Counterpoint Mutual Funds LLC Trims Stock Position in Kodiak Gas Services, Inc. (NYSE:KGS)

Counterpoint Mutual Funds LLC cut its stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 23.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,707 shares of the company’s stock after selling 3,285 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in Kodiak Gas Services were worth $293,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. PNC Financial Services Group Inc. purchased a new position in shares of Kodiak Gas Services during the fourth quarter worth approximately $46,000. Exchange Traded Concepts LLC increased its holdings in Kodiak Gas Services by 12.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 21,436 shares of the company’s stock valued at $430,000 after buying an additional 2,396 shares during the period. Tortoise Index Solutions LLC increased its holdings in Kodiak Gas Services by 12.9% during the fourth quarter. Tortoise Index Solutions LLC now owns 21,488 shares of the company’s stock valued at $431,000 after buying an additional 2,448 shares during the period. Barclays PLC purchased a new position in Kodiak Gas Services during the third quarter valued at approximately $53,000. Finally, Parallel Advisors LLC purchased a new position in Kodiak Gas Services during the fourth quarter valued at approximately $60,000. 24.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on KGS shares. The Goldman Sachs Group lifted their price objective on shares of Kodiak Gas Services from $27.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. lifted their price target on shares of Kodiak Gas Services from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Royal Bank of Canada lifted their price target on shares of Kodiak Gas Services from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, May 20th. Truist Financial lifted their price target on shares of Kodiak Gas Services from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Finally, Raymond James lifted their price target on shares of Kodiak Gas Services from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.14.

Kodiak Gas Services Stock Performance

Shares of NYSE:KGS traded up $0.30 on Wednesday, hitting $26.95. 304,221 shares of the company were exchanged, compared to its average volume of 410,393. Kodiak Gas Services, Inc. has a 1-year low of $15.05 and a 1-year high of $29.43. The stock’s 50 day moving average price is $27.02 and its 200 day moving average price is $24.89. The company has a current ratio of 1.11, a quick ratio of 0.76 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $2.27 billion and a P/E ratio of 30.35.

Kodiak Gas Services (NYSE:KGS) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. Kodiak Gas Services had a net margin of 7.15% and a return on equity of 7.33%. The business had revenue of $215.50 million during the quarter, compared to the consensus estimate of $220.55 million. The firm’s revenue was up 13.4% compared to the same quarter last year. Sell-side analysts predict that Kodiak Gas Services, Inc. will post 1.81 EPS for the current year.

Kodiak Gas Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.52 dividend on an annualized basis and a yield of 5.64%. Kodiak Gas Services’s dividend payout ratio is presently 172.73%.

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.