HITE Hedge Asset Management LLC Decreases Holdings in Kodiak Gas Services, Inc. $KGS

HITE Hedge Asset Management LLC trimmed its holdings in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 14.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 231,116 shares of the company’s stock after selling 40,019 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in Kodiak Gas Services were worth $8,644,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Kodiak Gas Services by 33.8% in the 4th quarter. Vanguard Group Inc. now owns 6,170,360 shares of the company’s stock worth $230,771,000 after purchasing an additional 1,559,172 shares during the period. Invesco Ltd. raised its position in Kodiak Gas Services by 29.5% in the 3rd quarter. Invesco Ltd. now owns 6,305,789 shares of the company’s stock worth $233,125,000 after purchasing an additional 1,436,443 shares during the period. CIBC Private Wealth Group LLC raised its position in Kodiak Gas Services by 3,046.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,471,663 shares of the company’s stock worth $55,040,000 after purchasing an additional 1,424,888 shares during the period. Eagle Global Advisors LLC purchased a new stake in Kodiak Gas Services in the 4th quarter worth about $39,741,000. Finally, Goldman Sachs Group Inc. raised its position in Kodiak Gas Services by 58.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,983,360 shares of the company’s stock worth $73,979,000 after purchasing an additional 730,180 shares during the period. 24.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Kodiak Gas Services in a research report on Wednesday, May 27th. They issued an “overweight” rating and a $93.00 price objective on the stock. Zacks Research raised shares of Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada increased their price objective on shares of Kodiak Gas Services from $64.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, May 18th. Stifel Nicolaus set a $84.00 price objective on shares of Kodiak Gas Services in a research report on Tuesday, May 12th. Finally, Citigroup increased their price objective on shares of Kodiak Gas Services from $63.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Kodiak Gas Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.22.

Insider Activity at Kodiak Gas Services

In other news, CAO Ewan William Hamilton sold 5,797 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $56.18, for a total transaction of $325,675.46. Following the transaction, the chief accounting officer directly owned 34,346 shares of the company’s stock, valued at approximately $1,929,558.28. This trade represents a 14.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO William Chad Lenamon sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $67.79, for a total transaction of $67,790.00. Following the transaction, the chief operating officer directly owned 90,918 shares in the company, valued at approximately $6,163,331.22. This trade represents a 1.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 33,682 shares of company stock valued at $1,876,438. 0.64% of the stock is owned by insiders.

Kodiak Gas Services Stock Performance

Kodiak Gas Services stock opened at $68.95 on Friday. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.28 and a quick ratio of 0.99. Kodiak Gas Services, Inc. has a 1-year low of $30.06 and a 1-year high of $77.68. The firm has a market capitalization of $6.12 billion, a P/E ratio of 93.18, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94. The company’s 50-day moving average is $67.34 and its 200 day moving average is $52.62.

Kodiak Gas Services (NYSE:KGS) last issued its earnings results on Monday, May 11th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. The business had revenue of $345.76 million for the quarter, compared to analyst estimates of $340.23 million. Kodiak Gas Services had a net margin of 5.13% and a return on equity of 13.12%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $0.33 earnings per share. Research analysts forecast that Kodiak Gas Services, Inc. will post 2.35 EPS for the current year.

Kodiak Gas Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.8%. Kodiak Gas Services’s dividend payout ratio (DPR) is 264.86%.

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. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings.