Hsbc Holdings PLC Invests $208,000 in Kodiak Gas Services, Inc. (NYSE:KGS)

Hsbc Holdings PLC acquired a new stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,644 shares of the company’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of KGS. Goldman Sachs Group Inc. grew its position in shares of Kodiak Gas Services by 20.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,279,636 shares of the company’s stock valued at $25,695,000 after purchasing an additional 215,570 shares in the last quarter. Blackstone Inc. boosted its stake in Kodiak Gas Services by 1,358.3% during the first quarter. Blackstone Inc. now owns 644,231 shares of the company’s stock valued at $17,613,000 after buying an additional 600,055 shares during the period. American Century Companies Inc. grew its position in Kodiak Gas Services by 63.2% during the second quarter. American Century Companies Inc. now owns 575,371 shares of the company’s stock worth $15,685,000 after buying an additional 222,830 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Kodiak Gas Services by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 542,281 shares of the company’s stock worth $14,783,000 after acquiring an additional 7,640 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Kodiak Gas Services in the 1st quarter valued at about $11,544,000. Institutional investors own 24.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Mizuho assumed coverage on Kodiak Gas Services in a report on Wednesday. They set an “outperform” rating and a $36.00 price objective for the company. Citigroup started coverage on shares of Kodiak Gas Services in a report on Friday, September 27th. They issued a “buy” rating and a $35.00 price target on the stock. Bank of America assumed coverage on shares of Kodiak Gas Services in a report on Wednesday, September 18th. They set a “buy” rating and a $30.00 price objective for the company. Stifel Nicolaus increased their target price on Kodiak Gas Services from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, Truist Financial lifted their price target on Kodiak Gas Services from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Kodiak Gas Services has a consensus rating of “Moderate Buy” and an average target price of $32.45.

Kodiak Gas Services Stock Up 6.3 %

KGS opened at $32.50 on Friday. The company has a market cap of $2.74 billion, a P/E ratio of 36.93 and a beta of 0.89. Kodiak Gas Services, Inc. has a 12 month low of $16.72 and a 12 month high of $32.60. The business’s 50-day moving average price is $27.68 and its 200-day moving average price is $27.39. The company has a current ratio of 1.05, a quick ratio of 0.70 and a debt-to-equity ratio of 1.70.

Kodiak Gas Services (NYSE:KGS) last announced its quarterly earnings data on Monday, August 12th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.29). The company had revenue of $309.65 million during the quarter, compared to the consensus estimate of $313.88 million. Kodiak Gas Services had a net margin of 5.23% and a return on equity of 7.20%. On average, equities analysts expect that Kodiak Gas Services, Inc. will post 1.15 EPS for the current year.

Kodiak Gas Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 12th were given a dividend of $0.41 per share. The ex-dividend date was Monday, August 12th. This represents a $1.64 annualized dividend and a yield of 5.05%. This is a boost from Kodiak Gas Services’s previous quarterly dividend of $0.38. Kodiak Gas Services’s dividend payout ratio is presently 186.36%.

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.