KLP Kapitalforvaltning AS Purchases New Stake in Kodiak Gas Services, Inc. (NYSE:KGS)

KLP Kapitalforvaltning AS purchased a new position in Kodiak Gas Services, Inc. (NYSE:KGS) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 5,700 shares of the company’s stock, valued at approximately $233,000.

Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP purchased a new position in shares of Kodiak Gas Services during the third quarter valued at approximately $44,558,000. Augustine Asset Management Inc. boosted its holdings in Kodiak Gas Services by 1,761.2% in the fourth quarter. Augustine Asset Management Inc. now owns 640,244 shares of the company’s stock valued at $26,141,000 after acquiring an additional 605,844 shares in the last quarter. Burkehill Global Management LP purchased a new position in Kodiak Gas Services during the 4th quarter valued at $12,249,000. Royce & Associates LP raised its holdings in Kodiak Gas Services by 162.0% in the 4th quarter. Royce & Associates LP now owns 340,550 shares of the company’s stock worth $13,905,000 after purchasing an additional 210,550 shares in the last quarter. Finally, Two Sigma Advisers LP raised its holdings in Kodiak Gas Services by 50.3% in the 3rd quarter. Two Sigma Advisers LP now owns 605,100 shares of the company’s stock worth $17,548,000 after purchasing an additional 202,400 shares in the last quarter. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Kodiak Gas Services Stock Down 0.2 %

Shares of NYSE:KGS opened at $31.22 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 0.93 and a debt-to-equity ratio of 1.86. The stock has a fifty day simple moving average of $41.02 and a two-hundred day simple moving average of $38.76. Kodiak Gas Services, Inc. has a 12-month low of $24.84 and a 12-month high of $50.43. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 107.64 and a beta of 1.52.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.15). The company had revenue of $309.52 million for the quarter, compared to the consensus estimate of $323.82 million. Kodiak Gas Services had a net margin of 2.23% and a return on equity of 7.91%. On average, research analysts anticipate that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were issued a $0.41 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.64 annualized dividend and a yield of 5.25%. Kodiak Gas Services’s dividend payout ratio (DPR) is presently 277.97%.

Insider Transactions at Kodiak Gas Services

In related news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of the firm’s 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 owns 34,771,323 shares of the company’s stock, valued at $1,651,637,842.50. This trade represents a 9.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KGS. Royal Bank of Canada set a $45.00 price target on shares of Kodiak Gas Services and gave the company an “outperform” rating in a research report on Tuesday, March 11th. Mizuho upped their target price on Kodiak Gas Services from $47.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Raymond James reissued an “outperform” rating on shares of Kodiak Gas Services in a research report on Friday, March 7th. Barclays dropped their price target on Kodiak Gas Services from $44.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. Finally, Truist Financial increased their price objective on Kodiak Gas Services from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.91.

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.