Kodiak Gas Services (NYSE:KGS) Trading Down 8.7% After Insider Selling

Kodiak Gas Services, Inc. (NYSE:KGS)’s share price was down 8.7% on Monday following insider selling activity. The company traded as low as $57.66 and last traded at $58.3050. 538,861 shares traded hands during trading, a decline of 68% from the average daily volume of 1,667,090 shares. The stock had previously closed at $63.85.

Specifically, COO William Lenamon sold 1,000 shares of the firm’s stock in a transaction 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 sale, the chief operating officer owned 85,294 shares in the company, valued at approximately $5,391,433.74. This trade represents a 1.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on KGS shares. Royal Bank Of Canada upped their target price on shares of Kodiak Gas Services from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Jefferies Financial Group reduced their price objective 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. Weiss Ratings restated a “hold (c+)” rating on shares of Kodiak Gas Services in a research report on Wednesday, August 26th. Stifel Nicolaus upped their target price 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. Finally, Wells Fargo & Company started coverage on shares of Kodiak Gas Services in a research report on Wednesday, May 27th. They set an “overweight” rating and a $93.00 price target on the stock. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $78.89.

Kodiak Gas Services Stock Performance

The company has a market cap of $5.89 billion, a P/E ratio of 69.33, a price-to-earnings-growth ratio of 0.93 and a beta of 0.96. The business has a 50 day moving average price of $62.31 and a two-hundred day moving average price of $63.85. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.15 and a current ratio of 1.45.

Kodiak Gas Services (NYSE:KGS) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.12). Kodiak Gas Services had a return on equity of 11.92% and a net margin of 5.77%.The company had revenue of $391.12 million for the quarter, compared to the consensus estimate of $386.30 million. During the same quarter in the previous year, the business earned $0.43 earnings per share. Kodiak Gas Services’s revenue was up 21.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Kodiak Gas Services, Inc. will post 2.44 earnings per share for the current year.

Kodiak Gas Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Monday, August 17th were issued a $0.49 dividend. The ex-dividend date was Monday, August 17th. This represents a $1.96 annualized dividend and a dividend yield of 3.4%. Kodiak Gas Services’s dividend payout ratio (DPR) is currently 233.33%.

Institutional Investors Weigh In On Kodiak Gas Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KGS. Public Employees Retirement System of Ohio purchased a new stake in Kodiak Gas Services during the 2nd quarter valued at $29,000. EverSource Wealth Advisors LLC increased its position 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 acquiring an additional 1,156 shares during the period. State of Wyoming raised its stake in shares of Kodiak Gas Services by 201.7% during the fourth quarter. State of Wyoming now owns 1,219 shares of the company’s stock valued at $46,000 after acquiring an additional 815 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Kodiak Gas Services by 80.4% during the third quarter. PNC Financial Services Group Inc. now owns 1,449 shares of the company’s stock worth $54,000 after purchasing an additional 646 shares during the period. Finally, Core Capital Management & Research inc. purchased a new stake in shares of Kodiak Gas Services during the second quarter worth about $64,000. 24.95% of the stock is currently owned by institutional investors.

Kodiak Gas Services Company Profile

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.