690 shares of the company’s stock valued at $63,000 after purchasing an additional 1,685 shares in the last quarter. 24.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Zacks Research raised Kodiak Gas Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. Mizuho lifted their price objective on Kodiak Gas Services from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. Royal Bank Of Canada lifted their price objective on Kodiak Gas Services from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Wednesday, August 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Kodiak Gas Services in a research note on Wednesday, October 8th. Finally, Barclays reduced their price objective on Kodiak Gas Services from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $43.25.

Kodiak Gas Services Stock Performance

Shares of NYSE:KGS opened at $36.20 on Thursday. The company has a market cap of $3.14 billion, a P/E ratio of 40.23 and a beta of 1.32. 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 one year low of $29.25 and a one year high of $50.43. The business’s 50-day simple moving average is $34.98 and its 200 day simple moving average is $34.34.

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

Kodiak Gas Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Monday, November 3rd will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Monday, November 3rd. This is an increase from Kodiak Gas Services’s previous quarterly dividend of $0.45. Kodiak Gas Services’s dividend payout ratio (DPR) is 200.00%.

Kodiak Gas Services announced that its Board of Directors has approved a stock repurchase plan on Monday, August 11th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

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.