Kodiak Gas Services (NYSE:KGS) Stock: Insider Robert Michael Mckee Sells 2,666 Shares

Kodiak Gas Services, Inc. (NYSE:KGS) CEO Robert McKee sold 2,666 shares of the stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $45.55, for a total transaction of $121,436.30. Following the sale, the chief executive officer owned 287,258 shares in the company, valued at approximately $13,084,601.90. The trade was a 0.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Robert Michael Mckee also recently made the following trade(s):

• On Monday, October 5th, Robert McKee sold 2,666 shares of Kodiak Gas Services stock. The shares were sold at an average price of $53.95, for a total transaction of $143,830.70.
• On Tuesday, September 1st, Robert McKee sold 5,999 shares of Kodiak Gas Services stock. The stock was sold at an average price of $59.31, for a total transaction of $355,800.69.
• On Wednesday, August 19th, Robert McKee sold 6,008 shares of Kodiak Gas Services stock. The stock was sold at an average price of $62.39, for a total transaction of $374,839.12.

Kodiak Gas Services Stock Performance

KGS stock opened at $38.92 on Friday. The stock has a market capitalization of $3.95 billion, a PE ratio of 21.72 and a beta of 1.07. Kodiak Gas Services, Inc. has a 12-month low of $32.55 and a 12-month high of $77.68. The company has a current ratio of 1.45, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28. The stock’s 50 day simple moving average is $53.23 and its 200 day simple moving average is $59.07.

Kodiak Gas Services (NYSE:KGS) last issued its earnings results 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 quarter in the prior year, the business posted $0.43 earnings per share. The business’s revenue for the quarter was up 21.2% on a year-over-year basis. As a group, research analysts forecast that Kodiak Gas Services, Inc. will post 2.43 earnings per share for the current fiscal year.

Kodiak Gas Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, November 16th will be given a $0.51 dividend. This is a positive change from Kodiak Gas Services’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, November 16th. This represents a $2.04 dividend on an annualized basis and a yield of 5.2%. Kodiak Gas Services’s payout ratio is presently 233.33%.

More Kodiak Gas Services News

Here are the key news stories impacting Kodiak Gas Services this week:

• Positive Sentiment: The board raised the quarterly cash dividend 4.1% to $0.51 per share, payable November 25 to shareholders of record November 16. That equals $2.04 annualized and an indicated yield of about 5%, supporting the income case for KGS. Kodiak Gas Services Announces Quarterly Dividend
• Neutral Sentiment: Analyst sentiment remains broadly favorable: the consensus rating is “Moderate Buy,” with an average target price of $79.18. Targets are not a guarantee of future performance, and the stock’s recent weakness may reflect near-term market pressure. Consensus target price
• Negative Sentiment: KGS came under pressure amid sector-wide selling, which appears to be a near-term headwind independent of the dividend announcement. Kodiak Gas Services Drops Amid Sector-Wide Selling
• Negative Sentiment: CEO Robert McKee sold 2,666 shares for about $121,436. The sale reduced his direct ownership by 0.92%, though he retained 287,258 shares; the limited size may temper its significance. CEO stock sale

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of 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. UBS Group restated a “buy” rating on shares of Kodiak Gas Services in a research report on Friday, October 16th. Barclays dropped their target price on shares of Kodiak Gas Services from $72.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. Jefferies Financial Group cut their target price on shares of Kodiak Gas Services from $69.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, October 8th. Finally, Bank of America decreased their target price on shares of Kodiak Gas Services from $83.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, October 27th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $79.18.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Kodiak Gas Services during the 2nd quarter worth approximately $1,142,139,000. Dimensional Fund Advisors LP lifted its holdings in Kodiak Gas Services by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,105,555 shares of the company’s stock valued at $181,108,000 after purchasing an additional 135,998 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of 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 worth $182,729,000 after purchasing an additional 1,117,743 shares during the period. Bank of America Corp DE boosted its position in shares of Kodiak Gas Services by 16.6% in the first quarter. Bank of America Corp DE now owns 1,537,818 shares of the company’s stock worth $89,686,000 after purchasing an additional 219,214 shares during the period. Finally, Kayne Anderson Capital Advisors LP bought a new position in shares of Kodiak Gas Services in the second quarter worth approximately $84,821,000. 24.95% of the stock is owned by hedge funds and other institutional investors.

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.