Squarepoint Ops LLC Cuts Stake in Kodiak Gas Services, Inc. (NYSE:KGS)

Squarepoint Ops LLC cut its stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 85.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,516 shares of the company’s stock after selling 76,159 shares during the quarter. Squarepoint Ops LLC’s holdings in Kodiak Gas Services were worth $341,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in KGS. Security National Bank acquired a new position in Kodiak Gas Services during the second quarter valued at $39,000. PNC Financial Services Group Inc. acquired a new position in shares of Kodiak Gas Services in the fourth quarter worth about $46,000. nVerses Capital LLC raised its position in shares of Kodiak Gas Services by 90.9% in the second quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock worth $57,000 after acquiring an additional 1,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Kodiak Gas Services by 115.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,691 shares of the company’s stock worth $155,000 after acquiring an additional 3,045 shares during the period. Finally, UMB Bank n.a. acquired a new position in shares of Kodiak Gas Services in the second quarter worth about $174,000. 24.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on KGS. Citigroup began coverage on shares of Kodiak Gas Services in a research report on Friday, September 27th. They issued a “buy” rating and a $35.00 price objective for the company. Bank of America started coverage on shares of Kodiak Gas Services in a research note on Wednesday, September 18th. They set a “buy” rating and a $30.00 price objective for the company. Mizuho started coverage on shares of Kodiak Gas Services in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $36.00 price target for the company. Royal Bank of Canada increased their price target on shares of Kodiak Gas Services from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Finally, Barclays increased their price target on shares of Kodiak Gas Services from $29.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $32.73.

Kodiak Gas Services Stock Performance

Shares of NYSE KGS opened at $32.20 on Friday. The company has a market cap of $2.71 billion, a PE ratio of 36.59 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 company has a debt-to-equity ratio of 1.70, a current ratio of 1.05 and a quick ratio of 0.70. The company has a 50-day simple moving average of $27.98 and a 200-day simple moving average of $27.52.

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

Kodiak Gas Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 12th were given a dividend of $0.41 per share. This is a boost from Kodiak Gas Services’s previous quarterly dividend of $0.38. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date was Monday, August 12th. Kodiak Gas Services’s 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.