HITE Hedge Asset Management LLC Purchases 334,086 Shares of Kodiak Gas Services, Inc. (NYSE:KGS)

HITE Hedge Asset Management LLC boosted its position in Kodiak Gas Services, Inc. (NYSE:KGS) by 74.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 780,600 shares of the company’s stock after purchasing an additional 334,086 shares during the period. Kodiak Gas Services makes up approximately 2.0% of HITE Hedge Asset Management LLC’s holdings, making the stock its 15th largest holding. HITE Hedge Asset Management LLC’s holdings in Kodiak Gas Services were worth $21,279,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Security National Bank purchased a new stake in Kodiak Gas Services in the 2nd quarter worth about $39,000. PNC Financial Services Group Inc. bought a new position in Kodiak Gas Services during the fourth quarter worth about $46,000. nVerses Capital LLC increased its stake in shares of Kodiak Gas Services by 90.9% in the second quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock worth $57,000 after purchasing an additional 1,000 shares in the last quarter. Parallel Advisors LLC bought a new stake in shares of Kodiak Gas Services in the fourth quarter valued at approximately $60,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Kodiak Gas Services by 115.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,691 shares of the company’s stock valued at $155,000 after purchasing an additional 3,045 shares during the period. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Analyst Ratings Changes

KGS has been the subject of a number of recent research reports. Redburn Atlantic assumed coverage on shares of Kodiak Gas Services in a research note on Thursday, September 19th. They issued a “buy” rating and a $35.00 price objective for the company. Barclays assumed coverage on Kodiak Gas Services in a research report on Wednesday, July 17th. They issued an “equal weight” rating and a $29.00 price target for the company. Royal Bank of Canada boosted their price objective on Kodiak Gas Services from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Truist Financial raised their target price on Kodiak Gas Services from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Stifel Nicolaus upped their price target on Kodiak Gas Services from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $31.78.

Kodiak Gas Services Stock Performance

NYSE:KGS opened at $29.45 on Wednesday. The stock has a market cap of $2.49 billion, a P/E ratio of 33.47 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. The business’s 50-day moving average price is $27.42 and its two-hundred day moving average price is $27.18. Kodiak Gas Services, Inc. has a twelve month low of $16.72 and a twelve month high of $30.52.

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

Kodiak Gas Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 12th were issued a dividend of $0.41 per share. This is an increase from Kodiak Gas Services’s previous quarterly dividend of $0.38. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date was Monday, August 12th. Kodiak Gas Services’s payout ratio is currently 186.37%.

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.