Kayne Anderson Capital Advisors LP Sells 463,368 Shares of Kodiak Gas Services, Inc. $KGS

Kayne Anderson Capital Advisors LP trimmed its holdings in Kodiak Gas Services, Inc. (NYSE:KGS) by 91.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,705 shares of the company’s stock after selling 463,368 shares during the quarter. Kayne Anderson Capital Advisors LP owned about 0.05% of Kodiak Gas Services worth $1,566,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in KGS. Amalgamated Bank raised its holdings in Kodiak Gas Services by 40.0% during the 1st quarter. Amalgamated Bank now owns 1,554 shares of the company’s stock worth $58,000 after purchasing an additional 444 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Kodiak Gas Services by 13.4% during the 1st quarter. Bank of New York Mellon Corp now owns 443,666 shares of the company’s stock worth $16,549,000 after purchasing an additional 52,522 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Kodiak Gas Services during the 1st quarter worth about $1,266,000. Swiss National Bank raised its holdings in Kodiak Gas Services by 61.9% during the 1st quarter. Swiss National Bank now owns 93,100 shares of the company’s stock worth $3,473,000 after purchasing an additional 35,600 shares during the last quarter. Finally, Dark Forest Capital Management LP raised its holdings in Kodiak Gas Services by 107.9% during the 1st quarter. Dark Forest Capital Management LP now owns 132,837 shares of the company’s stock worth $4,955,000 after purchasing an additional 68,932 shares during the last quarter. 24.95% of the stock is owned by institutional investors.

Kodiak Gas Services Stock Down 6.5%

KGS opened at $33.90 on Thursday. Kodiak Gas Services, Inc. has a 1-year low of $29.25 and a 1-year high of $50.43. The stock’s fifty day simple moving average is $35.08 and its 200 day simple moving average is $34.43. The company has a current ratio of 1.10, a quick ratio of 0.78 and a debt-to-equity ratio of 1.89. The stock has a market cap of $2.94 billion, a PE ratio of 42.37 and a beta of 1.31.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.36 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 10.17%. The firm 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 company earned ($0.07) earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. As a group, research analysts expect that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current year.

Kodiak Gas Services declared that its Board of Directors has approved a share 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 purchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Kodiak Gas Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Monday, November 3rd will be issued a $0.49 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $1.96 dividend on an annualized basis and a yield of 5.8%. This is a positive change from Kodiak Gas Services’s previous quarterly dividend of $0.45. Kodiak Gas Services’s payout ratio is currently 245.00%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on KGS. Barclays decreased 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. Zacks Research raised Kodiak Gas Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Mizuho upped their price target on Kodiak Gas Services from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Royal Bank Of Canada upped their price objective on Kodiak Gas Services from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 13th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Kodiak Gas Services in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Kodiak Gas Services currently has a consensus rating of “Buy” and a consensus target price of $43.25.

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.