Pinnbrook Capital Management LP Invests $29.44 Million in Kodiak Gas Services, Inc. $KGS

Pinnbrook Capital Management LP acquired a new stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 391,854 shares of the company’s stock, valued at approximately $29,440,000. Kodiak Gas Services makes up 3.1% of Pinnbrook Capital Management LP’s holdings, making the stock its 6th biggest position. Pinnbrook Capital Management LP owned approximately 0.44% of Kodiak Gas Services as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in KGS. EverSource Wealth Advisors LLC raised its holdings in shares of Kodiak Gas Services by 1,501.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company’s stock valued at $42,000 after acquiring an additional 1,156 shares in the last quarter. State of Wyoming grew its holdings in Kodiak Gas Services by 201.7% during the 4th quarter. State of Wyoming now owns 1,219 shares of the company’s stock worth $46,000 after acquiring an additional 815 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Kodiak Gas Services by 80.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,449 shares of the company’s stock valued at $54,000 after purchasing an additional 646 shares during the period. Harbor Investment Advisory LLC purchased a new position in Kodiak Gas Services during the 2nd quarter valued at about $76,000. Finally, Allworth Financial LP bought a new stake in shares of Kodiak Gas Services in the 2nd quarter valued at about $80,000. 24.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on KGS. Weiss Ratings reissued a “hold (c+)” rating on shares of Kodiak Gas Services in a research note on Friday, May 29th. Royal Bank Of Canada lifted their price target on Kodiak Gas Services from $84.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, August 13th. The Goldman Sachs Group upped their price objective on Kodiak Gas Services from $69.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Stifel Nicolaus raised their price objective on Kodiak Gas Services from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Finally, Citigroup lifted their target price 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. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.89.

Kodiak Gas Services Stock Up 1.1%

Shares of KGS stock opened at $61.28 on Friday. Kodiak Gas Services, Inc. has a fifty-two week low of $32.55 and a fifty-two week high of $77.68. The firm has a market capitalization of $6.20 billion, a PE ratio of 72.95, a P/E/G ratio of 0.89 and a beta of 0.97. 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’s 50-day simple moving average is $65.19 and its 200-day simple moving average is $62.44.

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 the consensus estimate of $0.67 by ($0.12). Kodiak Gas Services had a return on equity of 11.92% and a net margin of 5.77%.The business had revenue of $391.12 million during the quarter, compared to analyst estimates of $386.30 million. During the same quarter last year, the company posted $0.43 EPS. Kodiak Gas Services’s quarterly revenue was up 21.2% compared to the same quarter last year. Equities analysts expect that Kodiak Gas Services, Inc. will post 2.46 earnings per share for the current year.

Kodiak Gas Services Dividend Announcement

The firm 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 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 dividend payout ratio (DPR) is 233.33%.

Insider Buying and Selling

In related news, COO William Chad Lenamon sold 1,000 shares of the business’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $67.79, for a total value of $67,790.00. Following the completion of the sale, the chief operating officer owned 87,294 shares of the company’s stock, valued at approximately $5,917,660.26. The trade was a 1.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Michael Mckee sold 6,008 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 19,531 shares of company stock valued at $1,296,158 in the last 90 days. Corporate insiders own 0.64% of the company’s stock.

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.