Ramirez Asset Management Inc. Boosts Stake in Kodiak Gas Services, Inc. $KGS

Ramirez Asset Management Inc. lifted its stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 446.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 86,970 shares of the company’s stock after acquiring an additional 71,045 shares during the period. Ramirez Asset Management Inc. owned approximately 0.10% of Kodiak Gas Services worth $3,215,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Invesco Ltd. increased its stake in Kodiak Gas Services by 59.9% in the second quarter. Invesco Ltd. now owns 4,869,346 shares of the company’s stock valued at $166,872,000 after acquiring an additional 1,824,407 shares during the last quarter. Vanguard Group Inc. lifted its stake in Kodiak Gas Services by 41.3% during the third quarter. Vanguard Group Inc. now owns 4,611,188 shares of the company’s stock worth $170,476,000 after purchasing an additional 1,348,357 shares during the last quarter. Deprince Race & Zollo Inc. bought a new stake in Kodiak Gas Services during the third quarter worth about $28,385,000. Goldman Sachs Group Inc. boosted its holdings in shares of Kodiak Gas Services by 58.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,983,360 shares of the company’s stock worth $73,979,000 after purchasing an additional 730,180 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Kodiak Gas Services by 2,201.6% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 617,151 shares of the company’s stock worth $21,150,000 after purchasing an additional 590,337 shares in the last quarter. 24.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on KGS. Wall Street Zen raised Kodiak Gas Services from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Citigroup upped their target price on Kodiak Gas Services from $53.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Barclays increased their price target on shares of Kodiak Gas Services from $49.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday. Zacks Research downgraded shares of Kodiak Gas Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Kodiak Gas Services in a report on Monday, December 29th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.25.

Kodiak Gas Services Trading Down 1.9%

Shares of KGS stock opened at $55.33 on Friday. The business has a 50-day moving average of $44.61 and a 200 day moving average of $38.46. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.84 and a quick ratio of 0.57. Kodiak Gas Services, Inc. has a 1-year low of $29.25 and a 1-year high of $58.50. The stock has a market capitalization of $4.75 billion, a PE ratio of 63.60 and a beta of 1.11.

Kodiak Gas Services (NYSE:KGS) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.13). Kodiak Gas Services had a return on equity of 11.55% and a net margin of 6.16%.The company had revenue of $332.87 million during the quarter, compared to analysts’ expectations of $330.95 million. During the same period last year, the firm earned $0.21 earnings per share. Kodiak Gas Services’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current year.

Kodiak Gas Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 13th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, February 13th. Kodiak Gas Services’s payout ratio is presently 225.29%.

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.