Price T Rowe Associates Inc. MD Reduces Stock Position in Kodiak Gas Services, Inc. $KGS

Price T Rowe Associates Inc. MD cut its stake in Kodiak Gas Services, Inc. (NYSE:KGS) by 5.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,562,035 shares of the company’s stock after selling 88,148 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Kodiak Gas Services were worth $58,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Zimmer Partners LP grew its position in shares of Kodiak Gas Services by 88.1% in the fourth quarter. Zimmer Partners LP now owns 3,347,700 shares of the company’s stock valued at $136,687,000 after purchasing an additional 1,567,849 shares in the last quarter. Invesco Ltd. lifted its holdings in Kodiak Gas Services by 3.5% in the first quarter. Invesco Ltd. now owns 3,044,939 shares of the company’s stock valued at $113,576,000 after acquiring an additional 102,157 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Kodiak Gas Services by 9.0% in the first quarter. Vanguard Group Inc. now owns 2,897,588 shares of the company’s stock valued at $108,080,000 after acquiring an additional 238,573 shares during the last quarter. Encompass Capital Advisors LLC acquired a new position in Kodiak Gas Services in the fourth quarter valued at approximately $66,122,000. Finally, American Century Companies Inc. lifted its holdings in Kodiak Gas Services by 38.6% in the first quarter. American Century Companies Inc. now owns 1,302,080 shares of the company’s stock valued at $48,568,000 after acquiring an additional 362,621 shares during the last quarter. 24.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on KGS shares. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $43.00 price objective (up from $42.00) on shares of Kodiak Gas Services in a report on Monday, June 23rd. Barclays upped their price objective on Kodiak Gas Services from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Thursday, August 14th. Royal Bank Of Canada upped their price objective on Kodiak Gas Services from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Wednesday, August 13th. Finally, Mizuho decreased their price objective on Kodiak Gas Services from $46.00 to $45.00 and set an “outperform” rating on the stock in a report on Tuesday, May 20th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Kodiak Gas Services presently has an average rating of “Moderate Buy” and an average price target of $41.10.

Kodiak Gas Services Stock Up 1.2%

NYSE:KGS opened at $34.76 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 1.10 and a debt-to-equity ratio of 1.89. The stock’s fifty day moving average is $33.30 and its two-hundred day moving average is $35.55. Kodiak Gas Services, Inc. has a 52 week low of $25.21 and a 52 week high of $50.43. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 38.62 and a beta of 1.33.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Kodiak Gas Services had a return on equity of 10.35% and a net margin of 6.48%.The company had revenue of $322.84 million for the quarter, compared to analysts’ expectations of $335.10 million. During the same period in the prior year, the firm earned $0.06 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. Research analysts anticipate that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 4th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date was Monday, August 4th. Kodiak Gas Services’s dividend payout ratio is 200.00%.

Kodiak Gas Services announced that its Board of Directors has initiated a stock repurchase plan on Monday, August 11th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.