Rhumbline Advisers Buys 7,995 Shares of Kodiak Gas Services, Inc. (NYSE:KGS)

Rhumbline Advisers grew its stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 36.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 29,943 shares of the company’s stock after acquiring an additional 7,995 shares during the period. Rhumbline Advisers’ holdings in Kodiak Gas Services were worth $816,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Security National Bank bought a new stake in shares of Kodiak Gas Services during the second quarter worth $39,000. nVerses Capital LLC grew its stake in shares of Kodiak Gas Services by 90.9% during the second quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock worth $57,000 after buying an additional 1,000 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of Kodiak Gas Services during the fourth quarter worth $46,000. Parallel Advisors LLC bought a new stake in shares of Kodiak Gas Services during the fourth quarter worth $60,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Kodiak Gas Services by 115.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,691 shares of the company’s stock worth $155,000 after purchasing an additional 3,045 shares during the period. Institutional investors own 24.95% of the company’s stock.

Kodiak Gas Services Price Performance

KGS stock opened at $29.64 on Tuesday. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 33.68 and a beta of 0.89. The company has a quick ratio of 0.70, a current ratio of 1.05 and a debt-to-equity ratio of 1.70. Kodiak Gas Services, Inc. has a 12-month low of $16.72 and a 12-month high of $30.52. The company’s fifty day simple moving average is $27.40 and its 200 day simple moving average is $27.15.

Kodiak Gas Services (NYSE:KGS) last released its earnings results on Monday, August 12th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.29). The firm had revenue of $309.65 million during the quarter, compared to analyst estimates of $313.88 million. Kodiak Gas Services had a net margin of 5.23% and a return on equity of 7.20%. On average, analysts expect that Kodiak Gas Services, Inc. will post 1.15 earnings per share for the current year.

Kodiak Gas Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 12th were paid a $0.41 dividend. This is an increase from Kodiak Gas Services’s previous quarterly dividend of $0.38. This represents a $1.64 annualized dividend and a yield of 5.53%. The ex-dividend date of this dividend was Monday, August 12th. Kodiak Gas Services’s payout ratio is 186.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on KGS shares. Bank of America started coverage on shares of Kodiak Gas Services in a report on Wednesday, September 18th. They set a “buy” rating and a $30.00 price target on the stock. Stifel Nicolaus lifted their price target on shares of Kodiak Gas Services from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Barclays started coverage on shares of Kodiak Gas Services in a report on Wednesday, July 17th. They set an “equal weight” rating and a $29.00 price target on the stock. Redburn Atlantic started coverage on shares of Kodiak Gas Services in a report on Thursday, September 19th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Royal Bank of Canada lifted their price target on shares of Kodiak Gas Services from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Kodiak Gas Services currently has a consensus rating of “Moderate Buy” and an average target price of $31.78.

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.