Hsbc Holdings PLC Purchases Shares of 21,131 Kodiak Gas Services, Inc. $KGS

Hsbc Holdings PLC acquired a new position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 21,131 shares of the company’s stock, valued at approximately $788,000.

Several other institutional investors have also modified their holdings of KGS. Rockefeller Capital Management L.P. boosted its holdings in shares of Kodiak Gas Services by 262.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 33,767 shares of the company’s stock valued at $1,263,000 after buying an additional 24,459 shares in the last quarter. Invesco Ltd. raised its stake in Kodiak Gas Services by 20.4% during the 4th 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 in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in Kodiak Gas Services by 1.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 79,224 shares of the company’s stock worth $2,963,000 after acquiring an additional 1,234 shares in the last quarter. State of Tennessee Department of Treasury raised its stake in Kodiak Gas Services by 134.8% during the 4th quarter. State of Tennessee Department of Treasury now owns 28,736 shares of the company’s stock worth $1,075,000 after acquiring an additional 16,495 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in Kodiak Gas Services by 35.8% in the fourth quarter. Mackenzie Financial Corp now owns 13,471 shares of the company’s stock valued at $502,000 after acquiring an additional 3,552 shares during the last quarter. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on KGS shares. 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. Wells Fargo & Company assumed coverage on Kodiak Gas Services in a research report on Wednesday, May 27th. They set an “overweight” rating and a $93.00 target price on the stock. Royal Bank Of Canada boosted their target price on Kodiak Gas Services from $64.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, May 18th. Citigroup upped their target price on Kodiak Gas Services from $63.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Finally, Jefferies Financial Group started coverage on Kodiak Gas Services in a research note on Thursday, June 4th. They set a “buy” rating and a $79.00 price target on the stock. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $79.50.

Insiders Place Their Bets

In related news, EVP Cory Anne Roclawski sold 4,169 shares of Kodiak Gas Services stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $68.36, for a total value of $284,992.84. Following the sale, the executive vice president directly owned 24,662 shares in the company, valued at $1,685,894.32. The trade was a 14.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Pedro R. Buhigas sold 4,625 shares of Kodiak Gas Services stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $67.78, for a total value of $313,482.50. Following the completion of the sale, the insider owned 38,454 shares in the company, valued at approximately $2,606,412.12. This trade represents a 10.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,523 shares of company stock valued at $921,319 over the last 90 days. 0.64% of the stock is owned by corporate insiders.

Kodiak Gas Services Trading Up 3.8%

NYSE KGS opened at $69.08 on Wednesday. The stock has a market capitalization of $6.13 billion, a P/E ratio of 93.36, a P/E/G ratio of 1.04 and a beta of 0.89. Kodiak Gas Services, Inc. has a 52-week low of $30.06 and a 52-week high of $77.68. The firm has a 50-day moving average price of $70.34 and a 200 day moving average price of $57.97. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 2.38.

Kodiak Gas Services (NYSE:KGS) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. Kodiak Gas Services had a net margin of 5.13% and a return on equity of 13.12%. The firm had revenue of $345.76 million during the quarter, compared to the consensus estimate of $340.23 million. During the same quarter last year, the firm earned $0.33 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts expect that Kodiak Gas Services, Inc. will post 2.27 EPS for the current year.

Kodiak Gas Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, May 18th. Kodiak Gas Services’s dividend payout ratio (DPR) is currently 264.86%.

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