The Manufacturers Life Insurance Company Invests $3.70 Million in Kodiak Gas Services, Inc. $KGS

The Manufacturers Life Insurance Company acquired a new position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 49,215 shares of the company’s stock, valued at approximately $3,698,000.

Several other hedge funds also recently modified their holdings of the business. BlackRock Inc. bought a new position in Kodiak Gas Services in the second quarter valued at approximately $1,142,139,000. Invesco Ltd. increased its holdings in shares of Kodiak Gas Services by 20.4% in the fourth quarter. Invesco Ltd. now owns 7,593,274 shares of the company’s stock worth $283,988,000 after acquiring an additional 1,287,485 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Kodiak Gas Services by 33.8% in the 4th quarter. Vanguard Group Inc. now owns 6,170,360 shares of the company’s stock valued at $230,771,000 after purchasing an additional 1,559,172 shares during the period. Zimmer Partners LP lifted its stake in 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 in the last quarter. Finally, State Street Corp increased its position 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 acquiring an additional 806,191 shares in the last quarter. Institutional investors own 24.95% of the company’s stock.

Insider Buying and Selling

In related news, CEO Robert Michael Mckee sold 6,008 shares of Kodiak Gas Services stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $62.39, for a total transaction of $374,839.12. Following the completion of the sale, the chief executive officer owned 298,589 shares of the company’s stock, valued at approximately $18,628,967.71. The trade was a 1.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Cory Anne Roclawski sold 4,169 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $68.36, for a total transaction of $284,992.84. Following the completion of 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 disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 19,531 shares of company stock valued at $1,296,158. 0.64% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KGS. 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 report on Thursday, August 13th. Stifel Nicolaus lifted their price objective on shares of Kodiak Gas Services from $90.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. The Goldman Sachs Group boosted their price objective on shares of Kodiak Gas Services from $69.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Zacks Research upgraded shares of Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Finally, Barclays reduced their target price on shares of Kodiak Gas Services from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, July 8th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Kodiak Gas Services has an average rating of “Moderate Buy” and a consensus target price of $78.89.

Kodiak Gas Services Stock Performance

Shares of NYSE KGS opened at $59.62 on Wednesday. The company has a current ratio of 1.45, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28. Kodiak Gas Services, Inc. has a 12 month low of $32.55 and a 12 month high of $77.68. The stock has a 50 day moving average of $63.80 and a 200-day moving average of $63.15. The company has a market capitalization of $6.03 billion, a P/E ratio of 70.98, a P/E/G ratio of 0.86 and a beta of 0.98.

Kodiak Gas Services (NYSE:KGS) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.55 earnings per share 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 business had revenue of $391.12 million during the quarter, compared to the consensus estimate of $386.30 million. During the same quarter last year, the company posted $0.43 EPS. The firm’s revenue was up 21.2% on a year-over-year basis. As a group, equities research analysts predict that Kodiak Gas Services, Inc. will post 2.44 EPS for the current year.

Kodiak Gas Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Monday, August 17th were given a $0.49 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.96 annualized dividend and a dividend yield of 3.3%. Kodiak Gas Services’s dividend payout ratio is presently 233.33%.

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.