Kodiak Gas Services, Inc. $KGS Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. decreased its position in Kodiak Gas Services, Inc. (NYSE:KGS) by 41.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,295 shares of the company’s stock after selling 25,285 shares during the quarter. Franklin Resources Inc.’s holdings in Kodiak Gas Services were worth $1,210,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Allworth Financial LP grew its position in shares of Kodiak Gas Services by 1,850.0% during the second quarter. Allworth Financial LP now owns 741 shares of the company’s stock worth $25,000 after buying an additional 703 shares in the last quarter. Quarry LP acquired a new stake in Kodiak Gas Services in the first quarter worth $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Kodiak Gas Services in the 1st quarter worth about $37,000. Salem Investment Counselors Inc. bought a new stake in shares of Kodiak Gas Services during the second quarter valued at approximately $51,000. Finally, Covestor Ltd raised its stake in Kodiak Gas Services by 33,700.0% during the 1st quarter. Covestor Ltd now owns 1,690 shares of the company’s stock valued at $63,000 after acquiring an additional 1,685 shares in the last quarter. 24.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on KGS. William Blair started coverage on shares of Kodiak Gas Services in a research report on Tuesday, November 18th. They set an “outperform” rating on the stock. Mizuho decreased their price target on Kodiak Gas Services from $47.00 to $44.00 and set an “outperform” rating for the company in a research report on Wednesday. Zacks Research lowered shares of Kodiak Gas Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Weiss Ratings restated a “hold (c)” rating on shares of Kodiak Gas Services in a research report on Monday. Finally, Royal Bank Of Canada boosted their price target on shares of Kodiak Gas Services from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, November 18th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.29.

Kodiak Gas Services Stock Performance

NYSE:KGS opened at $36.74 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.69 and a debt-to-equity ratio of 2.08. The firm’s fifty day simple moving average is $34.94 and its 200 day simple moving average is $34.35. The firm has a market capitalization of $3.18 billion, a PE ratio of 45.92 and a beta of 1.33. Kodiak Gas Services, Inc. has a 1 year low of $29.25 and a 1 year high of $50.43.

Kodiak Gas Services (NYSE:KGS) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.14). Kodiak Gas Services had a return on equity of 10.37% and a net margin of 5.84%.The business had revenue of $322.74 million for the quarter, compared to analyst estimates of $328.23 million. During the same period in the prior year, the firm posted ($0.07) EPS. Kodiak Gas Services’s revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts anticipate that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 3rd were given a dividend of $0.49 per share. This is an increase from Kodiak Gas Services’s previous quarterly dividend of $0.45. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Monday, November 3rd. Kodiak Gas Services’s dividend payout ratio (DPR) is currently 245.00%.

Kodiak Gas Services announced that its Board of Directors has authorized a stock buyback program on Monday, August 11th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to buy up to 1.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Kodiak Gas Services Company 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.