Insider Buying: Kodiak Gas Services (NYSE:KGS) Director Buys 6,000 Shares of Stock

Kodiak Gas Services, Inc. (NYSE:KGS) Director Randall Hogan purchased 6,000 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were purchased at an average cost of $54.81 per share, with a total value of $328,860.00. Following the purchase, the director directly owned 28,406 shares in the company, valued at approximately $1,556,932.86. The trade was a 26.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Kodiak Gas Services Price Performance

Shares of Kodiak Gas Services stock traded up $0.98 on Monday, hitting $55.18. The company’s stock had a trading volume of 956,410 shares, compared to its average volume of 1,597,321. Kodiak Gas Services, Inc. has a 52-week low of $29.25 and a 52-week high of $58.50. The company has a quick ratio of 0.57, a current ratio of 0.84 and a debt-to-equity ratio of 2.12. The firm has a fifty day moving average price of $46.43 and a 200-day moving average price of $39.21. The company has a market capitalization of $4.74 billion, a P/E ratio of 63.42 and a beta of 1.10.

Kodiak Gas Services (NYSE:KGS) last posted its earnings results on Wednesday, February 25th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.13). Kodiak Gas Services had a net margin of 6.16% and a return on equity of 11.55%. The business had revenue of $332.87 million for the quarter, compared to analysts’ expectations of $330.95 million. During the same quarter last year, the business posted $0.21 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts expect that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 13th were given a $0.49 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.96 annualized dividend and a dividend yield of 3.6%. Kodiak Gas Services’s dividend payout ratio is currently 225.29%.

Hedge Funds Weigh In On Kodiak Gas Services

Several institutional investors and hedge funds have recently modified their holdings of KGS. Invesco Ltd. boosted its position in Kodiak Gas Services by 20.4% during the fourth quarter. Invesco Ltd. now owns 7,593,274 shares of the company’s stock worth $283,988,000 after acquiring an additional 1,287,485 shares during the last quarter. Vanguard Group Inc. raised its holdings in Kodiak Gas Services by 33.8% in the 4th quarter. Vanguard Group Inc. now owns 6,170,360 shares of the company’s stock valued at $230,771,000 after acquiring an additional 1,559,172 shares during the last quarter. Zimmer Partners LP raised its holdings in Kodiak Gas Services by 45.7% in the 4th quarter. Zimmer Partners LP now owns 4,271,553 shares of the company’s stock valued at $159,756,000 after acquiring an additional 1,339,849 shares during the last quarter. State Street Corp lifted its stake in shares of Kodiak Gas Services by 31.8% during the 4th quarter. State Street Corp now owns 3,340,008 shares of the company’s stock worth $124,916,000 after purchasing an additional 806,191 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Kodiak Gas Services by 14.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,969,557 shares of the company’s stock worth $111,061,000 after purchasing an additional 376,524 shares during the period. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Barclays lifted their price objective on Kodiak Gas Services from $49.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. Wall Street Zen raised Kodiak Gas Services from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Mizuho boosted their price target on Kodiak Gas Services from $36.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Citigroup upped their price objective on Kodiak Gas Services from $53.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kodiak Gas Services in a research note on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.86.

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. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings.