Sourcerock Group LLC Invests $7.45 Million in Kodiak Gas Services, Inc. (NYSE:KGS)

Sourcerock Group LLC acquired a new stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 182,500 shares of the company’s stock, valued at approximately $7,451,000.

A number of other hedge funds also recently made changes to their positions in the stock. U.S. Capital Wealth Advisors LLC lifted its holdings in Kodiak Gas Services by 1.6% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 32,400 shares of the company’s stock valued at $1,323,000 after purchasing an additional 500 shares in the last quarter. Amalgamated Bank raised its stake in Kodiak Gas Services by 112.6% during the 4th quarter. Amalgamated Bank now owns 1,110 shares of the company’s stock valued at $45,000 after purchasing an additional 588 shares during the period. Comerica Bank lifted its holdings in Kodiak Gas Services by 710.1% in the 4th quarter. Comerica Bank now owns 721 shares of the company’s stock worth $29,000 after purchasing an additional 632 shares in the last quarter. Sterling Capital Management LLC boosted its stake in Kodiak Gas Services by 1,322.6% in the 4th quarter. Sterling Capital Management LLC now owns 754 shares of the company’s stock worth $31,000 after purchasing an additional 701 shares during the period. Finally, Stifel Financial Corp boosted its stake in Kodiak Gas Services by 6.9% in the 4th quarter. Stifel Financial Corp now owns 15,655 shares of the company’s stock worth $639,000 after purchasing an additional 1,007 shares during the period. 24.95% of the stock is currently owned by institutional investors.

Kodiak Gas Services Stock Down 0.4%

Shares of KGS opened at $35.50 on Monday. The firm has a fifty day moving average price of $35.22 and a 200-day moving average price of $39.42. The company has a current ratio of 1.27, a quick ratio of 0.93 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $3.15 billion, a P/E ratio of 122.43 and a beta of 1.59. Kodiak Gas Services, Inc. has a 12-month low of $24.84 and a 12-month high of $50.43.

Kodiak Gas Services (NYSE:KGS) last issued its earnings results on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. Kodiak Gas Services had a net margin of 2.23% and a return on equity of 7.91%. The business had revenue of $329.64 million for the quarter, compared to analyst estimates of $328.45 million. During the same period last year, the company posted $0.39 earnings per share. The company’s quarterly revenue was up 52.9% compared to the same quarter last year. Equities research analysts expect that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current year.

Kodiak Gas Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were issued a dividend of $0.45 per share. This is an increase from Kodiak Gas Services’s previous quarterly dividend of $0.41. This represents a $1.80 annualized dividend and a yield of 5.07%. The ex-dividend date was Monday, May 5th. Kodiak Gas Services’s dividend payout ratio (DPR) is presently 339.62%.

Analyst Upgrades and Downgrades

KGS has been the topic of several recent analyst reports. Mizuho lifted their price objective on shares of Kodiak Gas Services from $47.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating on shares of Kodiak Gas Services in a research note on Friday, March 7th. Royal Bank of Canada set a $45.00 target price on Kodiak Gas Services and gave the company an “outperform” rating in a research report on Tuesday, March 11th. Truist Financial boosted their price target on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Finally, Barclays reduced their price objective on Kodiak Gas Services from $41.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.45.

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.