Kodiak Gas Services, Inc. $KGS Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp grew its stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 3,567.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,263 shares of the company’s stock after buying an additional 21,656 shares during the quarter. Fifth Third Bancorp’s holdings in Kodiak Gas Services were worth $1,298,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in KGS. Vanguard Group Inc. increased its stake in shares of Kodiak Gas Services by 33.8% during the fourth quarter. Vanguard Group Inc. now owns 6,170,360 shares of the company’s stock valued at $230,771,000 after acquiring an additional 1,559,172 shares during the period. Invesco Ltd. boosted its stake in Kodiak Gas Services by 29.5% during the 3rd quarter. Invesco Ltd. now owns 6,305,789 shares of the company’s stock valued at $233,125,000 after purchasing an additional 1,436,443 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Kodiak Gas Services by 3,046.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,471,663 shares of the company’s stock valued at $55,040,000 after purchasing an additional 1,424,888 shares during the period. Zimmer Partners LP raised its stake in shares of Kodiak Gas Services by 45.7% in the 4th quarter. Zimmer Partners LP now owns 4,271,553 shares of the company’s stock worth $159,756,000 after buying an additional 1,339,849 shares in the last quarter. Finally, Eagle Global Advisors LLC acquired a new stake in shares of Kodiak Gas Services in the fourth quarter valued at $39,741,000. 24.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Kodiak Gas Services news, EVP Cory Anne Roclawski sold 4,169 shares of Kodiak Gas Services stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $68.36, for a total value of $284,992.84. Following the transaction, the executive vice president directly owned 24,662 shares of the company’s stock, valued at $1,685,894.32. The trade was a 14.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Pedro R. Buhigas sold 4,625 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $67.78, for a total value of $313,482.50. Following the transaction, the insider owned 38,454 shares of the company’s stock, valued at approximately $2,606,412.12. This trade represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 13,523 shares of company stock worth $921,319. 0.64% of the stock is currently owned by company insiders.

Kodiak Gas Services Price Performance

NYSE KGS opened at $58.90 on Friday. Kodiak Gas Services, Inc. has a fifty-two week low of $30.06 and a fifty-two week high of $77.68. The stock’s 50-day moving average is $69.05 and its two-hundred day moving average is $59.40. The firm has a market cap of $5.23 billion, a P/E ratio of 79.59, a price-to-earnings-growth ratio of 1.02 and a beta of 0.89. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.28 and a quick ratio of 0.99.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings results on Monday, May 11th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.05. Kodiak Gas Services had a return on equity of 13.12% and a net margin of 5.13%.The company had revenue of $345.76 million during the quarter, compared to the consensus estimate of $340.23 million. During the same quarter in the prior year, the company posted $0.33 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. On average, analysts anticipate that Kodiak Gas Services, Inc. will post 2.27 earnings per share for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Monday, May 18th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.3%. The ex-dividend date was Monday, May 18th. Kodiak Gas Services’s dividend payout ratio (DPR) is 264.86%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Royal Bank Of Canada lifted their target price on Kodiak Gas Services from $64.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, May 18th. Wells Fargo & Company began coverage on shares of Kodiak Gas Services in a research note on Wednesday, May 27th. They issued an “overweight” rating and a $93.00 price objective on the stock. Zacks Research raised shares of Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group lifted their price target on shares of Kodiak Gas Services from $69.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, Barclays cut their price objective on Kodiak Gas Services from $76.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, July 8th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Kodiak Gas Services presently has an average rating of “Moderate Buy” and an average price target of $79.50.

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. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings.