VIRGINIA RETIREMENT SYSTEMS ET Al Invests $4.02 Million in Kodiak Gas Services, Inc. $KGS

VIRGINIA RETIREMENT SYSTEMS ET Al 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 53,500 shares of the company’s stock, valued at approximately $4,019,000.

A number of other large investors have also added to or reduced their stakes in KGS. Van ECK Associates Corp increased its stake in Kodiak Gas Services by 0.9% during the 4th quarter. Van ECK Associates Corp now owns 23,640 shares of the company’s stock worth $884,000 after buying an additional 209 shares during the period. PNC Financial Services Group Inc. boosted its position in Kodiak Gas Services by 29.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,545 shares of the company’s stock valued at $90,000 after buying an additional 352 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Kodiak Gas Services during the second quarter valued at about $29,000. Aurora Investment Counsel increased its position in shares of Kodiak Gas Services by 0.6% during the fourth quarter. Aurora Investment Counsel now owns 67,192 shares of the company’s stock worth $2,513,000 after acquiring an additional 397 shares during the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Kodiak Gas Services by 2.7% during the second quarter. Captrust Financial Advisors now owns 16,925 shares of the company’s stock worth $580,000 after acquiring an additional 448 shares during the last quarter. 24.95% of the stock is owned by institutional investors and hedge funds.

Kodiak Gas Services Stock Down 0.2%

Shares of Kodiak Gas Services stock opened at $63.98 on Thursday. The business has a 50-day moving average price of $62.50 and a 200 day moving average price of $63.67. Kodiak Gas Services, Inc. has a fifty-two week low of $32.55 and a fifty-two week high of $77.68. The firm has a market cap of $6.47 billion, a P/E ratio of 76.17, a P/E/G ratio of 0.93 and a beta of 0.96. The company has a quick ratio of 1.15, a current ratio of 1.45 and a debt-to-equity ratio of 1.28.

Kodiak Gas Services (NYSE:KGS) last released its earnings results on Thursday, August 6th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.12). The firm had revenue of $391.12 million for the quarter, compared to the consensus estimate of $386.30 million. Kodiak Gas Services had a return on equity of 11.92% and a net margin of 5.77%.The company’s quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.43 EPS. On average, sell-side analysts forecast that Kodiak Gas Services, Inc. will post 2.44 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Monday, August 17th were paid a dividend of $0.49 per share. The ex-dividend date was Monday, August 17th. This represents a $1.96 annualized dividend and a yield of 3.1%. Kodiak Gas Services’s payout ratio is presently 233.33%.

Insider Activity

In other news, CEO Robert McKee sold 5,999 shares of Kodiak Gas Services stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $59.31, for a total value of $355,800.69. Following the completion of the transaction, the chief executive officer directly owned 292,590 shares of the company’s stock, valued at approximately $17,353,512.90. The trade was a 2.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO William Lenamon sold 1,000 shares of the business’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $67.79, for a total transaction of $67,790.00. Following the sale, the chief operating officer directly owned 87,294 shares of the company’s stock, valued at approximately $5,917,660.26. This represents a 1.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 24,530 shares of company stock valued at $1,584,169 over the last quarter. 0.64% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on KGS shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Kodiak Gas Services in a report on Wednesday, August 26th. Wells Fargo & Company began coverage on Kodiak Gas Services in a report on Wednesday, May 27th. They set an “overweight” rating and a $93.00 price objective on the stock. Piper Sandler assumed coverage on Kodiak Gas Services in a research report on Tuesday, July 28th. They issued an “overweight” rating and a $78.00 target price on the stock. The Goldman Sachs Group increased their target price on Kodiak Gas Services from $69.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, 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. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.89.

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