Principal Financial Group Inc. Grows Position in Kodiak Gas Services, Inc. (NYSE:KGS)

Principal Financial Group Inc. increased its stake in Kodiak Gas Services, Inc. (NYSE:KGS) by 14.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,013 shares of the company’s stock after acquiring an additional 2,993 shares during the period. Principal Financial Group Inc.’s holdings in Kodiak Gas Services were worth $980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Kodiak Gas Services by 94.7% in the 4th quarter. GAMMA Investing LLC now owns 703 shares of the company’s stock worth $29,000 after buying an additional 342 shares during the last quarter. Mendota Financial Group LLC bought a new position in shares of Kodiak Gas Services in the fourth quarter worth approximately $122,000. Quadrature Capital Ltd purchased a new stake in Kodiak Gas Services during the 3rd quarter valued at $242,000. Dynamic Technology Lab Private Ltd boosted its position in shares of Kodiak Gas Services by 41.7% during the third quarter. Dynamic Technology Lab Private Ltd now owns 10,904 shares of the company’s stock valued at $316,000 after buying an additional 3,209 shares during the last quarter. Finally, United Advisor Group LLC bought a new stake in shares of Kodiak Gas Services in the third quarter worth approximately $341,000. 24.95% of the stock is currently owned by hedge funds and other institutional investors.

Kodiak Gas Services Trading Down 14.6 %

Shares of KGS opened at $34.63 on Friday. The firm has a market cap of $3.03 billion, a P/E ratio of 119.40 and a beta of 1.30. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.27 and a quick ratio of 0.93. Kodiak Gas Services, Inc. has a 1 year low of $23.57 and a 1 year high of $50.43. The company has a 50 day simple moving average of $44.57 and a two-hundred day simple moving average of $37.14.

Kodiak Gas Services (NYSE:KGS) last issued its earnings results on Wednesday, March 5th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.15). The company had revenue of $309.52 million for the quarter, compared to the consensus estimate of $323.82 million. Kodiak Gas Services had a return on equity of 7.91% and a net margin of 2.23%. On average, equities analysts expect that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 14th were issued a $0.41 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.64 annualized dividend and a dividend yield of 4.74%. Kodiak Gas Services’s dividend payout ratio (DPR) is 565.52%.

Insider Buying and Selling

In other Kodiak Gas Services news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of Kodiak Gas Services stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $47.50, for a total value of $177,112,157.50. Following the completion of the transaction, the insider now directly owns 34,771,323 shares of the company’s stock, valued at $1,651,637,842.50. This trade represents a 9.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.18% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. Royal Bank of Canada upped their price objective on Kodiak Gas Services from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Citigroup upped their price target on Kodiak Gas Services from $41.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Raymond James lifted their price objective on Kodiak Gas Services from $35.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Truist Financial increased their target price on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Kodiak Gas Services from $34.00 to $42.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.09.

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.