Kodiak Gas Services, Inc. (NYSE:KGS) Position Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 13.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 443,666 shares of the company’s stock after purchasing an additional 52,522 shares during the period. Bank of New York Mellon Corp’s holdings in Kodiak Gas Services were worth $16,549,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Amalgamated Bank raised its holdings in Kodiak Gas Services by 40.0% in the 1st quarter. Amalgamated Bank now owns 1,554 shares of the company’s stock worth $58,000 after acquiring an additional 444 shares during the period. United Advisor Group LLC grew its stake in shares of Kodiak Gas Services by 4.4% during the fourth quarter. United Advisor Group LLC now owns 12,281 shares of the company’s stock valued at $501,000 after purchasing an additional 519 shares during the last quarter. Comerica Bank lifted its holdings in Kodiak Gas Services by 710.1% in the fourth quarter. Comerica Bank now owns 721 shares of the company’s stock valued at $29,000 after buying an additional 632 shares during the period. Sterling Capital Management LLC raised its holdings in Kodiak Gas Services by 1,322.6% in the fourth quarter. Sterling Capital Management LLC now owns 754 shares of the company’s stock worth $31,000 after purchasing an additional 701 shares during the period. Finally, Stifel Financial Corp raised its holdings in Kodiak Gas Services by 6.9% in the fourth quarter. Stifel Financial Corp now owns 15,655 shares of the company’s stock worth $639,000 after purchasing an additional 1,007 shares during the period. Institutional investors and hedge funds own 24.95% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on KGS. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $43.00 target price (up from $42.00) on shares of Kodiak Gas Services in a report on Monday, June 23rd. Mizuho decreased their target price on shares of Kodiak Gas Services from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday, May 20th. Finally, Barclays decreased their price objective on shares of Kodiak Gas Services from $41.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. One research analyst has rated the stock with a hold rating and ten have given 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 target price of $40.64.

Kodiak Gas Services Price Performance

Shares of Kodiak Gas Services stock opened at $32.30 on Friday. 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 0.87, a current ratio of 1.17 and a debt-to-equity ratio of 1.91. The company has a 50-day simple moving average of $34.36 and a two-hundred day simple moving average of $37.94. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 60.94 and a beta of 1.35.

Kodiak Gas Services (NYSE:KGS) last released its earnings results on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.39 by $0.03. Kodiak Gas Services had a net margin of 3.93% and a return on equity of 8.49%. The firm had revenue of $329.64 million for the quarter, compared to analyst estimates of $328.45 million. During the same period last year, the firm earned $0.39 EPS. The business’s quarterly revenue was up 52.9% compared to the same quarter last year. Analysts forecast that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, May 5th. This is a positive change from Kodiak Gas Services’s previous quarterly dividend of $0.41. This represents a $1.80 annualized dividend and a dividend yield of 5.57%. Kodiak Gas Services’s payout ratio is 339.62%.

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.