Teacher Retirement System of Texas Has $274,000 Holdings in Kodiak Gas Services, Inc. $KGS

Teacher Retirement System of Texas trimmed its position in Kodiak Gas Services, Inc. (NYSE:KGS) by 98.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 7,982 shares of the company’s stock after selling 522,429 shares during the period. Teacher Retirement System of Texas’ holdings in Kodiak Gas Services were worth $274,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of KGS. Principal Financial Group Inc. increased its holdings in Kodiak Gas Services by 13.5% in the 1st quarter. Principal Financial Group Inc. now owns 27,246 shares of the company’s stock worth $1,016,000 after purchasing an additional 3,233 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Kodiak Gas Services by 13.4% in the first quarter. Bank of New York Mellon Corp now owns 443,666 shares of the company’s stock valued at $16,549,000 after buying an additional 52,522 shares during the period. Arizona State Retirement System increased its stake in shares of Kodiak Gas Services by 62.4% in the first quarter. Arizona State Retirement System now owns 13,775 shares of the company’s stock valued at $514,000 after buying an additional 5,293 shares during the period. New York State Common Retirement Fund raised its holdings in Kodiak Gas Services by 81.5% in the 1st quarter. New York State Common Retirement Fund now owns 14,034 shares of the company’s stock valued at $523,000 after buying an additional 6,300 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Kodiak Gas Services by 44.9% during the 1st quarter. Victory Capital Management Inc. now owns 380,120 shares of the company’s stock worth $14,178,000 after buying an additional 117,791 shares during the period. Institutional investors and hedge funds own 24.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Zacks Research upgraded shares of Kodiak Gas Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Mizuho boosted their price objective on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Barclays lowered their target price on Kodiak Gas Services from $37.00 to $35.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. Royal Bank Of Canada upped their price target on Kodiak Gas Services from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Wednesday, August 13th. Finally, Stifel Nicolaus set a $48.00 price target on Kodiak Gas Services in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.38.

Kodiak Gas Services Stock Performance

Shares of KGS opened at $34.11 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.69 and a debt-to-equity ratio of 2.08. The firm’s fifty day simple moving average is $34.93 and its two-hundred day simple moving average is $34.44. Kodiak Gas Services, Inc. has a 12 month low of $29.25 and a 12 month high of $50.43. The stock has a market capitalization of $2.96 billion, a P/E ratio of 42.64 and a beta of 1.31.

Kodiak Gas Services (NYSE:KGS) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.14). Kodiak Gas Services had a net margin of 5.84% and a return on equity of 10.37%. The business had revenue of $322.74 million during the quarter, compared to analyst estimates of $328.23 million. During the same period in the prior year, the firm earned ($0.07) earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts predict that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, November 3rd will be given a dividend of $0.49 per share. This is a positive change from Kodiak Gas Services’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $1.96 annualized dividend and a dividend yield of 5.7%. Kodiak Gas Services’s payout ratio is 245.00%.

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

Kodiak Gas Services Company 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.