Principal Financial Group Inc. Buys 2,993 Shares of Kodiak Gas Services, Inc. (NYSE:KGS)

Principal Financial Group Inc. boosted its stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 14.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 24,013 shares of the company’s stock after buying an additional 2,993 shares during the period. Principal Financial Group Inc.’s holdings in Kodiak Gas Services were worth $980,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Rhumbline Advisers boosted its position in shares of Kodiak Gas Services by 53.2% during the fourth quarter. Rhumbline Advisers now owns 44,042 shares of the company’s stock valued at $1,798,000 after buying an additional 15,285 shares during the period. Augustine Asset Management Inc. boosted its holdings in Kodiak Gas Services by 1,761.2% during the 4th quarter. Augustine Asset Management Inc. now owns 640,244 shares of the company’s stock valued at $26,141,000 after acquiring an additional 605,844 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in Kodiak Gas Services by 57.7% during the 4th quarter. Kestra Private Wealth Services LLC now owns 18,634 shares of the company’s stock valued at $761,000 after acquiring an additional 6,818 shares during the period. Entropy Technologies LP bought a new position in Kodiak Gas Services in the 4th quarter valued at $998,000. Finally, U.S. Capital Wealth Advisors LLC increased its stake in Kodiak Gas Services by 1.6% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 32,400 shares of the company’s stock worth $1,323,000 after purchasing an additional 500 shares during the period. 24.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Kodiak Gas Services

In related news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $47.50, for a total transaction of $177,112,157.50. Following the transaction, the insider now directly owns 34,771,323 shares of the company’s stock, valued at $1,651,637,842.50. This represents a 9.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

KGS has been the subject of a number of recent analyst reports. Citigroup boosted their target price on shares of Kodiak Gas Services from $41.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Raymond James boosted their price objective on shares of Kodiak Gas Services from $35.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Mizuho raised their target price on shares of Kodiak Gas Services from $47.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Truist Financial lifted their price target on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. increased their price objective on Kodiak Gas Services from $34.00 to $42.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.09.

Kodiak Gas Services Stock Performance

Shares of NYSE:KGS opened at $34.63 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 119.40 and a beta of 1.30. The firm has a 50 day moving average of $44.57 and a 200 day moving average of $37.14. Kodiak Gas Services, Inc. has a 52 week low of $23.57 and a 52 week high of $50.43.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.27 EPS 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 company had revenue of $309.52 million during the quarter, compared to the consensus estimate of $323.82 million. On average, sell-side analysts predict that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 14th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend was Friday, February 14th. Kodiak Gas Services’s payout ratio is currently 565.52%.

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.