Kodiak Gas Services, Inc. $KGS Shares Sold by Tidal Investments LLC

Tidal Investments LLC lessened its stake in Kodiak Gas Services, Inc. (NYSE:KGS) by 33.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 31,572 shares of the company’s stock after selling 15,650 shares during the quarter. Tidal Investments LLC’s holdings in Kodiak Gas Services were worth $2,372,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in KGS. Public Employees Retirement System of Ohio acquired a new stake in shares of Kodiak Gas Services in the second quarter valued at about $29,000. Harbor Investment Advisory LLC acquired a new position in shares of Kodiak Gas Services during the 2nd quarter worth about $76,000. Allworth Financial LP acquired a new position in shares of Kodiak Gas Services during the 2nd quarter worth about $80,000. Hilltop National Bank purchased a new position in Kodiak Gas Services in the 2nd quarter valued at about $102,000. Finally, PNC Financial Services Group Inc. lifted its stake 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 in the last quarter. 24.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Piper Sandler initiated coverage on Kodiak Gas Services in a report on Tuesday, July 28th. They issued an “overweight” rating and a $78.00 price objective on the stock. Jefferies Financial Group decreased their target price on Kodiak Gas Services from $79.00 to $69.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Stifel Nicolaus lifted their price target on Kodiak Gas Services from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Barclays dropped their price target on Kodiak Gas Services from $76.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, July 8th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kodiak Gas Services in a report on Wednesday, August 26th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Kodiak Gas Services currently has a consensus rating of “Moderate Buy” and an average price target of $78.89.

Insiders Place Their Bets

In other Kodiak Gas Services news, EVP Cory Roclawski sold 4,169 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $68.36, for a total value of $284,992.84. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO William Lenamon sold 1,000 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $63.21, for a total transaction of $63,210.00. Following the completion of the sale, the chief operating officer directly owned 85,294 shares of the company’s stock, valued at approximately $5,391,433.74. This trade represents a 1.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,176 shares of company stock valued at $1,146,633 over the last ninety days. Company insiders own 0.64% of the company’s stock.

Kodiak Gas Services Stock Up 1.6%

Shares of KGS opened at $57.51 on Wednesday. Kodiak Gas Services, Inc. has a 52-week low of $32.55 and a 52-week high of $77.68. The company has a market capitalization of $5.81 billion, a PE ratio of 68.46, a price-to-earnings-growth ratio of 0.83 and a beta of 0.96. The stock has a fifty day simple moving average of $61.91 and a two-hundred day simple moving average of $63.92. 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 announced its quarterly earnings results on Thursday, August 6th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.12). The firm had revenue of $391.12 million for the quarter, compared to analyst estimates of $386.30 million. Kodiak Gas Services had a net margin of 5.77% and a return on equity of 11.92%. The company’s revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 EPS. As a group, equities analysts forecast that Kodiak Gas Services, Inc. will post 2.44 EPS for the current year.

Kodiak Gas Services Dividend Announcement

The company 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 of this dividend was Monday, August 17th. This represents a $1.96 dividend on an annualized basis and a yield of 3.4%. Kodiak Gas Services’s payout ratio is 233.33%.

About Kodiak Gas Services

Kodiak Gas Services, Inc (NYSE: KGS) provides natural gas compression services to producers, processors, gatherers and other midstream companies in the United States. Its compression equipment increases and maintains the pressure of natural gas as it moves from production sites through gathering systems, processing facilities and pipelines.

The company primarily operates under long-term contracts and offers compression-as-a-service solutions. Its services include the design, installation, operation, maintenance, repair and overhaul of natural gas compression equipment.