Castleark Management LLC Takes $1.15 Million Position in Kodiak Gas Services, Inc. $KGS

Castleark Management LLC bought a new stake in Kodiak Gas Services, Inc. (NYSE:KGS) during the second quarter, HoldingsChannel reports. The firm bought 15,320 shares of the company’s stock, valued at approximately $1,151,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Advisors Preferred LLC acquired a new stake in Kodiak Gas Services in the second quarter valued at approximately $1,986,000. Crown Advisors Management Inc. bought a new position in shares of Kodiak Gas Services during the second quarter valued at about $4,508,000. Charles Schwab Investment Management Inc. increased its stake in Kodiak Gas Services by 29.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 901,406 shares of the company’s stock valued at $33,713,000 after buying an additional 203,809 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Kodiak Gas Services by 40.5% during the 4th quarter. HighTower Advisors LLC now owns 57,699 shares of the company’s stock worth $2,158,000 after buying an additional 16,619 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Kodiak Gas Services by 4.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,105,555 shares of the company’s stock worth $181,108,000 after buying an additional 135,998 shares in the last quarter. Institutional investors own 24.95% of the company’s stock.

Insiders Place Their Bets

In other Kodiak Gas Services news, COO William Chad Lenamon sold 1,000 shares of the stock in a transaction on Monday, July 13th. The stock was sold at an average price of $67.79, for a total transaction of $67,790.00. Following the sale, the chief operating officer owned 87,294 shares in the company, valued at $5,917,660.26. This represents a 1.13% decrease in their ownership of the stock. The transaction 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 the firm’s stock in a transaction on Wednesday, August 19th. The stock was 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 directly owned 298,589 shares of the company’s stock, valued at $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 sold 19,531 shares of company stock worth $1,296,158 in the last three months. Insiders own 0.64% of the company’s stock.

Kodiak Gas Services Trading Up 2.6%

Shares of Kodiak Gas Services stock opened at $60.45 on Thursday. The stock has a market capitalization of $6.11 billion, a P/E ratio of 71.97, a P/E/G ratio of 0.85 and a beta of 0.97. Kodiak Gas Services, Inc. has a 52-week low of $32.55 and a 52-week high of $77.68. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.15 and a current ratio of 1.45. The stock’s 50-day simple moving average is $64.69 and its 200 day simple moving average is $62.92.

Kodiak Gas Services (NYSE:KGS) last issued its earnings results on Thursday, August 6th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.12). The business 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%.Kodiak Gas Services’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.43 EPS. As a group, research analysts anticipate that Kodiak Gas Services, Inc. will post 2.46 EPS for the current year.

Kodiak Gas Services Announces Dividend

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 $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, August 17th. Kodiak Gas Services’s payout ratio is currently 233.33%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Piper Sandler assumed coverage on Kodiak Gas Services in a report on Tuesday, July 28th. They issued an “overweight” rating and a $78.00 target price for the company. Jefferies Financial Group dropped their price target on Kodiak Gas Services from $79.00 to $69.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Wells Fargo & Company began coverage on Kodiak Gas Services in a research report on Wednesday, May 27th. They issued an “overweight” rating and a $93.00 price objective on the stock. Stifel Nicolaus raised their target price on Kodiak Gas Services from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Finally, Zacks Research raised shares of Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $78.89.

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.