Louisiana State Employees Retirement System Takes Position in Kodiak Gas Services, Inc. $KGS

Louisiana State Employees Retirement System purchased a new position in Kodiak Gas Services, Inc. (NYSE:KGS) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 36,900 shares of the company’s stock, valued at approximately $2,152,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its stake in Kodiak Gas Services by 20.4% during the 4th quarter. Invesco Ltd. now owns 7,593,274 shares of the company’s stock worth $283,988,000 after purchasing an additional 1,287,485 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Kodiak Gas Services by 33.8% in the fourth quarter. Vanguard Group Inc. now owns 6,170,360 shares of the company’s stock valued at $230,771,000 after buying an additional 1,559,172 shares during the last quarter. Zimmer Partners LP raised its position in shares of Kodiak Gas Services by 45.7% in the fourth quarter. Zimmer Partners LP now owns 4,271,553 shares of the company’s stock valued at $159,756,000 after buying an additional 1,339,849 shares during the last quarter. State Street Corp lifted its stake in shares of Kodiak Gas Services by 31.8% in the fourth quarter. State Street Corp now owns 3,340,008 shares of the company’s stock worth $124,916,000 after buying an additional 806,191 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Kodiak Gas Services by 14.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,969,557 shares of the company’s stock worth $111,061,000 after buying an additional 376,524 shares in the last quarter. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Kodiak Gas Services Stock Down 2.6%

Shares of KGS opened at $74.32 on Tuesday. The firm has a market cap of $6.60 billion, a P/E ratio of 100.44, a price-to-earnings-growth ratio of 1.07 and a beta of 0.94. Kodiak Gas Services, Inc. has a 12-month low of $30.06 and a 12-month high of $77.68. The company’s 50-day moving average price is $69.64 and its 200 day moving average price is $55.48. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 2.38.

Kodiak Gas Services (NYSE:KGS) last announced its earnings results on Monday, May 11th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.05. Kodiak Gas Services had a net margin of 5.13% and a return on equity of 13.12%. The company had revenue of $345.76 million during the quarter, compared to analyst estimates of $340.23 million. During the same quarter last year, the firm posted $0.33 earnings per share. Kodiak Gas Services’s revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts forecast that Kodiak Gas Services, Inc. will post 2.36 earnings per share for the current year.

Kodiak Gas Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Monday, May 18th. Kodiak Gas Services’s dividend payout ratio is currently 264.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Kodiak Gas Services in a research report on Friday, May 29th. Royal Bank Of Canada raised their target price on shares of Kodiak Gas Services from $64.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, May 18th. Citigroup boosted their target price on Kodiak Gas Services from $63.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Jefferies Financial Group began coverage on Kodiak Gas Services in a research report on Thursday, June 4th. They issued a “buy” rating and a $79.00 price target for the company. Finally, Zacks Research raised Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Kodiak Gas Services presently has an average rating of “Moderate Buy” and an average target price of $79.25.

Insider Buying and Selling

In other Kodiak Gas Services news, COO William Chad Lenamon sold 1,000 shares of the business’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 value of $67,790.00. Following the sale, the chief operating officer owned 90,918 shares of the company’s stock, valued at $6,163,331.22. The trade was a 1.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Ewan William Hamilton sold 2,729 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $68.62, for a total value of $187,263.98. Following the transaction, the chief accounting officer owned 31,617 shares in the company, valued at $2,169,558.54. This trade represents a 7.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 8,354 shares of company stock valued at $568,536. Company insiders own 0.64% of the company’s stock.

About Kodiak Gas Services

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.