Kodiak Gas Services, Inc. (NYSE:KGS) Stock Position Lowered by Encompass Capital Advisors LLC

Encompass Capital Advisors LLC trimmed its position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 27.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 374,862 shares of the company’s stock after selling 141,012 shares during the quarter. Encompass Capital Advisors LLC’s holdings in Kodiak Gas Services were worth $10,219,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of KGS. Security National Bank purchased a new stake in Kodiak Gas Services in the 2nd quarter worth about $39,000. nVerses Capital LLC boosted its holdings 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 purchasing an additional 1,000 shares during the period. PNC Financial Services Group Inc. acquired a new position in Kodiak Gas Services in the 4th quarter valued at approximately $46,000. Parallel Advisors LLC purchased a new stake in Kodiak Gas Services in the 4th quarter worth approximately $60,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Kodiak Gas Services by 115.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,691 shares of the company’s stock valued at $155,000 after buying an additional 3,045 shares during the period. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KGS. Royal Bank of Canada increased their price objective on Kodiak Gas Services from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Bank of America began coverage on Kodiak Gas Services in a research note on Wednesday, September 18th. They set a “buy” rating and a $30.00 price target for the company. Truist Financial increased their price objective on Kodiak Gas Services from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Barclays initiated coverage on shares of Kodiak Gas Services in a research note on Wednesday, July 17th. They issued an “equal weight” rating and a $29.00 target price for the company. Finally, Redburn Atlantic assumed coverage on shares of Kodiak Gas Services in a research note on Thursday, September 19th. They set a “buy” rating and a $35.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $31.78.

Kodiak Gas Services Stock Performance

NYSE:KGS opened at $29.44 on Thursday. The firm has a market capitalization of $2.49 billion, a PE ratio of 33.45 and a beta of 0.89. Kodiak Gas Services, Inc. has a 1 year low of $16.72 and a 1 year high of $30.52. The company has a current ratio of 1.05, a quick ratio of 0.70 and a debt-to-equity ratio of 1.70. The firm’s fifty day simple moving average is $27.43 and its 200 day simple moving average is $27.20.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly 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). Kodiak Gas Services had a net margin of 5.23% and a return on equity of 7.20%. The business had revenue of $309.65 million during the quarter, compared to analyst estimates of $313.88 million. On average, sell-side analysts anticipate that Kodiak Gas Services, Inc. will post 1.15 EPS for the current year.

Kodiak Gas Services Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Monday, August 12th. This is a positive change 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%. Kodiak Gas Services’s payout ratio is 186.37%.

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.