Algert Global LLC Takes Position in Kodiak Gas Services, Inc. $KGS

Algert Global LLC bought a new position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) in the 1st quarter, HoldingsChannel reports. The institutional investor bought 155,650 shares of the company’s stock, valued at approximately $5,806,000.

Other institutional investors have also recently made changes to their positions in the company. Encompass Capital Advisors LLC purchased a new stake in Kodiak Gas Services in the fourth quarter valued at $66,122,000. Zimmer Partners LP lifted its holdings in shares of Kodiak Gas Services by 88.1% in the 4th quarter. Zimmer Partners LP now owns 3,347,700 shares of the company’s stock valued at $136,687,000 after buying an additional 1,567,849 shares during the period. Merewether Investment Management LP boosted its stake in shares of Kodiak Gas Services by 259.4% in the fourth quarter. Merewether Investment Management LP now owns 934,499 shares of the company’s stock worth $38,156,000 after buying an additional 674,499 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Kodiak Gas Services by 1,154.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 681,641 shares of the company’s stock worth $27,832,000 after buying an additional 627,320 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in Kodiak Gas Services during the first quarter worth about $19,784,000. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Kodiak Gas Services Price Performance

Shares of NYSE KGS opened at $35.93 on Tuesday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.78 and a current ratio of 1.10. The firm has a fifty day moving average of $33.11 and a 200 day moving average of $35.94. The firm has a market cap of $3.15 billion, a PE ratio of 39.92 and a beta of 1.33. Kodiak Gas Services, Inc. has a one year low of $25.21 and a one year high of $50.43.

Kodiak Gas Services (NYSE:KGS) last released its earnings results on Wednesday, August 6th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Kodiak Gas Services had a net margin of 6.48% and a return on equity of 10.35%. The business had revenue of $322.84 million during the quarter, compared to analysts’ expectations of $335.10 million. During the same quarter in the previous year, the company earned $0.06 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, research analysts predict that Kodiak Gas Services, Inc. will post 1.12 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 14th. Shareholders of record on Monday, August 4th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.0%. Kodiak Gas Services’s dividend payout ratio is presently 200.00%.

Kodiak Gas Services declared that its board has authorized a stock repurchase plan on Monday, August 11th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have issued reports on KGS shares. Mizuho decreased their price target on Kodiak Gas Services from $46.00 to $45.00 and set an “outperform” rating for the company in a report on Tuesday, May 20th. Barclays boosted their target price on shares of Kodiak Gas Services from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Thursday, August 14th. JPMorgan Chase & Co. reissued a “buy” rating and set a $43.00 price target (up from $42.00) on shares of Kodiak Gas Services in a report on Monday, June 23rd. Finally, Royal Bank Of Canada raised their price target on shares of Kodiak Gas Services from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Wednesday, August 13th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.10.

Kodiak Gas Services 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.