Greenland Capital Management LP Purchases New Shares in Kodiak Gas Services, Inc. $KGS

Greenland Capital Management LP purchased a new position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,000 shares of the company’s stock, valued at approximately $751,000.

A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. acquired a new stake in Kodiak Gas Services in the 2nd quarter worth about $1,142,139,000. Invesco Ltd. grew its position in shares of 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 in the last quarter. Vanguard Group Inc. increased its holdings in shares of Kodiak Gas Services by 33.8% during the fourth 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. Zimmer Partners LP increased its holdings in shares of Kodiak Gas Services by 45.7% during the fourth quarter. Zimmer Partners LP now owns 4,271,553 shares of the company’s stock worth $159,756,000 after purchasing an additional 1,339,849 shares during the period. Finally, State Street Corp increased its holdings in shares of Kodiak Gas Services by 31.8% during the fourth quarter. State Street Corp now owns 3,340,008 shares of the company’s stock worth $124,916,000 after purchasing an additional 806,191 shares during the period. 24.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on KGS shares. Royal Bank Of Canada boosted their price target on Kodiak Gas Services from $84.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, August 13th. Piper Sandler assumed coverage on Kodiak Gas Services in a report on Tuesday, July 28th. They issued an “overweight” rating and a $78.00 price objective for the company. Jefferies Financial Group cut their target price on Kodiak Gas Services from $79.00 to $69.00 and set a “buy” rating for the company in a research report on Monday, August 10th. The Goldman Sachs Group upped their target price on Kodiak Gas Services from $69.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, Zacks Research upgraded Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Kodiak Gas Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.89.

Kodiak Gas Services Stock Performance

Shares of Kodiak Gas Services stock opened at $61.28 on Friday. The company has a 50 day moving average of $65.19 and a 200-day moving average of $62.44. Kodiak Gas Services, Inc. has a 1-year low of $32.55 and a 1-year high of $77.68. The company has a current ratio of 1.45, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28. The company has a market cap of $6.20 billion, a PE ratio of 72.95, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97.

Kodiak Gas Services (NYSE:KGS) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.12). Kodiak Gas Services had a net margin of 5.77% and a return on equity of 11.92%. The firm had revenue of $391.12 million during the quarter, compared to the consensus estimate of $386.30 million. During the same period last year, the business earned $0.43 earnings per share. The business’s revenue was up 21.2% compared to the same quarter last year. As a group, equities research analysts forecast that Kodiak Gas Services, Inc. will post 2.46 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Monday, August 17th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, August 17th. Kodiak Gas Services’s dividend payout ratio (DPR) is currently 233.33%.

Insider Transactions at Kodiak Gas Services

In other news, EVP Cory Anne Roclawski sold 4,169 shares of Kodiak Gas Services stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $68.36, for a total value of $284,992.84. Following the transaction, the executive vice president owned 24,662 shares in the company, valued at approximately $1,685,894.32. This trade represents a 14.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert Michael Mckee sold 6,008 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $62.39, for a total value of $374,839.12. Following the transaction, the chief executive officer directly owned 298,589 shares of the company’s stock, valued at $18,628,967.71. This trade represents a 1.97% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 19,531 shares of company stock worth $1,296,158. 0.64% of the stock is owned by insiders.

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.