Insider Selling: Kodiak Gas Services (NYSE:KGS) CEO Sells $355,800.69 in Stock

Kodiak Gas Services, Inc. (NYSE:KGS) CEO Robert Michael Mckee sold 5,999 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $59.31, for a total value of $355,800.69. Following the completion of the transaction, the chief executive officer directly owned 292,590 shares of the company’s stock, valued at approximately $17,353,512.90. The trade was a 2.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Robert Michael Mckee also recently made the following trade(s):

• On Wednesday, August 19th, Robert Michael Mckee sold 6,008 shares of Kodiak Gas Services stock. The shares were sold at an average price of $62.39, for a total value of $374,839.12.

Kodiak Gas Services Price Performance

NYSE:KGS traded up $2.17 during trading hours on Wednesday, reaching $61.72. The company had a trading volume of 1,681,310 shares, compared to its average volume of 1,682,197. The stock has a 50-day moving average of $63.80 and a two-hundred day moving average of $63.15. Kodiak Gas Services, Inc. has a one year low of $32.55 and a one year high of $77.68. The firm has a market capitalization of $6.24 billion, a PE ratio of 73.48, a PEG ratio of 0.86 and a beta of 0.98. The company has a quick ratio of 1.15, a current ratio of 1.45 and a debt-to-equity ratio of 1.28.

Kodiak Gas Services (NYSE:KGS) last issued its earnings results on Thursday, August 6th. The company reported $0.55 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 firm had revenue of $391.12 million during the quarter, compared to analyst estimates of $386.30 million. During the same quarter in the prior year, the firm posted $0.43 EPS. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. Analysts forecast that Kodiak Gas Services, Inc. will post 2.44 earnings per share for the current year.

Kodiak Gas Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Monday, August 17th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Monday, August 17th. Kodiak Gas Services’s dividend payout ratio is currently 233.33%.

Hedge Funds Weigh In On Kodiak Gas Services

Several hedge funds have recently added to or reduced their stakes in KGS. BlackRock Inc. acquired a new position in Kodiak Gas Services during the 2nd quarter valued at about $1,142,139,000. California State Teachers Retirement System grew its position in shares of Kodiak Gas Services by 8,307.7% during the 2nd quarter. California State Teachers Retirement System now owns 8,441,006 shares of the company’s stock worth $634,173,000 after buying an additional 8,340,610 shares during the period. Invesco Ltd. grew its position in shares of Kodiak Gas Services by 20.4% during the 4th quarter. Invesco Ltd. now owns 7,593,274 shares of the company’s stock worth $283,988,000 after buying an additional 1,287,485 shares during the period. Vanguard Group Inc. raised its stake in shares of Kodiak Gas Services by 33.8% during the fourth quarter. Vanguard Group Inc. now owns 6,170,360 shares of the company’s stock worth $230,771,000 after buying an additional 1,559,172 shares during the last quarter. Finally, Zimmer Partners LP raised its stake in shares of Kodiak Gas Services by 45.7% during the fourth quarter. Zimmer Partners LP now owns 4,271,553 shares of the company’s stock worth $159,756,000 after buying an additional 1,339,849 shares during the last quarter. Institutional investors own 24.95% of the company’s stock.

Analyst Ratings Changes

KGS has been the topic of several recent analyst reports. Jefferies Financial Group reduced their target price on Kodiak Gas Services from $79.00 to $69.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Piper Sandler began coverage on Kodiak Gas Services in a research report on Tuesday, July 28th. They issued an “overweight” rating and a $78.00 price objective for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Kodiak Gas Services in a research note on Wednesday, August 26th. Stifel Nicolaus increased their target price on Kodiak Gas Services from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Finally, Citigroup raised 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 analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Kodiak Gas Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.89.

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.