Principal Financial Group Inc. Makes New $610,000 Investment in Kodiak Gas Services, Inc. (NYSE:KGS)

Principal Financial Group Inc. purchased a new stake in Kodiak Gas Services, Inc. (NYSE:KGS) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 21,020 shares of the company’s stock, valued at approximately $610,000.

Several other institutional investors also recently made changes to their positions in KGS. HWG Holdings LP purchased a new position in shares of Kodiak Gas Services in the 2nd quarter valued at $40,000. SG Americas Securities LLC purchased a new position in Kodiak Gas Services in the third quarter valued at about $125,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Kodiak Gas Services by 115.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,691 shares of the company’s stock worth $155,000 after purchasing an additional 3,045 shares in the last quarter. Wellington Shields & Co. LLC boosted its position in shares of Kodiak Gas Services by 16.7% in the second quarter. Wellington Shields & Co. LLC now owns 7,000 shares of the company’s stock worth $191,000 after buying an additional 1,000 shares during the period. Finally, Arizona State Retirement System acquired a new stake in shares of Kodiak Gas Services in the second quarter valued at about $205,000. 24.95% of the stock is owned by hedge funds and other institutional investors.

Kodiak Gas Services Trading Up 4.5 %

NYSE:KGS opened at $43.66 on Monday. Kodiak Gas Services, Inc. has a 52 week low of $20.23 and a 52 week high of $44.20. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 1.86. The company has a market cap of $3.82 billion, a PE ratio of 150.56 and a beta of 1.15. The business’s 50 day moving average is $38.55 and its two-hundred day moving average is $31.81.

Kodiak Gas Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, November 1st were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend was Friday, November 1st. Kodiak Gas Services’s dividend payout ratio (DPR) is presently 565.52%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on KGS shares. Redburn Atlantic started coverage on Kodiak Gas Services in a research report on Thursday, September 19th. They set a “buy” rating and a $35.00 price target on the stock. Raymond James boosted their target price on shares of Kodiak Gas Services from $35.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Royal Bank of Canada raised their price target on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Mizuho began coverage on shares of Kodiak Gas Services in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $36.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of Kodiak Gas Services from $34.00 to $42.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.09.

Insiders Place Their Bets

In other Kodiak Gas Services news, insider Ewan William Hamilton sold 3,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $40.45, for a total value of $121,350.00. Following the transaction, the insider now owns 31,745 shares of the company’s stock, valued at $1,284,085.25. This trade represents a 8.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by corporate insiders.

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.