Arizona State Retirement System Has $514,000 Stock Position in Kodiak Gas Services, Inc. (NYSE:KGS)

Arizona State Retirement System lifted its holdings in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 62.4% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,775 shares of the company’s stock after buying an additional 5,293 shares during the period. Arizona State Retirement System’s holdings in Kodiak Gas Services were worth $514,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Comerica Bank grew its stake in Kodiak Gas Services by 710.1% during the fourth quarter. Comerica Bank now owns 721 shares of the company’s stock worth $29,000 after purchasing an additional 632 shares during the period. Sterling Capital Management LLC grew its stake in Kodiak Gas Services by 1,322.6% during 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. State of Wyoming acquired a new stake in Kodiak Gas Services during the fourth quarter worth approximately $57,000. Amalgamated Bank grew its stake in Kodiak Gas Services by 40.0% during the first quarter. Amalgamated Bank now owns 1,554 shares of the company’s stock worth $58,000 after purchasing an additional 444 shares during the period. Finally, KBC Group NV acquired a new stake in Kodiak Gas Services during the first quarter worth approximately $116,000. Institutional investors and hedge funds own 24.95% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KGS. Mizuho cut their price target 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. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $43.00 price target (up previously from $42.00) on shares of Kodiak Gas Services in a report on Monday, June 23rd. Finally, Barclays cut their price target on 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. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Kodiak Gas Services currently has an average rating of “Moderate Buy” and a consensus target price of $40.64.

Kodiak Gas Services Trading Down 2.4%

NYSE KGS opened at $31.53 on Tuesday. The firm has a market capitalization of $2.80 billion, a P/E ratio of 59.48 and a beta of 1.35. The business has a fifty day simple moving average of $34.36 and a 200 day simple moving average of $37.89. Kodiak Gas Services, Inc. has a 12 month low of $24.84 and a 12 month high of $50.43. The company has a current ratio of 1.17, a quick ratio of 0.87 and a debt-to-equity ratio of 1.91.

Kodiak Gas Services (NYSE:KGS) last issued its earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. The firm had revenue of $329.64 million during the quarter, compared to analyst estimates of $328.45 million. Kodiak Gas Services had a net margin of 3.93% and a return on equity of 8.49%. The company’s quarterly revenue was up 52.9% on a year-over-year basis. During the same quarter last year, the business earned $0.39 earnings per share. On average, analysts predict that Kodiak Gas Services, Inc. will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date of this dividend was Monday, May 5th. This is an increase from Kodiak Gas Services’s previous quarterly dividend of $0.41. Kodiak Gas Services’s dividend payout ratio (DPR) is 339.62%.

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.