MetLife Investment Management LLC Has $987,000 Position in Kodiak Gas Services, Inc. $KGS

MetLife Investment Management LLC increased its position in Kodiak Gas Services, Inc. (NYSE:KGS) by 33.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,452 shares of the company’s stock after buying an additional 6,692 shares during the period. MetLife Investment Management LLC’s holdings in Kodiak Gas Services were worth $987,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Amalgamated Bank grew its holdings in Kodiak Gas Services by 40.0% during the first quarter. Amalgamated Bank now owns 1,554 shares of the company’s stock valued at $58,000 after purchasing an additional 444 shares during the last quarter. Rhumbline Advisers grew its holdings in Kodiak Gas Services by 37.3% during the first quarter. Rhumbline Advisers now owns 60,450 shares of the company’s stock valued at $2,255,000 after purchasing an additional 16,408 shares during the last quarter. GAMMA Investing LLC grew its holdings in Kodiak Gas Services by 3,401.8% during the first quarter. GAMMA Investing LLC now owns 24,618 shares of the company’s stock valued at $918,000 after purchasing an additional 23,915 shares during the last quarter. KBC Group NV acquired a new position in Kodiak Gas Services during the first quarter valued at approximately $116,000. Finally, Bank of New York Mellon Corp grew its holdings in Kodiak Gas Services by 13.4% during the first quarter. Bank of New York Mellon Corp now owns 443,666 shares of the company’s stock valued at $16,549,000 after purchasing an additional 52,522 shares during the last quarter. Institutional investors and hedge funds own 24.95% of the company’s stock.

Kodiak Gas Services Stock Down 3.2%

KGS opened at $35.34 on Friday. Kodiak Gas Services, Inc. has a 1-year low of $25.21 and a 1-year high of $50.43. The company has a current ratio of 1.10, a quick ratio of 0.78 and a debt-to-equity ratio of 1.89. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 39.26 and a beta of 1.34. The business has a 50 day moving average of $33.52 and a 200-day moving average of $35.09.

Kodiak Gas Services (NYSE:KGS) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $335.10 million. During the same period in the prior year, the business earned $0.06 earnings per share. Kodiak Gas Services’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current year.

Kodiak Gas Services declared that its Board of Directors has approved a stock repurchase program on Monday, August 11th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to purchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Kodiak Gas Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 4th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend was Monday, August 4th. Kodiak Gas Services’s dividend payout ratio is currently 200.00%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on KGS. Royal Bank Of Canada increased their price target on Kodiak Gas Services from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Wednesday, August 13th. Barclays increased their price target 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. JPMorgan Chase & Co. reiterated a “buy” rating and set a $43.00 price target (up previously from $42.00) on shares of Kodiak Gas Services in a report on Monday, June 23rd. Finally, Mizuho increased their price target on Kodiak Gas Services from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.30.

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.