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

Principal Financial Group Inc. bought a new stake in Kodiak Gas Services, Inc. (NYSE:KGS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 21,020 shares of the company’s stock, valued at approximately $610,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Quadrature Capital Ltd raised its holdings in shares of Kodiak Gas Services by 3.4% in the 1st quarter. Quadrature Capital Ltd now owns 27,642 shares of the company’s stock valued at $756,000 after purchasing an additional 906 shares in the last quarter. Wellington Shields & Co. LLC raised its stake in Kodiak Gas Services by 16.7% in the second quarter. Wellington Shields & Co. LLC now owns 7,000 shares of the company’s stock valued at $191,000 after buying an additional 1,000 shares in the last quarter. nVerses Capital LLC lifted its holdings in Kodiak Gas Services by 90.9% during the 2nd quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock worth $57,000 after buying an additional 1,000 shares during the last quarter. Dark Forest Capital Management LP lifted its holdings in Kodiak Gas Services by 5.9% during the 2nd quarter. Dark Forest Capital Management LP now owns 20,894 shares of the company’s stock worth $570,000 after buying an additional 1,164 shares during the last quarter. Finally, Security National Bank acquired a new position in shares of Kodiak Gas Services during the 2nd quarter worth about $39,000. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on KGS. Stifel Nicolaus boosted their target price on Kodiak Gas Services from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Bank of America assumed coverage on shares of Kodiak Gas Services in a research report on Wednesday, September 18th. They set a “buy” rating and a $30.00 price objective for the company. Redburn Atlantic initiated coverage on shares of Kodiak Gas Services in a research report on Thursday, September 19th. They issued a “buy” rating and a $35.00 target price on the stock. Raymond James boosted their price target on shares of Kodiak Gas Services from $35.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Truist Financial raised their price objective on Kodiak Gas Services from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.64.

Kodiak Gas Services Price Performance

Kodiak Gas Services stock opened at $40.44 on Friday. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.27 and a quick ratio of 0.93. The business has a 50 day simple moving average of $32.29 and a 200-day simple moving average of $28.92. Kodiak Gas Services, Inc. has a 12 month low of $17.50 and a 12 month high of $41.25. The stock has a market capitalization of $3.54 billion, a PE ratio of 139.45 and a beta of 0.79.

Kodiak Gas Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.06%. Kodiak Gas Services’s payout ratio is currently 565.54%.

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.