Ellevest Inc. Takes $228,000 Position in Kodiak Gas Services, Inc. $KGS

Ellevest Inc. acquired a new position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) in the second quarter, HoldingsChannel reports. The firm acquired 6,662 shares of the company’s stock, valued at approximately $228,000.

Several other institutional investors have also recently added to or reduced their stakes in KGS. Bank of New York Mellon Corp lifted its holdings in Kodiak Gas Services by 4.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 465,229 shares of the company’s stock valued at $15,943,000 after purchasing an additional 21,563 shares in the last quarter. Versor Investments LP lifted its stake in shares of Kodiak Gas Services by 220.0% during the second quarter. Versor Investments LP now owns 25,600 shares of the company’s stock valued at $877,000 after buying an additional 17,600 shares during the period. Crown Advisors Management Inc. acquired a new stake in Kodiak Gas Services during the second quarter worth approximately $1,713,000. Y Intercept Hong Kong Ltd grew its stake in Kodiak Gas Services by 40.2% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 47,604 shares of the company’s stock worth $1,631,000 after acquiring an additional 13,655 shares during the period. Finally, Ethic Inc. lifted its stake in shares of Kodiak Gas Services by 53.0% during the 2nd quarter. Ethic Inc. now owns 12,496 shares of the company’s stock worth $425,000 after purchasing an additional 4,328 shares during the period. Institutional investors and hedge funds own 24.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KGS. Zacks Research upgraded Kodiak Gas Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Royal Bank Of Canada boosted their price objective on shares of Kodiak Gas Services from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Wednesday, August 13th. Stifel Nicolaus set a $48.00 target price on Kodiak Gas Services in a research report on Thursday. Weiss Ratings restated a “buy (b-)” rating on shares of Kodiak Gas Services in a report on Wednesday, October 8th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $43.78.

Kodiak Gas Services Stock Down 0.0%

NYSE KGS opened at $33.90 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.10 and a debt-to-equity ratio of 1.89. Kodiak Gas Services, Inc. has a fifty-two week low of $29.25 and a fifty-two week high of $50.43. The business has a 50 day moving average price of $35.04 and a two-hundred day moving average price of $34.42. The stock has a market cap of $2.94 billion, a PE ratio of 42.38 and a beta of 1.31.

Kodiak Gas Services (NYSE:KGS) last announced its earnings results on Tuesday, November 4th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.14). Kodiak Gas Services had a net margin of 5.84% and a return on equity of 10.17%. The firm had revenue of $322.74 million during the quarter, compared to analysts’ expectations of $328.23 million. During the same quarter last year, the company posted ($0.07) earnings per share. Kodiak Gas Services’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side analysts predict that Kodiak Gas Services, Inc. will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services announced that its board has initiated a stock repurchase program on Monday, August 11th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 1.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

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 issued a $0.49 dividend. This is an increase from Kodiak Gas Services’s previous quarterly dividend of $0.45. This represents a $1.96 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Monday, November 3rd. Kodiak Gas Services’s dividend payout ratio (DPR) is currently 245.00%.

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.