Arizona State Retirement System Makes New Investment in Kodiak Gas Services, Inc. (NYSE:KGS)

Arizona State Retirement System bought a new stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,532 shares of the company’s stock, valued at approximately $205,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of KGS. Security National Bank purchased a new stake in shares of Kodiak Gas Services in the 2nd quarter worth approximately $39,000. nVerses Capital LLC raised its stake in 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 buying an additional 1,000 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in Kodiak Gas Services during the fourth quarter worth $46,000. Parallel Advisors LLC bought a new stake in Kodiak Gas Services during the 4th quarter valued at $60,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Kodiak Gas Services by 115.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,691 shares of the company’s stock valued at $155,000 after acquiring an additional 3,045 shares during the period. 24.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Bank of America initiated coverage on shares of Kodiak Gas Services in a research note on Wednesday. They set a “buy” rating and a $30.00 price objective for the company. Barclays assumed coverage on Kodiak Gas Services in a research note on Wednesday, July 17th. They issued an “equal weight” rating and a $29.00 price target for the company. Truist Financial upped their price objective on shares of Kodiak Gas Services from $32.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Royal Bank of Canada lifted their target price on shares of Kodiak Gas Services from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Finally, Stifel Nicolaus raised their price target on shares of Kodiak Gas Services from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Kodiak Gas Services has an average rating of “Moderate Buy” and a consensus price target of $31.38.

Kodiak Gas Services Price Performance

Shares of KGS opened at $28.67 on Thursday. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.05 and a quick ratio of 0.70. Kodiak Gas Services, Inc. has a 1-year low of $16.72 and a 1-year high of $29.75. The stock has a market cap of $2.42 billion, a PE ratio of 32.58 and a beta of 0.90. The firm has a fifty day moving average price of $27.29 and a 200 day moving average price of $27.08.

Kodiak Gas Services (NYSE:KGS) last announced its earnings results 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). 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 analyst estimates of $313.88 million. As a group, sell-side analysts anticipate that Kodiak Gas Services, Inc. will post 1.15 EPS for the current year.

Kodiak Gas Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 12th were given a $0.41 dividend. This is a boost from Kodiak Gas Services’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.64 annualized dividend and a yield of 5.72%. Kodiak Gas Services’s dividend payout ratio is presently 186.36%.

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.