State of Alaska Department of Revenue Sells 13,844 Shares of Kodiak Gas Services, Inc. $KGS

State of Alaska Department of Revenue decreased its holdings in Kodiak Gas Services, Inc. (NYSE:KGS) by 39.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 21,525 shares of the company’s stock after selling 13,844 shares during the quarter. State of Alaska Department of Revenue’s holdings in Kodiak Gas Services were worth $1,139,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of KGS. BlackRock Inc. bought a new stake in shares of Kodiak Gas Services during the 2nd quarter worth $1,142,139,000. Wellington Management Group LLP boosted its stake in Kodiak Gas Services by 85.0% in the second quarter. Wellington Management Group LLP now owns 2,432,174 shares of the company’s stock valued at $182,729,000 after buying an additional 1,117,743 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Kodiak Gas Services by 4.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,105,555 shares of the company’s stock valued at $181,108,000 after buying an additional 135,998 shares in the last quarter. Bank of America Corp DE bought a new position in Kodiak Gas Services in the second quarter valued at about $109,850,000. Finally, Kayne Anderson Capital Advisors LP bought a new position in Kodiak Gas Services in the second quarter valued at about $84,821,000. Institutional investors and hedge funds own 24.95% of the company’s stock.

Analyst Ratings Changes

KGS has been the subject of several research analyst reports. Mizuho set a $72.00 target price on Kodiak Gas Services in a research note on Monday, October 12th. Citigroup dropped their target price on shares of Kodiak Gas Services from $86.00 to $82.00 and set a “buy” rating for the company in a report on Friday, October 9th. Piper Sandler started coverage on shares of Kodiak Gas Services in a research note on Tuesday, July 28th. They issued an “overweight” rating and a $78.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on shares of Kodiak Gas Services from $79.00 to $78.00 and set an “overweight” rating on the stock in a report on Thursday, October 8th. Finally, Jefferies Financial Group decreased their price target on shares of Kodiak Gas Services from $69.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, October 8th. Twelve analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Kodiak Gas Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.70.

Insiders Place Their Bets

In other news, COO William Lenamon sold 1,000 shares of Kodiak Gas Services stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $53.25, for a total transaction of $53,250.00. Following the sale, the chief operating officer directly owned 84,294 shares of the company’s stock, valued at approximately $4,488,655.50. This trade represents a 1.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert McKee sold 6,008 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $62.39, for a total value of $374,839.12. Following the sale, the chief executive officer owned 298,589 shares in the company, valued at approximately $18,628,967.71. This trade represents a 1.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 20,336 shares of company stock valued at $1,203,897 in the last 90 days. Corporate insiders own 0.64% of the company’s stock.

Kodiak Gas Services Stock Up 0.5%

Shares of NYSE:KGS opened at $47.39 on Wednesday. Kodiak Gas Services, Inc. has a 52-week low of $32.55 and a 52-week high of $77.68. The company has a market capitalization of $4.80 billion, a PE ratio of 56.42 and a beta of 1.01. 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 company has a fifty day moving average of $57.17 and a 200-day moving average of $63.27.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.12). Kodiak Gas Services had a net margin of 5.77% and a return on equity of 11.92%. The firm had revenue of $391.12 million for the quarter, compared to analyst estimates of $386.30 million. During the same period last year, the business earned $0.43 EPS. The company’s revenue was up 21.2% compared to the same quarter last year. On average, equities 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 announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Monday, August 17th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Monday, August 17th. Kodiak Gas Services’s dividend payout ratio is presently 233.33%.

Kodiak Gas Services Profile

Kodiak Gas Services, Inc (NYSE: KGS) provides contract compression and related infrastructure services to the North American oil and gas industry. The company helps producers and midstream operators move natural gas through gathering systems, processing facilities and pipelines by supplying compression equipment and operating it under long-term service arrangements.

Its services include the design, installation, operation and maintenance of natural gas compression systems. Kodiak owns and manages a fleet of compression units that can be deployed across a range of applications, including natural gas gathering and processing.