Jacobs Levy Equity Management Inc. Invests $11.54 Million in Kodiak Gas Services, Inc. (NYSE:KGS)

Jacobs Levy Equity Management Inc. acquired a new position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 422,227 shares of the company’s stock, valued at approximately $11,544,000. Jacobs Levy Equity Management Inc. owned 0.50% of Kodiak Gas Services at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of KGS. Vanguard Group Inc. grew its position in shares of Kodiak Gas Services by 504.9% in the third quarter. Vanguard Group Inc. now owns 967,799 shares of the company’s stock valued at $17,304,000 after purchasing an additional 807,799 shares during the last quarter. Blackstone Inc. grew its stake in shares of Kodiak Gas Services by 1,358.3% in the first quarter. Blackstone Inc. now owns 644,231 shares of the company’s stock valued at $17,613,000 after acquiring an additional 600,055 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Kodiak Gas Services by 20.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,279,636 shares of the company’s stock worth $25,695,000 after acquiring an additional 215,570 shares during the period. Jennison Associates LLC acquired a new stake in Kodiak Gas Services in the 1st quarter worth about $5,184,000. Finally, Kayne Anderson Capital Advisors LP acquired a new stake in Kodiak Gas Services in the 4th quarter worth about $3,416,000. Institutional investors own 24.95% of the company’s stock.

Kodiak Gas Services Trading Up 1.1 %

Shares of NYSE:KGS traded up $0.31 during midday trading on Wednesday, reaching $28.64. The company’s stock had a trading volume of 188,900 shares, compared to its average volume of 428,643. Kodiak Gas Services, Inc. has a fifty-two week low of $16.72 and a fifty-two week high of $29.75. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.76 and a current ratio of 1.11. The firm has a 50 day moving average price of $27.04 and a two-hundred day moving average price of $26.26. The firm has a market capitalization of $2.41 billion and a price-to-earnings ratio of 32.19.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $215.50 million for the quarter, compared to analysts’ expectations of $220.55 million. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, analysts forecast that Kodiak Gas Services, Inc. will post 1.81 earnings per share for the current year.

Kodiak Gas Services Dividend Announcement

The company also recently declared 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. This represents a $1.52 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date of this dividend was Friday, May 10th. Kodiak Gas Services’s payout ratio is currently 172.73%.

Analyst Ratings Changes

Several equities analysts have weighed in on KGS shares. Royal Bank of Canada lifted their price objective on Kodiak Gas Services from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, May 20th. Truist Financial lifted their price target on Kodiak Gas Services from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Barclays initiated coverage on shares of Kodiak Gas Services in a research note on Wednesday, July 17th. They issued an “equal weight” rating and a $29.00 price objective on the stock. The Goldman Sachs Group raised their target price on Kodiak Gas Services from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Finally, Raymond James upped their price target on Kodiak Gas Services from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, April 16th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Kodiak Gas Services has an average rating of “Moderate Buy” and an average target price of $30.33.

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.