Victory Capital Management Inc. Grows Stake in Kodiak Gas Services, Inc. (NYSE:KGS)

Victory Capital Management Inc. grew its holdings in Kodiak Gas Services, Inc. (NYSE:KGS) by 155.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 262,329 shares of the company’s stock after acquiring an additional 159,772 shares during the quarter. Victory Capital Management Inc. owned about 0.30% of Kodiak Gas Services worth $10,711,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. FMR LLC increased its holdings in shares of Kodiak Gas Services by 444.4% in the 3rd quarter. FMR LLC now owns 4,889,804 shares of the company’s stock valued at $141,804,000 after acquiring an additional 3,991,630 shares during the last quarter. Zimmer Partners LP increased its holdings in shares of Kodiak Gas Services by 313.0% in the 3rd quarter. Zimmer Partners LP now owns 1,779,851 shares of the company’s stock valued at $51,616,000 after acquiring an additional 1,348,899 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Kodiak Gas Services in the 3rd quarter valued at about $44,558,000. State Street Corp grew its stake in Kodiak Gas Services by 8.7% during the 3rd quarter. State Street Corp now owns 678,925 shares of the company’s stock worth $19,689,000 after buying an additional 54,202 shares during the last quarter. Finally, Augustine Asset Management Inc. grew its stake in Kodiak Gas Services by 1,761.2% during the 4th quarter. Augustine Asset Management Inc. now owns 640,244 shares of the company’s stock worth $26,141,000 after buying an additional 605,844 shares during the last quarter. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on KGS shares. Mizuho increased their price objective on Kodiak Gas Services from $47.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating on shares of Kodiak Gas Services in a research report on Friday, March 7th. The Goldman Sachs Group increased their price objective on Kodiak Gas Services from $32.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Truist Financial increased their price objective on Kodiak Gas Services from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Citigroup increased their price objective 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. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.18.

Insider Activity

In other Kodiak Gas Services news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $47.50, for a total transaction of $177,112,157.50. Following the transaction, the insider now owns 34,771,323 shares in the company, valued at $1,651,637,842.50. The trade was a 9.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

Kodiak Gas Services Price Performance

Shares of NYSE:KGS opened at $36.17 on Friday. The company has a market cap of $3.17 billion, a P/E ratio of 124.72 and a beta of 1.30. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 1.86. Kodiak Gas Services, Inc. has a 52 week low of $24.83 and a 52 week high of $50.43. The business has a fifty day simple moving average of $43.97 and a 200-day simple moving average of $37.43.

Kodiak Gas Services (NYSE:KGS) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.15). The business had revenue of $309.52 million during the quarter, compared to analysts’ expectations of $323.82 million. Kodiak Gas Services had a net margin of 2.23% and a return on equity of 7.91%. Equities research analysts forecast that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 14th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date of this dividend was Friday, February 14th. Kodiak Gas Services’s dividend payout ratio is currently 277.97%.

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.