Sheets Smith Investment Management Buys New Stake in Kodiak Gas Services, Inc. (NYSE:KGS)

Sheets Smith Investment Management purchased a new stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 32,471 shares of the company’s stock, valued at approximately $1,326,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new stake in shares of Kodiak Gas Services during the 3rd quarter valued at about $610,000. Victory Capital Management Inc. purchased a new position in Kodiak Gas Services during the third quarter worth approximately $2,974,000. Charles Schwab Investment Management Inc. grew its holdings in Kodiak Gas Services by 17.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 198,410 shares of the company’s stock valued at $5,754,000 after purchasing an additional 29,611 shares during the period. Dynamic Technology Lab Private Ltd increased its position in shares of Kodiak Gas Services by 41.7% in the third quarter. Dynamic Technology Lab Private Ltd now owns 10,904 shares of the company’s stock valued at $316,000 after buying an additional 3,209 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Kodiak Gas Services by 444.4% during the 3rd quarter. FMR LLC now owns 4,889,804 shares of the company’s stock worth $141,804,000 after buying an additional 3,991,630 shares during the period. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Insider Activity at Kodiak Gas Services

In other Kodiak Gas Services news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $47.50, for a total value of $177,112,157.50. Following the sale, the insider now owns 34,771,323 shares of the company’s stock, valued at $1,651,637,842.50. The trade was a 9.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

KGS has been the subject of several recent analyst reports. Citigroup boosted their price target on shares of Kodiak Gas Services from $41.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Royal Bank of Canada set a $45.00 price target on shares of Kodiak Gas Services and gave the company an “outperform” rating in a research note on Tuesday, March 11th. The Goldman Sachs Group boosted their price objective on Kodiak Gas Services from $32.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. raised their target price on Kodiak Gas Services from $34.00 to $42.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Finally, Truist Financial lifted their price target on Kodiak Gas Services from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.91.

Kodiak Gas Services Trading Down 1.6 %

Shares of KGS opened at $37.85 on Monday. Kodiak Gas Services, Inc. has a 12-month low of $24.84 and a 12-month high of $50.43. The firm has a market capitalization of $3.36 billion, a P/E ratio of 130.51 and a beta of 1.30. The firm has a 50-day moving average price of $43.30 and a 200 day moving average price of $38.03. The company has a current ratio of 1.27, a quick ratio of 0.93 and a debt-to-equity ratio of 1.86.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.15). Kodiak Gas Services had a return on equity of 7.91% and a net margin of 2.23%. The business had revenue of $309.52 million during the quarter, compared to analysts’ expectations of $323.82 million. Sell-side analysts forecast that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Friday, February 14th. Kodiak Gas Services’s payout ratio is 277.97%.

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.