Connor Clark & Lunn Investment Management Ltd. Invests $29.90 Million in Kodiak Gas Services, Inc. $KGS

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Kodiak Gas Services, Inc. (NYSE:KGS) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 397,966 shares of the company’s stock, valued at approximately $29,899,000. Connor Clark & Lunn Investment Management Ltd. owned 0.39% of Kodiak Gas Services at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in Kodiak Gas Services by 1,501.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company’s stock worth $42,000 after buying an additional 1,156 shares in the last quarter. State of Wyoming boosted its position in Kodiak Gas Services by 201.7% in the 4th quarter. State of Wyoming now owns 1,219 shares of the company’s stock valued at $46,000 after buying an additional 815 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Kodiak Gas Services by 80.4% during the third quarter. PNC Financial Services Group Inc. now owns 1,449 shares of the company’s stock valued at $54,000 after acquiring an additional 646 shares in the last quarter. Harbor Investment Advisory LLC purchased a new stake in shares of Kodiak Gas Services during the second quarter worth about $76,000. Finally, Allworth Financial LP acquired a new position in shares of Kodiak Gas Services in the second quarter worth about $80,000. 24.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Kodiak Gas Services news, CAO Ewan William Hamilton sold 2,729 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $68.62, for a total value of $187,263.98. Following the transaction, the chief accounting officer owned 31,617 shares of the company’s stock, valued at $2,169,558.54. This trade represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert Michael Mckee sold 6,008 shares of Kodiak Gas Services stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $62.39, for a total value of $374,839.12. Following the completion of the transaction, the chief executive officer owned 298,589 shares of the company’s stock, valued at approximately $18,628,967.71. The trade was a 1.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 19,531 shares of company stock valued at $1,296,158 over the last quarter. Corporate insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on KGS. Weiss Ratings reissued a “hold (c+)” rating on shares of Kodiak Gas Services in a report on Friday, May 29th. Barclays cut their target price on Kodiak Gas Services from $76.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 8th. Citigroup increased their target price on Kodiak Gas Services from $63.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Royal Bank Of Canada raised their price target on shares of Kodiak Gas Services from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Finally, Zacks Research upgraded shares of Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $78.89.

Kodiak Gas Services Stock Down 3.6%

KGS stock opened at $59.25 on Tuesday. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 70.54, a PEG ratio of 0.89 and a beta of 0.98. Kodiak Gas Services, Inc. has a 1-year low of $32.55 and a 1-year high of $77.68. The firm has a fifty day moving average price of $64.99 and a two-hundred day moving average price of $62.71. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.45 and a quick ratio of 1.15.

Kodiak Gas Services (NYSE:KGS) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.12). Kodiak Gas Services had a return on equity of 11.92% and a net margin of 5.77%.The business had revenue of $391.12 million during the quarter, compared to the consensus estimate of $386.30 million. During the same quarter in the previous year, the business posted $0.43 earnings per share. The company’s quarterly revenue was up 21.2% compared to the same quarter last year. Research analysts predict that Kodiak Gas Services, Inc. will post 2.46 EPS for the current year.

Kodiak Gas Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Monday, August 17th will be paid a dividend of $0.49 per share. The ex-dividend date is Monday, August 17th. This represents a $1.96 annualized dividend and a yield of 3.3%. Kodiak Gas Services’s dividend payout ratio is 233.33%.

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.