Duff & Phelps Investment Management Co. Buys 77,883 Shares of Kodiak Gas Services, Inc. $KGS

Duff & Phelps Investment Management Co. boosted its stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 19.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 484,960 shares of the company’s stock after purchasing an additional 77,883 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in Kodiak Gas Services were worth $16,620,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd acquired a new position in shares of Kodiak Gas Services during the first quarter valued at about $1,266,000. Swiss National Bank grew its position in Kodiak Gas Services by 61.9% during the first quarter. Swiss National Bank now owns 93,100 shares of the company’s stock worth $3,473,000 after buying an additional 35,600 shares in the last quarter. Dark Forest Capital Management LP increased its stake in Kodiak Gas Services by 107.9% during the first quarter. Dark Forest Capital Management LP now owns 132,837 shares of the company’s stock valued at $4,955,000 after acquiring an additional 68,932 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Kodiak Gas Services by 17.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 362,834 shares of the company’s stock valued at $13,534,000 after acquiring an additional 53,155 shares during the period. Finally, Nuveen LLC acquired a new position in Kodiak Gas Services in the 1st quarter valued at approximately $4,287,000. 24.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on KGS shares. Zacks Research lowered Kodiak Gas Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Weiss Ratings cut Kodiak Gas Services from a “buy (b-)” rating to a “hold (c)” rating in a research report on Monday, November 10th. Royal Bank Of Canada boosted their price target on shares of Kodiak Gas Services from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Wednesday, August 13th. Barclays dropped their price objective on shares of Kodiak Gas Services from $37.00 to $35.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Finally, Stifel Nicolaus set a $48.00 target price on shares of Kodiak Gas Services in a research report on Thursday, November 6th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.38.

Kodiak Gas Services Stock Performance

Kodiak Gas Services stock opened at $33.64 on Monday. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.98 and a quick ratio of 0.69. The stock has a fifty day moving average price of $34.81 and a two-hundred day moving average price of $34.42. Kodiak Gas Services, Inc. has a 52-week low of $29.25 and a 52-week high of $50.43. The firm has a market capitalization of $2.92 billion, a P/E ratio of 42.05 and a beta of 1.31.

Kodiak Gas Services (NYSE:KGS) last issued its earnings results on Tuesday, November 4th. The company reported $0.36 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $322.74 million during the quarter, compared to analyst estimates of $328.23 million. During the same quarter in the prior year, the firm posted ($0.07) EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. As a group, analysts anticipate that Kodiak Gas Services, Inc. will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 3rd were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Monday, November 3rd. This is a positive change from Kodiak Gas Services’s previous quarterly dividend of $0.45. This represents a $1.96 annualized dividend and a dividend yield of 5.8%. Kodiak Gas Services’s dividend payout ratio (DPR) is 245.00%.

Kodiak Gas Services declared that its Board of Directors has approved a stock repurchase program on Monday, August 11th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.