Versor Investments LP Purchases 17,600 Shares of Kodiak Gas Services, Inc. $KGS

Versor Investments LP boosted its position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 220.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,600 shares of the company’s stock after buying an additional 17,600 shares during the quarter. Versor Investments LP’s holdings in Kodiak Gas Services were worth $877,000 as of its most recent filing with the Securities & Exchange Commission.

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

Kodiak Gas Services Stock Down 1.1%

Shares of Kodiak Gas Services stock opened at $36.90 on Monday. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.10 and a quick ratio of 0.78. The company has a 50-day moving average of $35.03 and a 200 day moving average of $34.40. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of 41.00 and a beta of 1.31. Kodiak Gas Services, Inc. has a 1 year low of $29.25 and a 1 year high of $50.43.

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

Kodiak Gas Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Monday, November 3rd will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Monday, November 3rd. This is a positive change 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 declared that its Board of Directors has initiated a stock buyback program on Monday, August 11th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

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

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.