Renaissance Technologies LLC Sells 1,378 Shares of Kodiak Gas Services, Inc. (NYSE:KGS)

Renaissance Technologies LLC decreased its position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 350,222 shares of the company’s stock after selling 1,378 shares during the quarter. Renaissance Technologies LLC owned about 0.42% of Kodiak Gas Services worth $9,547,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. U.S. Capital Wealth Advisors LLC bought a new position in shares of Kodiak Gas Services during the second quarter worth $913,000. Quantbot Technologies LP grew its stake in Kodiak Gas Services by 345.3% in the first quarter. Quantbot Technologies LP now owns 45,403 shares of the company’s stock valued at $1,241,000 after acquiring an additional 35,208 shares during the period. Jennison Associates LLC bought a new stake in shares of Kodiak Gas Services in the first quarter worth about $5,184,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Kodiak Gas Services during the first quarter worth about $1,046,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Kodiak Gas Services during the 1st quarter valued at about $11,544,000. Institutional investors and hedge funds own 24.95% of the company’s stock.

Kodiak Gas Services Stock Performance

Shares of NYSE KGS opened at $29.45 on Wednesday. The stock has a market capitalization of $2.48 billion, a PE ratio of 33.47 and a beta of 0.89. Kodiak Gas Services, Inc. has a 52 week low of $16.72 and a 52 week high of $30.52. The stock has a 50 day moving average price of $27.42 and a 200 day moving average price of $27.18. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.70 and a current ratio of 1.05.

Kodiak Gas Services (NYSE:KGS) last released 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 net margin of 5.23% and a return on equity of 7.20%. The firm had revenue of $309.65 million during the quarter, compared to the consensus estimate of $313.88 million. Analysts predict that Kodiak Gas Services, Inc. will post 1.15 earnings per share for the current fiscal 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 issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.57%. 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. Kodiak Gas Services’s dividend payout ratio is presently 186.36%.

Wall Street Analysts Forecast Growth

KGS has been the topic of several research analyst reports. Redburn Atlantic began coverage on shares of Kodiak Gas Services in a report on Thursday, September 19th. They set a “buy” rating and a $35.00 target price on the stock. Bank of America started coverage on shares of Kodiak Gas Services in a research note on Wednesday, September 18th. They issued a “buy” rating and a $30.00 target price for the company. Royal Bank of Canada lifted their price target on Kodiak Gas Services from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Stifel Nicolaus increased their price objective on Kodiak Gas Services from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Barclays started coverage on Kodiak Gas Services in a research note on Wednesday, July 17th. They issued an “equal weight” rating and a $29.00 target price on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Kodiak Gas Services currently has an average rating of “Moderate Buy” and an average price target of $31.78.

Kodiak Gas Services Company 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.