CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Buys 428,000 Shares of Kodiak Gas Services, Inc. $KGS

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in Kodiak Gas Services, Inc. (NYSE:KGS) by 142.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 728,000 shares of the company’s stock after buying an additional 428,000 shares during the period. Kodiak Gas Services makes up about 1.8% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings, making the stock its 17th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Kodiak Gas Services were worth $38,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in shares of Kodiak Gas Services during the 2nd quarter valued at about $29,000. Core Capital Management & Research inc. bought a new stake in Kodiak Gas Services in the 2nd quarter worth $64,000. Harbor Investment Advisory LLC purchased a new position in Kodiak Gas Services during the 2nd quarter valued at about $76,000. Allworth Financial LP bought a new position in shares of Kodiak Gas Services during the second quarter valued at approximately $80,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Kodiak Gas Services by 29.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,545 shares of the company’s stock worth $90,000 after purchasing an additional 352 shares during the period. Institutional investors own 24.95% of the company’s stock.

Kodiak Gas Services Price Performance

Shares of KGS opened at $45.44 on Tuesday. The company has a market capitalization of $4.61 billion, a P/E ratio of 54.09 and a beta of 1.01. The firm has a 50 day moving average of $55.78 and a 200 day moving average of $58.72. Kodiak Gas Services, Inc. has a twelve month low of $32.55 and a twelve month high of $77.68. The company has a quick ratio of 1.15, a current ratio of 1.45 and a debt-to-equity ratio of 1.28.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.55 EPS 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 business had revenue of $391.12 million for the quarter, compared to analysts’ expectations of $386.30 million. During the same period last year, the business earned $0.43 earnings per share. The company’s quarterly revenue was up 21.2% on a year-over-year basis. As a group, equities research analysts anticipate that Kodiak Gas Services, Inc. will post 2.46 earnings per share for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Monday, August 17th were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Monday, August 17th. Kodiak Gas Services’s dividend payout ratio (DPR) is 233.33%.

Insider Buying and Selling at Kodiak Gas Services

In other news, insider Pedro Buhigas sold 3,663 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $58.14, for a total transaction of $212,966.82. Following the completion of the sale, the insider owned 32,413 shares of the company’s stock, valued at $1,884,491.82. This represents a 10.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO William Lenamon sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $53.25, for a total transaction of $53,250.00. Following the completion of the transaction, the chief operating officer directly owned 84,294 shares in the company, valued at approximately $4,488,655.50. The trade was a 1.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 20,336 shares of company stock worth $1,203,897 in the last three months. 0.64% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

KGS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their target price on Kodiak Gas Services from $79.00 to $78.00 and set an “overweight” rating for the company in a research note on Thursday, October 8th. Mizuho set a $72.00 price target on Kodiak Gas Services in a research note on Monday, October 12th. Jefferies Financial Group decreased their price objective on Kodiak Gas Services from $69.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, October 8th. Royal Bank Of Canada lowered their price objective on Kodiak Gas Services from $88.00 to $82.00 and set an “outperform” rating for the company in a research report on Friday, October 16th. Finally, Stifel Nicolaus boosted their target price on shares of Kodiak Gas Services from $90.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Twelve analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.70.

About Kodiak Gas Services

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.