Kodiak Gas Services, Inc. (NYSE:KGS) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 28.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,880 shares of the company’s stock after acquiring an additional 6,984 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Kodiak Gas Services were worth $925,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. boosted its position in Kodiak Gas Services by 20.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,279,636 shares of the company’s stock worth $25,695,000 after purchasing an additional 215,570 shares in the last quarter. HITE Hedge Asset Management LLC boosted its position in shares of Kodiak Gas Services by 74.8% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 780,600 shares of the company’s stock worth $21,279,000 after buying an additional 334,086 shares in the last quarter. Blackstone Inc. boosted its position in shares of Kodiak Gas Services by 1,358.3% in the 1st quarter. Blackstone Inc. now owns 644,231 shares of the company’s stock worth $17,613,000 after buying an additional 600,055 shares in the last quarter. American Century Companies Inc. grew its stake in Kodiak Gas Services by 63.2% in the 2nd quarter. American Century Companies Inc. now owns 575,371 shares of the company’s stock valued at $15,685,000 after acquiring an additional 222,830 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Kodiak Gas Services by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 542,281 shares of the company’s stock valued at $14,783,000 after acquiring an additional 7,640 shares in the last quarter. Institutional investors and hedge funds own 24.95% of the company’s stock.

Analysts Set New Price Targets

KGS has been the topic of several recent research reports. Stifel Nicolaus upped their price target on shares of Kodiak Gas Services from $31.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Royal Bank of Canada upped their target price on Kodiak Gas Services from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday. Truist Financial raised their price target on Kodiak Gas Services from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Citigroup initiated coverage on Kodiak Gas Services in a research report on Friday, September 27th. They issued a “buy” rating and a $35.00 price objective on the stock. Finally, Barclays lifted their price objective on Kodiak Gas Services from $29.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Kodiak Gas Services currently has a consensus rating of “Moderate Buy” and an average target price of $33.09.

Kodiak Gas Services Stock Performance

NYSE KGS opened at $31.39 on Friday. The business’s 50-day moving average price is $28.36 and its 200 day moving average price is $27.65. The company has a current ratio of 1.05, a quick ratio of 0.70 and a debt-to-equity ratio of 1.70. Kodiak Gas Services, Inc. has a twelve month low of $16.72 and a twelve month high of $32.77. The company has a market capitalization of $2.65 billion, a PE ratio of 35.67 and a beta of 0.89.

Kodiak Gas Services (NYSE:KGS) last announced its quarterly earnings data on Monday, August 12th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.29). Kodiak Gas Services had a return on equity of 7.20% and a net margin of 5.23%. The company had revenue of $309.65 million for the quarter, compared to analysts’ expectations of $313.88 million. On average, research analysts predict 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 issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date was Monday, August 12th. This is a positive change from Kodiak Gas Services’s previous quarterly dividend of $0.38. Kodiak Gas Services’s dividend payout ratio (DPR) is 186.36%.

About Kodiak Gas Services

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.