Raymond James Financial Inc. Invests $276,000 in Kodiak Gas Services, Inc. (NYSE:KGS)

Raymond James Financial Inc. bought a new stake in Kodiak Gas Services, Inc. (NYSE:KGS) in the 4th quarter, Holdings Channel.com reports. The fund bought 6,760 shares of the company’s stock, valued at approximately $276,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in Kodiak Gas Services during the 3rd quarter worth about $44,558,000. Augustine Asset Management Inc. raised its holdings in shares of Kodiak Gas Services by 1,761.2% in the 4th quarter. Augustine Asset Management Inc. now owns 640,244 shares of the company’s stock valued at $26,141,000 after purchasing an additional 605,844 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Kodiak Gas Services by 155.8% during the 4th quarter. Victory Capital Management Inc. now owns 262,329 shares of the company’s stock worth $10,711,000 after acquiring an additional 159,772 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Kodiak Gas Services by 56.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 309,679 shares of the company’s stock valued at $12,644,000 after purchasing an additional 111,269 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Kodiak Gas Services by 16.8% during the third quarter. Geode Capital Management LLC now owns 547,815 shares of the company’s stock worth $15,890,000 after acquiring an additional 78,811 shares during the last quarter. 24.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Kodiak Gas Services

In other Kodiak Gas Services news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of Kodiak Gas Services stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $47.50, for a total transaction of $177,112,157.50. Following the completion of the sale, the insider now directly owns 34,771,323 shares in the company, 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 SEC, which is available through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on KGS shares. Mizuho lifted their price objective on shares of Kodiak Gas Services from $47.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating on shares of Kodiak Gas Services in a research note on Friday, March 7th. Royal Bank of Canada set a $45.00 target price on shares of Kodiak Gas Services and gave the stock an “outperform” rating in a report on Tuesday, March 11th. Barclays reduced their target price on Kodiak Gas Services from $44.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Finally, Citigroup lifted their price objective on Kodiak Gas Services from $41.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.91.

Kodiak Gas Services Stock Down 4.8 %

KGS stock opened at $31.97 on Friday. The firm has a market capitalization of $2.84 billion, a PE ratio of 110.25 and a beta of 1.52. The stock’s 50 day moving average is $39.41 and its 200-day moving average is $38.71. Kodiak Gas Services, Inc. has a twelve month low of $24.84 and a twelve month high of $50.43. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 1.86.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.15). The business had revenue of $309.52 million for the quarter, compared to analysts’ expectations of $323.82 million. Kodiak Gas Services had a net margin of 2.23% and a return on equity of 7.91%. Sell-side analysts expect that Kodiak Gas Services, Inc. will post 1.12 EPS for the current fiscal 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 issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 5.13%. The ex-dividend date of this dividend was Friday, February 14th. Kodiak Gas Services’s dividend payout ratio (DPR) is presently 277.97%.

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.