Northern Trust Corp Purchases 160,441 Shares of Kodiak Gas Services, Inc. (NYSE:KGS)

Northern Trust Corp boosted its position in Kodiak Gas Services, Inc. (NYSE:KGS) by 72.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 382,238 shares of the company’s stock after acquiring an additional 160,441 shares during the period. Northern Trust Corp’s holdings in Kodiak Gas Services were worth $15,607,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in KGS. GAMMA Investing LLC grew its stake in shares of Kodiak Gas Services by 94.7% in the fourth quarter. GAMMA Investing LLC now owns 703 shares of the company’s stock worth $29,000 after purchasing an additional 342 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of Kodiak Gas Services by 1,322.6% in the 4th quarter. Sterling Capital Management LLC now owns 754 shares of the company’s stock worth $31,000 after buying an additional 701 shares during the last quarter. Amalgamated Bank grew its position in shares of Kodiak Gas Services by 112.6% in the 4th quarter. Amalgamated Bank now owns 1,110 shares of the company’s stock worth $45,000 after buying an additional 588 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Kodiak Gas Services in the 4th quarter worth approximately $49,000. Finally, Summit Investment Advisors Inc. grew its position in shares of Kodiak Gas Services by 72.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,406 shares of the company’s stock worth $139,000 after buying an additional 1,431 shares during the last quarter. Institutional investors own 24.95% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on KGS. Barclays cut their price target on shares of Kodiak Gas Services from $41.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Raymond James reaffirmed an “outperform” rating on shares of Kodiak Gas Services in a research note on Friday, March 7th. Mizuho lifted their target price on shares of Kodiak Gas Services from $47.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Royal Bank of Canada set a $45.00 price objective on Kodiak Gas Services and gave the company an “outperform” rating in a research report on Tuesday, March 11th. Finally, Truist Financial lifted their price objective on Kodiak Gas Services from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Two investment 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.45.

Kodiak Gas Services Stock Performance

Shares of KGS opened at $36.21 on Thursday. 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 business’s 50 day moving average price is $35.16 and its 200-day moving average price is $39.26. Kodiak Gas Services, Inc. has a 52 week low of $24.84 and a 52 week high of $50.43. The stock has a market cap of $3.21 billion, a P/E ratio of 124.87 and a beta of 1.59.

Kodiak Gas Services (NYSE:KGS) last released its earnings results on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.39 by $0.03. Kodiak Gas Services had a return on equity of 7.91% and a net margin of 2.23%. The business had revenue of $329.64 million for the quarter, compared to the consensus estimate of $328.45 million. During the same period in the previous year, the company posted $0.39 earnings per share. The company’s revenue for the quarter was up 52.9% compared to the same quarter last year. Equities research analysts anticipate that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current fiscal year.

Kodiak Gas Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be paid a $0.45 dividend. This is a boost from Kodiak Gas Services’s previous quarterly dividend of $0.41. The ex-dividend date is Monday, May 5th. This represents a $1.80 dividend on an annualized basis and a yield of 4.97%. Kodiak Gas Services’s payout ratio is presently 339.62%.

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.