Kodiak Gas Services, Inc. (NYSE:KGS) Major Shareholder Frontier Topco Partnership, L. Sells 3,728,677 Shares

Kodiak Gas Services, Inc. (NYSE:KGS) 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 transaction of $177,112,157.50. Following the completion of the sale, the insider now directly owns 34,771,323 shares of the company’s stock, valued at approximately $1,651,637,842.50. The trade was a 9.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Kodiak Gas Services Price Performance

Shares of Kodiak Gas Services stock opened at $47.34 on Tuesday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.93 and a current ratio of 1.27. The firm’s 50-day simple moving average is $43.03 and its 200-day simple moving average is $34.63. Kodiak Gas Services, Inc. has a twelve month low of $22.64 and a twelve month high of $50.43. The firm has a market cap of $4.15 billion, a P/E ratio of 163.23 and a beta of 1.18.

Kodiak Gas Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 14th will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.46%. Kodiak Gas Services’s dividend payout ratio (DPR) is presently 565.54%.

Analysts Set New Price Targets

KGS has been the topic of several recent analyst reports. Citigroup lifted their target price on shares of Kodiak Gas Services from $41.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Truist Financial boosted their price objective 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. Mizuho boosted their price objective on shares of Kodiak Gas Services from $47.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday. Raymond James boosted their price objective on shares of Kodiak Gas Services from $35.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Barclays boosted their price objective on shares of Kodiak Gas Services from $32.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $41.09.

Hedge Funds Weigh In On Kodiak Gas Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its position in Kodiak Gas Services by 444.4% in the third quarter. FMR LLC now owns 4,889,804 shares of the company’s stock valued at $141,804,000 after buying an additional 3,991,630 shares in the last quarter. Zimmer Partners LP boosted its position in Kodiak Gas Services by 313.0% in the third quarter. Zimmer Partners LP now owns 1,779,851 shares of the company’s stock valued at $51,616,000 after buying an additional 1,348,899 shares in the last quarter. Wellington Management Group LLP acquired a new position in Kodiak Gas Services in the third quarter valued at about $44,558,000. State Street Corp boosted its position in Kodiak Gas Services by 8.7% in the third quarter. State Street Corp now owns 678,925 shares of the company’s stock valued at $19,689,000 after buying an additional 54,202 shares in the last quarter. Finally, Augustine Asset Management Inc. boosted its position in Kodiak Gas Services by 1,761.2% in the fourth quarter. Augustine Asset Management Inc. now owns 640,244 shares of the company’s stock valued at $26,141,000 after buying an additional 605,844 shares in the last quarter. 24.95% of the stock is currently owned by institutional investors and hedge funds.

About Kodiak Gas Services

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.