Kodiak Gas Services, Inc. (NYSE:KGS) Shares Sold by Pier Capital LLC

Pier Capital LLC cut its stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 1.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 231,985 shares of the company’s stock after selling 3,618 shares during the period. Kodiak Gas Services comprises about 1.4% of Pier Capital LLC’s holdings, making the stock its 20th biggest holding. Pier Capital LLC owned 0.26% of Kodiak Gas Services worth $9,472,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sheets Smith Investment Management purchased a new stake in shares of Kodiak Gas Services during the fourth quarter worth about $1,326,000. Corebridge Financial Inc. increased its stake in Kodiak Gas Services by 50.2% during the 4th quarter. Corebridge Financial Inc. now owns 16,186 shares of the company’s stock worth $661,000 after buying an additional 5,409 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Kodiak Gas Services by 52.3% during the fourth quarter. Vanguard Group Inc. now owns 2,659,015 shares of the company’s stock valued at $108,568,000 after acquiring an additional 913,104 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Kodiak Gas Services in the fourth quarter valued at approximately $803,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Kodiak Gas Services in the fourth quarter worth approximately $233,000. 24.95% of the stock is owned by hedge funds and other institutional investors.

Kodiak Gas Services Price Performance

NYSE:KGS opened at $39.23 on Tuesday. Kodiak Gas Services, Inc. has a 52 week low of $24.84 and a 52 week high of $50.43. The stock’s fifty day moving average is $43.23 and its two-hundred day moving average is $38.11. The company has a market capitalization of $3.48 billion, a P/E ratio of 135.26 and a beta of 1.30. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 1.86.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.15). The company had revenue of $309.52 million during the quarter, compared to analysts’ expectations of $323.82 million. Kodiak Gas Services had a net margin of 2.23% and a return on equity of 7.91%. Equities analysts expect that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were given a dividend of $0.41 per share. The ex-dividend date was Friday, February 14th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.18%. Kodiak Gas Services’s payout ratio is currently 277.97%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on KGS shares. Raymond James restated an “outperform” rating on shares of Kodiak Gas Services in a report on Friday, March 7th. Barclays decreased their price target on shares of Kodiak Gas Services from $44.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Friday. Mizuho upped their price objective on shares of Kodiak Gas Services from $47.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Truist Financial raised their target price on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Finally, Citigroup upped their price target on Kodiak Gas Services from $41.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Kodiak Gas Services has a consensus rating of “Moderate Buy” and a consensus target price of $41.91.

Insider Activity at Kodiak Gas Services

In related news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $47.50, for a total transaction of $177,112,157.50. Following the completion of the transaction, the insider now directly owns 34,771,323 shares in the company, valued at $1,651,637,842.50. This trade represents a 9.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.18% of the stock is owned by insiders.

Kodiak Gas Services Company 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.