Pamalican Asset Management Ltd Buys New Position in Kodiak Gas Services, Inc. (NYSE:KGS)

Pamalican Asset Management Ltd bought a new stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 300,000 shares of the company’s stock, valued at approximately $12,249,000. Kodiak Gas Services makes up about 5.4% of Pamalican Asset Management Ltd’s portfolio, making the stock its 4th largest position.

Several other institutional investors have also added to or reduced their stakes in KGS. Tidal Investments LLC bought a new stake in shares of Kodiak Gas Services during the 3rd quarter valued at $598,000. Barclays PLC lifted its position in Kodiak Gas Services by 209.3% during the third quarter. Barclays PLC now owns 42,350 shares of the company’s stock valued at $1,228,000 after purchasing an additional 28,658 shares in the last quarter. Victory Capital Management Inc. lifted its position in Kodiak Gas Services by 155.8% during the fourth quarter. Victory Capital Management Inc. now owns 262,329 shares of the company’s stock valued at $10,711,000 after purchasing an additional 159,772 shares in the last quarter. State Street Corp grew its holdings in Kodiak Gas Services by 8.7% during the third quarter. State Street Corp now owns 678,925 shares of the company’s stock valued at $19,689,000 after purchasing an additional 54,202 shares during the period. Finally, Geode Capital Management LLC increased its position in Kodiak Gas Services by 16.8% in the third quarter. Geode Capital Management LLC now owns 547,815 shares of the company’s stock worth $15,890,000 after buying an additional 78,811 shares in the last quarter. 24.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Royal Bank of Canada set a $45.00 price objective on Kodiak Gas Services and gave the company an “outperform” rating in a research report on Tuesday, March 11th. Raymond James reiterated an “outperform” rating on shares of Kodiak Gas Services in a research report on Friday, March 7th. Truist Financial raised their price objective on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Citigroup raised their price target on Kodiak Gas Services from $41.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, Mizuho increased their target price 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. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Kodiak Gas Services has a consensus rating of “Moderate Buy” and a consensus target price of $41.91.

Kodiak Gas Services Stock Down 10.4 %

Shares of KGS opened at $34.71 on Friday. 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 stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 119.68 and a beta of 1.52. Kodiak Gas Services, Inc. has a 1 year low of $24.84 and a 1 year high of $50.43. The business’s 50 day simple moving average is $41.64 and its 200-day simple moving average is $38.58.

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

Kodiak Gas Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were paid a dividend of $0.41 per share. The ex-dividend date was Friday, February 14th. This represents a $1.64 annualized dividend and a yield of 4.73%. Kodiak Gas Services’s payout ratio is currently 277.97%.

Insiders Place Their Bets

In other Kodiak Gas Services news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $47.50, for a total value of $177,112,157.50. Following the transaction, the insider now owns 34,771,323 shares of the company’s stock, valued at $1,651,637,842.50. This represents a 9.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.27% of the stock is currently owned by insiders.

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.