Kodiak Gas Services, Inc. $KGS Shares Bought by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS increased its stake in Kodiak Gas Services, Inc. (NYSE:KGS) by 77.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,295 shares of the company’s stock after purchasing an additional 33,335 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.08% of Kodiak Gas Services worth $4,041,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. United Advisor Group LLC lifted its holdings in shares of Kodiak Gas Services by 75.2% during the 3rd quarter. United Advisor Group LLC now owns 27,803 shares of the company’s stock worth $1,473,000 after acquiring an additional 11,936 shares during the last quarter. Conestoga Capital Advisors LLC increased its stake in Kodiak Gas Services by 29.2% in the third quarter. Conestoga Capital Advisors LLC now owns 835,090 shares of the company’s stock valued at $44,235,000 after acquiring an additional 188,945 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Kodiak Gas Services by 1.8% in the third quarter. Oregon Public Employees Retirement Fund now owns 22,700 shares of the company’s stock valued at $1,202,000 after acquiring an additional 400 shares during the last quarter. Bridge City Capital LLC increased its stake in Kodiak Gas Services by 45.6% in the third quarter. Bridge City Capital LLC now owns 47,656 shares of the company’s stock valued at $2,524,000 after acquiring an additional 14,926 shares during the last quarter. Finally, Argentarii LLC lifted its stake in Kodiak Gas Services by 5.6% during the third quarter. Argentarii LLC now owns 24,934 shares of the company’s stock worth $1,321,000 after purchasing an additional 1,314 shares during the last quarter. 24.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on KGS. Barclays reduced their price objective on Kodiak Gas Services from $72.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday, October 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kodiak Gas Services in a research note on Wednesday, August 26th. UBS Group reiterated a “buy” rating on shares of Kodiak Gas Services in a research report on Friday, October 16th. Bank of America decreased their price target on shares of Kodiak Gas Services from $83.00 to $74.00 and set a “buy” rating on the stock in a research note on Tuesday, October 27th. Finally, Piper Sandler assumed coverage on shares of Kodiak Gas Services in a report on Tuesday, July 28th. They issued an “overweight” rating and a $78.00 price objective for the company. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Kodiak Gas Services has a consensus rating of “Moderate Buy” and an average target price of $78.09.

Kodiak Gas Services Trading Up 0.1%

NYSE KGS opened at $41.70 on Monday. 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 stock has a 50-day moving average of $52.86 and a 200-day moving average of $59.09. The firm has a market cap of $4.23 billion, a PE ratio of 49.64 and a beta of 1.07.

Kodiak Gas Services (NYSE:KGS) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.12). The company 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 was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.43 earnings per share. As a group, sell-side analysts forecast that Kodiak Gas Services, Inc. will post 2.43 EPS for the current year.

Kodiak Gas Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.9%. This is a boost from Kodiak Gas Services’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, November 16th. Kodiak Gas Services’s payout ratio is currently 233.33%.

Insider Transactions at Kodiak Gas Services

In other news, insider Pedro Buhigas sold 3,663 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $58.14, for a total value of $212,966.82. Following the transaction, the insider owned 32,413 shares in the company, valued at approximately $1,884,491.82. This trade represents a 10.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert McKee sold 6,008 shares of Kodiak Gas Services stock in a transaction 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. The trade was a 1.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 23,002 shares of company stock worth $1,325,334. Insiders own 0.64% of the company’s stock.

About Kodiak Gas Services

Kodiak Gas Services provides contract natural gas compression services to energy companies in the United States. Its equipment helps move natural gas from production sites through gathering and processing systems and into pipelines.

The company supplies, installs, operates and maintains compression equipment, including large-horsepower compressor units. Its services support natural gas production and transportation across major U.S. oil and gas regions.

Based in The Woodlands, Texas, Kodiak became a publicly traded company in 2023.