Ramirez Asset Management Inc. Makes New Investment in Kodiak Gas Services, Inc. (NYSE:KGS)

Ramirez Asset Management Inc. purchased a new position in Kodiak Gas Services, Inc. (NYSE:KGS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,925 shares of the company’s stock, valued at approximately $650,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KGS. GAMMA Investing LLC lifted its stake in Kodiak Gas Services by 94.7% during the 4th quarter. GAMMA Investing LLC now owns 703 shares of the company’s stock valued at $29,000 after acquiring an additional 342 shares during the period. Amalgamated Bank raised its holdings in shares of Kodiak Gas Services by 112.6% during the fourth quarter. Amalgamated Bank now owns 1,110 shares of the company’s stock valued at $45,000 after purchasing an additional 588 shares during the last quarter. Transcendent Capital Group LLC bought a new position in Kodiak Gas Services during the fourth quarter valued at approximately $49,000. Mendota Financial Group LLC purchased a new stake in Kodiak Gas Services in the fourth quarter worth approximately $122,000. Finally, Virtu Financial LLC purchased a new stake in Kodiak Gas Services in the fourth quarter worth approximately $222,000. 24.95% of the stock is owned by institutional investors.

Insider Activity at Kodiak Gas Services

In related news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $47.50, for a total transaction 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 approximately $1,651,637,842.50. This trade represents a 9.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Truist Financial increased their price target on Kodiak Gas Services from $45.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Citigroup increased their target price on Kodiak Gas Services from $41.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Barclays cut their price target on Kodiak Gas Services from $44.00 to $41.00 and set an “equal weight” rating for the company in a research note on Friday, March 21st. Royal Bank of Canada set a $45.00 price objective on shares of Kodiak Gas Services and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Finally, Raymond James reissued an “outperform” rating on shares of Kodiak Gas Services in a report on Friday, March 7th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Kodiak Gas Services has an average rating of “Moderate Buy” and an average target price of $41.91.

Kodiak Gas Services Price Performance

Shares of NYSE:KGS opened at $37.49 on Friday. The firm’s 50 day simple moving average is $42.75 and its two-hundred day simple moving average is $38.19. 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 company has a market capitalization of $3.32 billion, a P/E ratio of 129.28 and a beta of 1.30. Kodiak Gas Services, Inc. has a 1-year low of $24.84 and a 1-year high of $50.43.

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 the consensus estimate of $0.42 by ($0.15). The firm had revenue of $309.52 million during 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%. Research analysts expect that Kodiak Gas Services, Inc. will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 4.37%. The ex-dividend date was Friday, February 14th. Kodiak Gas Services’s dividend payout ratio is currently 277.97%.

Kodiak Gas Services 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.