Legal & General Group Plc Buys New Position in Kodiak Gas Services, Inc. $KGS

Legal & General Group Plc bought a new stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 237,450 shares of the company’s stock, valued at approximately $17,840,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Advisors Preferred LLC bought a new stake in Kodiak Gas Services during the second quarter worth approximately $1,986,000. Crown Advisors Management Inc. acquired a new position in shares of Kodiak Gas Services during the 2nd quarter valued at $4,508,000. Charles Schwab Investment Management Inc. increased its position in shares of Kodiak Gas Services by 29.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 901,406 shares of the company’s stock valued at $33,713,000 after purchasing an additional 203,809 shares during the period. HighTower Advisors LLC raised its stake in shares of Kodiak Gas Services by 40.5% in the 4th quarter. HighTower Advisors LLC now owns 57,699 shares of the company’s stock worth $2,158,000 after buying an additional 16,619 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Kodiak Gas Services by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,105,555 shares of the company’s stock worth $181,108,000 after buying an additional 135,998 shares in the last quarter. 24.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KGS. Stifel Nicolaus raised their target price on Kodiak Gas Services from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Citigroup upped their price target on shares of Kodiak Gas Services from $63.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Piper Sandler initiated coverage on shares of Kodiak Gas Services in a research report on Tuesday, July 28th. They set an “overweight” rating and a $78.00 price objective for the company. Wells Fargo & Company began coverage on shares of Kodiak Gas Services in a research note on Wednesday, May 27th. They issued an “overweight” rating and a $93.00 price objective on the stock. Finally, Barclays dropped their target price on shares of Kodiak Gas Services from $76.00 to $72.00 and set an “overweight” rating on the stock in a report on Wednesday, July 8th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.89.

Kodiak Gas Services Stock Performance

Shares of NYSE KGS opened at $57.64 on Monday. The stock’s fifty day simple moving average is $64.28 and its 200 day simple moving average is $63.04. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 68.62, a PEG ratio of 0.84 and a beta of 0.98. The company has a quick ratio of 1.15, a current ratio of 1.45 and a debt-to-equity ratio of 1.28. Kodiak Gas Services, Inc. has a 52-week low of $32.55 and a 52-week high of $77.68.

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). Kodiak Gas Services had a net margin of 5.77% and a return on equity of 11.92%. The company had revenue of $391.12 million for the quarter, compared to analysts’ expectations of $386.30 million. During the same period in the prior year, the company earned $0.43 earnings per share. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. As a group, sell-side analysts forecast that Kodiak Gas Services, Inc. will post 2.44 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Monday, August 17th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.96 dividend on an annualized basis and a yield of 3.4%. Kodiak Gas Services’s dividend payout ratio is currently 233.33%.

Insider Activity at Kodiak Gas Services

In other Kodiak Gas Services news, COO William Chad Lenamon sold 1,000 shares of the firm’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $67.79, for a total value of $67,790.00. Following the completion of the transaction, the chief operating officer directly owned 87,294 shares in the company, valued at $5,917,660.26. This trade represents a 1.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert Michael Mckee sold 6,008 shares of Kodiak Gas Services stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $62.39, for a total transaction of $374,839.12. Following the completion of the transaction, the chief executive officer directly owned 298,589 shares in the company, valued at approximately $18,628,967.71. This trade represents a 1.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 19,531 shares of company stock valued at $1,296,158. Corporate insiders own 0.64% of the company’s stock.

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.