Deprince Race & Zollo Inc. Trims Stake in Kodiak Gas Services, Inc. $KGS

Deprince Race & Zollo Inc. cut its position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 11.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 901,371 shares of the company’s stock after selling 121,577 shares during the period. Deprince Race & Zollo Inc.’s holdings in Kodiak Gas Services were worth $52,568,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Invesco Ltd. increased its stake in shares of Kodiak Gas Services by 20.4% during the fourth quarter. Invesco Ltd. now owns 7,593,274 shares of the company’s stock valued at $283,988,000 after buying an additional 1,287,485 shares during the period. Vanguard Group Inc. raised its holdings in shares of Kodiak Gas Services by 33.8% in the fourth quarter. Vanguard Group Inc. now owns 6,170,360 shares of the company’s stock valued at $230,771,000 after acquiring an additional 1,559,172 shares in the last quarter. Zimmer Partners LP lifted its stake in Kodiak Gas Services by 45.7% in the fourth quarter. Zimmer Partners LP now owns 4,271,553 shares of the company’s stock worth $159,756,000 after acquiring an additional 1,339,849 shares during the period. State Street Corp lifted its stake in Kodiak Gas Services by 31.8% in the fourth quarter. State Street Corp now owns 3,340,008 shares of the company’s stock worth $124,916,000 after acquiring an additional 806,191 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Kodiak Gas Services by 14.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,969,557 shares of the company’s stock worth $111,061,000 after acquiring an additional 376,524 shares in the last quarter. 24.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Pedro R. Buhigas sold 4,625 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $67.78, for a total value of $313,482.50. Following the completion of the sale, the insider owned 38,454 shares of the company’s stock, valued at $2,606,412.12. This trade represents a 10.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO William Chad Lenamon sold 1,000 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $67.79, for a total value of $67,790.00. Following the transaction, the chief operating officer owned 90,918 shares in the company, valued at approximately $6,163,331.22. This trade represents a 1.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 8,354 shares of company stock worth $568,536. Insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

KGS has been the topic of a number of research reports. Stifel Nicolaus set a $84.00 target price on shares of Kodiak Gas Services in a research report on Tuesday, May 12th. Wells Fargo & Company began coverage on shares of Kodiak Gas Services in a research report on Wednesday, May 27th. They issued an “overweight” rating and a $93.00 price target for the company. Citigroup increased their price objective on shares of Kodiak Gas Services from $63.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Kodiak Gas Services in a report on Friday, May 29th. Finally, Jefferies Financial Group began coverage on shares of Kodiak Gas Services in a research note on Thursday, June 4th. They issued a “buy” rating and a $79.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Kodiak Gas Services currently has an average rating of “Moderate Buy” and a consensus price target of $79.25.

Kodiak Gas Services Trading Down 3.7%

NYSE KGS opened at $72.37 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 2.38. The firm has a market cap of $6.42 billion, a PE ratio of 97.80, a price-to-earnings-growth ratio of 1.05 and a beta of 0.89. The company has a 50 day moving average price of $70.05 and a 200 day moving average price of $55.99. Kodiak Gas Services, Inc. has a 52 week low of $30.06 and a 52 week high of $77.68.

Kodiak Gas Services (NYSE:KGS) last posted its earnings results on Monday, May 11th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. The company had revenue of $345.76 million during the quarter, compared to analysts’ expectations of $340.23 million. Kodiak Gas Services had a net margin of 5.13% and a return on equity of 13.12%. Kodiak Gas Services’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.33 earnings per share. As a group, sell-side analysts forecast that Kodiak Gas Services, Inc. will post 2.36 EPS for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Monday, May 18th. Kodiak Gas Services’s dividend payout ratio is currently 264.86%.

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.