Freestone Grove Partners LP Acquires Shares of 209,519 Kodiak Gas Services, Inc. $KGS

Freestone Grove Partners LP bought a new position in Kodiak Gas Services, Inc. (NYSE:KGS) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 209,519 shares of the company’s stock, valued at approximately $15,741,000.

Several other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Kodiak Gas Services by 1,501.3% during 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 boosted its stake in Kodiak Gas Services by 201.7% in the 4th quarter. State of Wyoming now owns 1,219 shares of the company’s stock worth $46,000 after purchasing an additional 815 shares during the period. PNC Financial Services Group Inc. grew its position in Kodiak Gas Services by 80.4% during the 3rd 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 in the last quarter. Harbor Investment Advisory LLC purchased a new position in Kodiak Gas Services during the 2nd quarter worth approximately $76,000. Finally, Allworth Financial LP acquired a new stake in Kodiak Gas Services during the 2nd quarter valued at $80,000. 24.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on KGS shares. The Goldman Sachs Group increased their target price on Kodiak Gas Services from $69.00 to $88.00 and gave the company a “buy” rating in a report on Friday, May 15th. Piper Sandler began coverage on Kodiak Gas Services in a report on Tuesday, July 28th. They set an “overweight” rating and a $78.00 price target on the stock. Zacks Research raised Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Stifel Nicolaus increased their price objective 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, Barclays decreased their price objective 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. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Kodiak Gas Services presently has a consensus rating of “Moderate Buy” and an average target price of $78.89.

Insider Buying and Selling at Kodiak Gas Services

In other Kodiak Gas Services news, insider Pedro R. Buhigas sold 4,625 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $67.78, for a total value of $313,482.50. Following the transaction, the insider owned 38,454 shares in the company, valued at $2,606,412.12. The trade was a 10.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO William Chad Lenamon sold 1,000 shares of the company’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $67.79, for a total value of $67,790.00. Following the completion of the transaction, the chief operating officer directly owned 87,294 shares in the company, valued at approximately $5,917,660.26. The trade was a 1.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 19,531 shares of company stock valued at $1,296,158 in the last quarter. Corporate insiders own 0.64% of the company’s stock.

Kodiak Gas Services Stock Down 0.4%

Kodiak Gas Services stock opened at $60.20 on Friday. The firm has a market cap of $6.09 billion, a PE ratio of 71.67, a P/E/G ratio of 0.87 and a beta of 0.97. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.15 and a current ratio of 1.45. The firm’s 50 day moving average price is $64.51 and its two-hundred day moving average price is $63.00. Kodiak Gas Services, Inc. has a twelve month low of $32.55 and a twelve month high of $77.68.

Kodiak Gas Services (NYSE:KGS) last issued its earnings results on Thursday, August 6th. The company reported $0.55 earnings per share (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 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 quarterly revenue was up 21.2% on a year-over-year basis. During the same period last year, the business earned $0.43 EPS. On average, research analysts predict that Kodiak Gas Services, Inc. will post 2.46 EPS for the current fiscal year.

Kodiak Gas Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Monday, August 17th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, August 17th. Kodiak Gas Services’s dividend payout ratio (DPR) is currently 233.33%.

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.