Encompass Capital Advisors LLC Sells 529,258 Shares of Kodiak Gas Services, Inc. $KGS

Encompass Capital Advisors LLC trimmed its stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 32.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,090,200 shares of the company’s stock after selling 529,258 shares during the quarter. Kodiak Gas Services accounts for 1.6% of Encompass Capital Advisors LLC’s portfolio, making the stock its 29th largest holding. Encompass Capital Advisors LLC owned approximately 1.23% of Kodiak Gas Services worth $40,664,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Amalgamated Bank lifted its position in shares of Kodiak Gas Services by 40.0% during the 1st quarter. Amalgamated Bank now owns 1,554 shares of the company’s stock worth $58,000 after buying an additional 444 shares during the period. United Advisor Group LLC raised its stake in Kodiak Gas Services by 4.4% during the fourth quarter. United Advisor Group LLC now owns 12,281 shares of the company’s stock worth $501,000 after acquiring an additional 519 shares in the last quarter. Comerica Bank raised its stake in Kodiak Gas Services by 710.1% during the fourth quarter. Comerica Bank now owns 721 shares of the company’s stock worth $29,000 after acquiring an additional 632 shares in the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of Kodiak Gas Services by 4.2% during the first quarter. Kestra Private Wealth Services LLC now owns 19,414 shares of the company’s stock valued at $724,000 after acquiring an additional 780 shares during the period. Finally, Quarry LP acquired a new stake in shares of Kodiak Gas Services in the 1st quarter valued at $30,000. 24.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KGS has been the topic of a number of recent analyst reports. Mizuho boosted their price target on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. JPMorgan Chase & Co. restated a “buy” rating and set a $43.00 price target (up from $42.00) on shares of Kodiak Gas Services in a research report on Monday, June 23rd. Royal Bank Of Canada raised their price target on Kodiak Gas Services from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Wednesday, August 13th. Finally, Barclays increased their target price on Kodiak Gas Services from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Thursday, August 14th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $41.30.

Kodiak Gas Services Price Performance

Shares of KGS opened at $35.41 on Thursday. The stock has a market cap of $3.11 billion, a P/E ratio of 39.35 and a beta of 1.34. Kodiak Gas Services, Inc. has a 1 year low of $25.21 and a 1 year high of $50.43. The stock’s 50-day moving average price is $33.46 and its two-hundred day moving average price is $35.23. The company has a current ratio of 1.10, a quick ratio of 0.78 and a debt-to-equity ratio of 1.89.

Kodiak Gas Services (NYSE:KGS) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Kodiak Gas Services had a return on equity of 10.35% and a net margin of 6.48%.The company had revenue of $322.84 million during the quarter, compared to analysts’ expectations of $335.10 million. During the same period in the prior year, the business posted $0.06 EPS. Kodiak Gas Services’s revenue was up 4.2% on a year-over-year basis. On average, equities analysts predict that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current year.

Kodiak Gas Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 4th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend was Monday, August 4th. Kodiak Gas Services’s dividend payout ratio (DPR) is currently 200.00%.

Kodiak Gas Services announced that its board has approved a share buyback plan on Monday, August 11th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 1.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.