Connor Clark & Lunn Investment Management Ltd. Buys Shares of 397,966 Kodiak Gas Services, Inc. $KGS

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 397,966 shares of the company’s stock, valued at approximately $29,899,000.

Other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings in shares of Kodiak Gas Services by 1,501.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company’s stock worth $42,000 after acquiring an additional 1,156 shares during the period. State of Wyoming boosted its stake in Kodiak Gas Services by 201.7% during the 4th quarter. State of Wyoming now owns 1,219 shares of the company’s stock valued at $46,000 after purchasing an additional 815 shares during the period. PNC Financial Services Group Inc. boosted its stake in Kodiak Gas Services by 80.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,449 shares of the company’s stock valued at $54,000 after purchasing an additional 646 shares during the period. Harbor Investment Advisory LLC acquired a new position in Kodiak Gas Services during the 2nd quarter valued at about $76,000. Finally, Allworth Financial LP bought a new position in Kodiak Gas Services in the 2nd quarter worth about $80,000. Institutional investors own 24.95% of the company’s stock.

Insider Buying and Selling

In related news, CAO Ewan William Hamilton sold 2,729 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $68.62, for a total transaction of $187,263.98. Following the completion of the transaction, the chief accounting officer owned 31,617 shares of the company’s stock, valued at $2,169,558.54. This trade represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Pedro R. Buhigas sold 4,625 shares of Kodiak Gas Services stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $67.78, for a total value of $313,482.50. Following the transaction, the insider directly owned 38,454 shares in the company, valued at approximately $2,606,412.12. The trade was a 10.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 19,531 shares of company stock worth $1,296,158. 0.64% of the stock is owned by corporate insiders.

Kodiak Gas Services Trading Down 3.6%

Kodiak Gas Services stock opened at $59.25 on Tuesday. Kodiak Gas Services, Inc. has a 12-month low of $32.55 and a 12-month high of $77.68. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.45 and a quick ratio of 1.15. The stock has a market capitalization of $5.99 billion, a PE ratio of 70.54, a price-to-earnings-growth ratio of 0.89 and a beta of 0.98. The firm has a 50 day simple moving average of $64.99 and a 200-day simple moving average of $62.71.

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

Kodiak Gas Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Monday, August 17th will be given a dividend of $0.49 per share. The ex-dividend date is Monday, August 17th. This represents a $1.96 annualized dividend and a dividend yield of 3.3%. Kodiak Gas Services’s dividend payout ratio (DPR) is 233.33%.

Analyst Upgrades and Downgrades

KGS has been the topic of several analyst reports. Stifel Nicolaus raised their price target on shares of Kodiak Gas Services from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada increased their price objective on Kodiak Gas Services from $84.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, August 13th. Jefferies Financial Group lowered their target price on Kodiak Gas Services from $79.00 to $69.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Citigroup lifted their target price on Kodiak Gas Services from $63.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Kodiak Gas Services in a research report on Friday, May 29th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.89.

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.