Viking Fund Management LLC Purchases Shares of 60,000 Kodiak Gas Services, Inc. (NYSE:KGS)

Viking Fund Management LLC acquired a new position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 60,000 shares of the company’s stock, valued at approximately $1,740,000. Viking Fund Management LLC owned about 0.07% of Kodiak Gas Services at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Security National Bank bought a new stake in Kodiak Gas Services during the 2nd quarter worth approximately $39,000. HWG Holdings LP bought a new stake in shares of Kodiak Gas Services during the second quarter worth $40,000. nVerses Capital LLC increased its stake in shares of Kodiak Gas Services by 90.9% in the second quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock valued at $57,000 after buying an additional 1,000 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in shares of Kodiak Gas Services in the fourth quarter valued at about $46,000. Finally, SG Americas Securities LLC bought a new position in shares of Kodiak Gas Services in the third quarter valued at about $125,000. Institutional investors and hedge funds own 24.95% of the company’s stock.

Analysts Set New Price Targets

KGS has been the subject of several research reports. Stifel Nicolaus raised their price objective on shares of Kodiak Gas Services from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Citigroup began coverage on shares of Kodiak Gas Services in a report on Friday, September 27th. They issued a “buy” rating and a $35.00 price target for the company. Barclays boosted their price objective on shares of Kodiak Gas Services from $29.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Redburn Atlantic initiated coverage on Kodiak Gas Services in a research report on Thursday, September 19th. They issued a “buy” rating and a $35.00 price objective on the stock. Finally, Truist Financial boosted their target price on Kodiak Gas Services from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.73.

Kodiak Gas Services Trading Up 0.4 %

Shares of NYSE:KGS traded up $0.13 during midday trading on Friday, hitting $32.32. The company had a trading volume of 568,339 shares, compared to its average volume of 517,311. The company has a current ratio of 1.05, a quick ratio of 0.70 and a debt-to-equity ratio of 1.70. Kodiak Gas Services, Inc. has a 12 month low of $16.72 and a 12 month high of $32.77. The firm has a fifty day simple moving average of $28.08 and a 200 day simple moving average of $27.56. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 36.73 and a beta of 0.89.

Kodiak Gas Services (NYSE:KGS) last posted its earnings results on Monday, August 12th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.29). The company had revenue of $309.65 million for the quarter, compared to analyst estimates of $313.88 million. Kodiak Gas Services had a return on equity of 7.20% and a net margin of 5.23%. On average, analysts predict that Kodiak Gas Services, Inc. will post 1.15 EPS for the current year.

Kodiak Gas Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 12th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 5.07%. The ex-dividend date of this dividend was Monday, August 12th. This is an increase from Kodiak Gas Services’s previous quarterly dividend of $0.38. Kodiak Gas Services’s dividend payout ratio is presently 186.36%.

Kodiak Gas Services 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.