Kodiak Gas Services, Inc. $KGS Stock Holdings Decreased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its position in Kodiak Gas Services, Inc. (NYSE:KGS) by 40.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 31,700 shares of the company’s stock after selling 21,800 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Kodiak Gas Services were worth $1,679,000 at the end of the most recent reporting period.

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

Insider Transactions at Kodiak Gas Services

In other news, COO William Lenamon sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $53.25, for a total value of $53,250.00. Following the completion of the transaction, the chief operating officer owned 84,294 shares of the company’s stock, valued at $4,488,655.50. The trade was a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert McKee sold 2,666 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $53.95, for a total transaction of $143,830.70. Following the transaction, the chief executive officer directly owned 289,924 shares in the company, valued at $15,641,399.80. The trade was a 0.91% 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 over the last ninety days. 0.64% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on KGS. Bank of America reduced their price target on shares of Kodiak Gas Services from $83.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday, October 27th. JPMorgan Chase & Co. lowered 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 research report on Thursday, October 8th. Mizuho set a $72.00 price objective on shares of Kodiak Gas Services in a research note on Monday, October 12th. UBS Group restated a “buy” rating on shares of Kodiak Gas Services in a research report on Friday, October 16th. Finally, Stifel Nicolaus upped their target price on Kodiak Gas Services from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $79.18.

Kodiak Gas Services Trading Up 4.8%

Kodiak Gas Services stock opened at $46.58 on Wednesday. The stock has a 50-day moving average price of $54.02 and a 200 day moving average price of $59.04. Kodiak Gas Services, Inc. has a 52 week low of $32.55 and a 52 week high of $77.68. The stock has a market cap of $4.72 billion, a PE ratio of 23.40 and a beta of 1.07. The company has a current ratio of 1.45, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28.

Kodiak Gas Services (NYSE:KGS) last released 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). 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 during the quarter, compared to analysts’ expectations of $386.30 million. During the same quarter last year, the company posted $0.43 earnings per share. Kodiak Gas Services’s revenue for the quarter was up 21.2% on a year-over-year basis. Equities research analysts predict that Kodiak Gas Services, Inc. will post 2.43 earnings per share for the current fiscal year.

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.