Shares of Kodiak Gas Services, Inc. (NYSE:KGS) sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its stake in Kodiak Gas Services, Inc. (NYSE:KGS – Free Report) by 0.8% during the 1st quarter, the company disclosed in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,108,792 shares of the company’s stock after selling 8,960 shares during the same period. Vanguard Group Inc. owned about 1.43% of Kodiak Gas Services worth $30,314,000 at the end of the last quarter.

Several other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. acquired a new stake in Kodiak Gas Services during the fourth quarter valued at $46,000. Parallel Advisors LLC acquired a new stake in Kodiak Gas Services during the fourth quarter valued at about $60,000. Zürcher Kantonalbank Zürich Cantonalbank acquired a new stake in Kodiak Gas Services during the fourth quarter valued at about $127,000. New York State Common Retirement Fund increased its stake in Kodiak Gas Services by 204.6% during the fourth quarter. New York State Common Retirement Fund now owns 10,129 shares of the company’s stock valued at $203,000 after acquiring an additional 6,804 shares during the same period. Finally, Counterpoint Mutual Funds LLC increased its stake in shares of Kodiak Gas Services by 8.4% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 13,992 shares of the company’s stock valued at $281,000 after purchasing an additional 1,086 shares during the last quarter. 24.95% of the shares are owned by hedge funds and other institutional investors.

Upgrades and downgrades by analysts

Several equities analysts have recently issued reports on KGS shares. Barclays assumed coverage on shares of Kodiak Gas Services in a research note on Wednesday, July 17. They issued an “equal weight” rating and a $29.00 price target on the stock. Truist Financial increased their price target on shares of Kodiak Gas Services from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, May 10. Raymond James increased their price target on shares of Kodiak Gas Services from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16. Finally, Royal Bank of Canada raised their price target on shares of Kodiak Gas Services from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, May 20. Two analysts have rated the stock with a “hold” rating and four have assigned the stock a “buy” rating. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $30.33.

Read our latest analysis on Kodiak Gas Services

Kodiak Gas Services shares down 0.4%

Shares of NYSE KGS opened at $28.88 on Friday. The stock has a market cap of $2.43 billion, a P/E ratio of 32.82 and a beta of 0.92. The company has a current ratio of 1.11, a quick ratio of 0.76 and a debt-to-equity ratio of 1.60. Kodiak Gas Services, Inc. has a 12-month low of $16.72 and a 12-month high of $29.75. The company has a 50-day moving average of $27.17 and a 200-day moving average of $26.54.

Kodiak Gas Services (NYSE:KGS – Get Free Report) last released its quarterly earnings results on Wednesday, May 8. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.03. The company had revenue of $215.50 million for the quarter, compared to analyst expectations of $220.55 million. Kodiak Gas Services had a return on equity of 7.33% and a net margin of 7.15%. The company’s quarterly revenue grew 13.4% year-over-year. As a group, sell-side analysts forecast that Kodiak Gas Services, Inc. will post earnings per share of $1.81 for the current fiscal year.

Kodiak Gas Services increases dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 12th will receive a dividend of $0.41 per share. This is an increase from Kodiak Gas Services’ previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Monday, August 12th. This represents an annualized dividend of $1.64 and a dividend yield of 5.68%. Kodiak Gas Services’ payout ratio is currently 186.36%.

Profile of Kodiak Gas Services

(Free report)

Kodiak Gas Services, Inc. operates contracted compression infrastructure for customers in the oil and gas industry in the United States. The Company operates in two segments: Compression Operations and Other Services. The Compression Operations segment operates Company-owned and customer-owned compression infrastructure to facilitate the production, gathering and transportation of natural gas and oil.

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