Franklin Resources Inc. Makes New Investment in Kodiak Gas Services, Inc. (NYSE:KGS)

Franklin Resources Inc. bought a new position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 39,052 shares of the company’s stock, valued at approximately $1,242,000.

A number of other large investors have also made changes to their positions in KGS. HWG Holdings LP acquired a new position in Kodiak Gas Services during the second quarter worth $40,000. nVerses Capital LLC raised its holdings in shares of Kodiak Gas Services by 90.9% during the 2nd quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock worth $57,000 after acquiring an additional 1,000 shares during the period. SG Americas Securities LLC acquired a new position in shares of Kodiak Gas Services during the 3rd quarter valued at about $125,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings 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. Finally, UMB Bank n.a. purchased a new stake in shares of Kodiak Gas Services in the second quarter valued at about $174,000. 24.95% of the stock is currently owned by hedge funds and other institutional investors.

Kodiak Gas Services Stock Performance

Shares of Kodiak Gas Services stock opened at $40.45 on Friday. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 139.49 and a beta of 1.14. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.27 and a quick ratio of 0.93. The business has a 50-day moving average of $37.30 and a 200 day moving average of $31.14. Kodiak Gas Services, Inc. has a 12 month low of $19.88 and a 12 month high of $44.20.

Kodiak Gas Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, November 1st were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend was Friday, November 1st. Kodiak Gas Services’s payout ratio is 565.52%.

Wall Street Analyst Weigh In

KGS has been the topic of a number of analyst reports. Raymond James lifted their target price on shares of Kodiak Gas Services from $35.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Truist Financial upped their price objective on Kodiak Gas Services from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, November 8th. Citigroup initiated coverage on Kodiak Gas Services in a research note on Friday, September 27th. They set a “buy” rating and a $35.00 target price for the company. Bank of America began coverage on Kodiak Gas Services in a research report on Wednesday, September 18th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Royal Bank of Canada increased their price target on Kodiak Gas Services from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Kodiak Gas Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.09.

Insider Activity at Kodiak Gas Services

In related news, insider Ewan William Hamilton sold 3,000 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $40.45, for a total transaction of $121,350.00. Following the completion of the transaction, the insider now directly owns 31,745 shares of the company’s stock, valued at $1,284,085.25. The trade was a 8.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

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.