Insider Selling: Kodiak Gas Services (NYSE:KGS) CEO Sells 6,008 Shares

Kodiak Gas Services, Inc. (NYSE:KGS) CEO Robert Michael Mckee sold 6,008 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $62.39, for a total value of $374,839.12. Following the transaction, the chief executive officer directly owned 298,589 shares of the company’s stock, valued at $18,628,967.71. This trade represents a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Kodiak Gas Services Stock Performance

Shares of NYSE KGS traded up $0.32 during mid-day trading on Thursday, hitting $60.35. The company had a trading volume of 1,645,915 shares, compared to its average volume of 1,678,553. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 71.85, a PEG ratio of 0.91 and a beta of 0.97. Kodiak Gas Services, Inc. has a 12 month low of $32.55 and a 12 month high of $77.68. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.45 and a quick ratio of 1.15. The firm’s 50 day simple moving average is $65.48 and its two-hundred day simple moving average is $62.32.

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

Kodiak Gas Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Monday, August 17th will be paid a $0.49 dividend. The ex-dividend date is Monday, August 17th. This represents a $1.96 annualized dividend and a dividend yield of 3.2%. Kodiak Gas Services’s dividend payout ratio (DPR) is presently 233.33%.

Analyst Ratings Changes

Several brokerages have recently issued reports on KGS. Jefferies Financial Group reduced their price objective on Kodiak Gas Services from $79.00 to $69.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Wells Fargo & Company began coverage on Kodiak Gas Services in a research report on Wednesday, May 27th. They set an “overweight” rating and a $93.00 price target for the company. Royal Bank Of Canada increased their price target on Kodiak Gas Services from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. Stifel Nicolaus lifted their price objective on shares of Kodiak Gas Services from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Finally, Barclays decreased their target price on shares of 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. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.89.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KGS. Public Employees Retirement System of Ohio acquired a new stake in Kodiak Gas Services in the 2nd quarter valued at about $29,000. Harbor Investment Advisory LLC bought a new stake in shares of Kodiak Gas Services in the 2nd quarter worth approximately $76,000. Allworth Financial LP bought a new stake in Kodiak Gas Services during the second quarter worth approximately $80,000. State of Wyoming grew its position in Kodiak Gas Services by 201.7% in the fourth quarter. State of Wyoming now owns 1,219 shares of the company’s stock worth $46,000 after buying an additional 815 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Kodiak Gas Services by 1,501.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company’s stock valued at $42,000 after buying an additional 1,156 shares in the last quarter. 24.95% of the stock is owned by institutional investors and hedge funds.

About Kodiak Gas Services

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.