Kodiak Gas Services (NYSE:KGS) CEO Sells 6,008 Shares

Kodiak Gas Services, Inc. (NYSE:KGS - Get Free Report) CEO Robert Michael Mckee sold 6,008 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $62.39, for a total transaction of $374,839.12. Following the completion of the transaction, the chief executive officer owned 298,589 shares in the company, valued at approximately $18,628,967.71. This represents a 1.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Kodiak Gas Services Stock Up 0.5%

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KGS stock opened at $60.35 on Friday. The company has a 50 day moving average of $65.34 and a two-hundred day moving average of $62.45. The company has a market cap of $6.10 billion, a price-to-earnings ratio of 71.85, a PEG ratio of 0.87 and a beta of 0.97. Kodiak Gas Services, Inc. has a 12-month low of $32.55 and a 12-month high of $77.68. The company has a quick ratio of 1.15, a current ratio of 1.45 and a debt-to-equity ratio of 1.28.

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Kodiak Gas Services (NYSE:KGS - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.55 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.12). Kodiak Gas Services had a return on equity of 11.92% and a net margin of 5.77%.The company had revenue of $391.12 million during the quarter, compared to analyst estimates of $386.30 million. During the same period last year, the company posted $0.43 earnings per share. The company's revenue was up 21.2% compared to the same quarter last year. On average, equities analysts anticipate that Kodiak Gas Services, Inc. will post 2.46 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Monday, August 17th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, August 17th. Kodiak Gas Services's dividend payout ratio is presently 233.33%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Kodiak Gas Services during the second quarter valued at approximately $1,142,139,000. Vanguard Group Inc. raised its position in shares of Kodiak Gas Services by 33.8% in the fourth quarter. Vanguard Group Inc. now owns 6,170,360 shares of the company's stock valued at $230,771,000 after purchasing an additional 1,559,172 shares during the period. Bank of America Corp DE acquired a new stake in shares of Kodiak Gas Services in the second quarter worth $109,850,000. Invesco Ltd. boosted its holdings in shares of Kodiak Gas Services by 29.5% during the 3rd quarter. Invesco Ltd. now owns 6,305,789 shares of the company's stock worth $233,125,000 after buying an additional 1,436,443 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Kodiak Gas Services by 3,046.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,471,663 shares of the company's stock worth $55,040,000 after buying an additional 1,424,888 shares during the period. 24.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

KGS has been the subject of several research reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of Kodiak Gas Services in a report on Friday, May 29th. Stifel Nicolaus increased their price objective on Kodiak Gas Services from $90.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Citigroup lifted their target price on shares of Kodiak Gas Services from $63.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, May 13th. Piper Sandler started coverage on shares of Kodiak Gas Services in a research report on Tuesday, July 28th. They issued an "overweight" rating and a $78.00 target price for the company. Finally, The Goldman Sachs Group increased their price target on shares of Kodiak Gas Services from $69.00 to $88.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $78.89.

Get Our Latest Stock Report on KGS

About Kodiak Gas Services

(Get Free Report)

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. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings.

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