Kayne Anderson Capital Advisors LP Invests $84.82 Million in Kodiak Gas Services, Inc. $KGS

Kayne Anderson Capital Advisors LP purchased a new stake in Kodiak Gas Services, Inc. (NYSE:KGS) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,128,985 shares of the company’s stock, valued at approximately $84,821,000. Kodiak Gas Services accounts for 1.7% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 16th largest position.

Other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in Kodiak Gas Services by 1,501.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company’s stock worth $42,000 after acquiring an additional 1,156 shares during the period. State of Wyoming boosted its stake in Kodiak Gas Services by 201.7% in the fourth quarter. State of Wyoming now owns 1,219 shares of the company’s stock valued at $46,000 after acquiring an additional 815 shares during the period. PNC Financial Services Group Inc. boosted its stake in Kodiak Gas Services by 80.4% in the third quarter. PNC Financial Services Group Inc. now owns 1,449 shares of the company’s stock valued at $54,000 after acquiring an additional 646 shares during the period. Harbor Investment Advisory LLC bought a new position in shares of Kodiak Gas Services during the second quarter valued at approximately $76,000. Finally, Hilltop National Bank bought a new position in shares of Kodiak Gas Services during the second quarter valued at approximately $102,000. Institutional investors own 24.95% of the company’s stock.

Insider Buying and Selling at Kodiak Gas Services

In other Kodiak Gas Services news, CAO Ewan William Hamilton sold 2,729 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $68.62, for a total transaction of $187,263.98. Following the sale, the chief accounting officer directly owned 31,617 shares of the company’s stock, valued at $2,169,558.54. The trade was a 7.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert Michael Mckee sold 6,008 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $62.39, for a total value of $374,839.12. Following the completion of the sale, the chief executive officer directly owned 298,589 shares of the company’s stock, valued at approximately $18,628,967.71. This trade represents a 1.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,531 shares of company stock valued at $1,296,158 over the last 90 days. 0.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on KGS shares. Citigroup upped their price objective on Kodiak Gas Services from $63.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Jefferies Financial Group reduced their price target on shares of Kodiak Gas Services from $79.00 to $69.00 and set a “buy” rating for the company in a report on Monday, August 10th. Wells Fargo & Company initiated coverage on shares of Kodiak Gas Services in a research report on Wednesday, May 27th. They set an “overweight” rating and a $93.00 price target for the company. The Goldman Sachs Group lifted their price objective on shares of Kodiak Gas Services from $69.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, Barclays reduced their target price on shares of Kodiak Gas Services from $76.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, July 8th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Kodiak Gas Services presently has an average rating of “Moderate Buy” and an average target price of $78.89.

Kodiak Gas Services Trading Up 0.5%

Shares of NYSE:KGS opened at $60.35 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.15 and a current ratio of 1.45. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 71.85, a PEG ratio of 0.87 and a beta of 0.97. Kodiak Gas Services, Inc. has a 1-year low of $32.55 and a 1-year high of $77.68. The company has a 50 day moving average price of $65.34 and a 200 day moving average price of $62.45.

Kodiak Gas Services (NYSE:KGS) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.12). Kodiak Gas Services had a net margin of 5.77% and a return on equity of 11.92%. The company had revenue of $391.12 million during the quarter, compared to the consensus estimate of $386.30 million. During the same period in the prior year, the company posted $0.43 EPS. Kodiak Gas Services’s quarterly revenue was up 21.2% on a year-over-year basis. On average, research analysts anticipate that Kodiak Gas Services, Inc. will post 2.46 EPS for the current fiscal year.

Kodiak Gas Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Monday, August 17th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.2%. Kodiak Gas Services’s payout ratio is 233.33%.

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