Great Lakes Advisors LLC Purchases New Position in Kodiak Gas Services, Inc. $KGS

Great Lakes Advisors LLC purchased a new stake in Kodiak Gas Services, Inc. (NYSE:KGS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,315 shares of the company’s stock, valued at approximately $1,000,000.

Several other hedge funds have also bought and sold shares of KGS. Van ECK Associates Corp increased its holdings in shares of Kodiak Gas Services by 0.9% during the 4th quarter. Van ECK Associates Corp now owns 23,640 shares of the company’s stock valued at $884,000 after purchasing an additional 209 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Kodiak Gas Services by 29.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,545 shares of the company’s stock worth $90,000 after buying an additional 352 shares in the last quarter. Comerica Bank boosted its holdings in Kodiak Gas Services by 1.8% during the fourth quarter. Comerica Bank now owns 20,499 shares of the company’s stock worth $767,000 after buying an additional 357 shares in the last quarter. Aurora Investment Counsel boosted its holdings in Kodiak Gas Services by 0.6% during the fourth quarter. Aurora Investment Counsel now owns 67,192 shares of the company’s stock worth $2,513,000 after buying an additional 397 shares in the last quarter. Finally, Captrust Financial Advisors grew its position in Kodiak Gas Services by 2.7% during the second quarter. Captrust Financial Advisors now owns 16,925 shares of the company’s stock valued at $580,000 after buying an additional 448 shares during the period. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Kodiak Gas Services Stock Up 1.1%

KGS stock opened at $61.28 on Friday. Kodiak Gas Services, Inc. has a 52 week low of $32.55 and a 52 week high of $77.68. The company has a quick ratio of 1.15, a current ratio of 1.45 and a debt-to-equity ratio of 1.28. The firm has a 50-day simple moving average of $65.19 and a 200-day simple moving average of $62.44. The stock has a market capitalization of $6.20 billion, a P/E ratio of 72.95, a P/E/G ratio of 0.89 and a beta of 0.97.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $386.30 million. During the same period in the prior year, the business posted $0.43 earnings per share. The company’s quarterly revenue was up 21.2% compared to the same quarter last year. Equities analysts forecast that Kodiak Gas Services, Inc. will post 2.46 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

The company 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 $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Monday, August 17th. Kodiak Gas Services’s dividend payout ratio (DPR) is 233.33%.

Analysts Set New Price Targets

KGS has been the subject of a number of recent analyst reports. Zacks Research raised shares of Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Stifel Nicolaus increased their target price on shares of Kodiak Gas Services from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Wells Fargo & Company began coverage on Kodiak Gas Services in a research report on Wednesday, May 27th. They set an “overweight” rating and a $93.00 target price on the stock. Citigroup lifted their price target on Kodiak Gas Services from $63.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Finally, Jefferies Financial Group reduced their price target on Kodiak Gas Services from $79.00 to $69.00 and set a “buy” rating for the company in a report on Monday, August 10th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Kodiak Gas Services presently has a consensus rating of “Moderate Buy” and an average target price of $78.89.

Insiders Place Their Bets

In other news, CAO Ewan William Hamilton sold 2,729 shares of Kodiak Gas Services stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $68.62, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO William Chad Lenamon sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $67.79, for a total value of $67,790.00. Following the sale, the chief operating officer owned 87,294 shares of the company’s stock, valued at $5,917,660.26. The trade was a 1.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 19,531 shares of company stock valued at $1,296,158. 0.64% of the stock is owned by corporate 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. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings.