Exchange Traded Concepts LLC Grows Stake in Kodiak Gas Services, Inc. $KGS

Exchange Traded Concepts LLC raised its position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 57.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,204 shares of the company’s stock after purchasing an additional 24,055 shares during the period. Exchange Traded Concepts LLC’s holdings in Kodiak Gas Services were worth $2,448,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Viking Fund Management LLC increased its stake in shares of Kodiak Gas Services by 42.7% during the third quarter. Viking Fund Management LLC now owns 127,000 shares of the company’s stock valued at $4,695,000 after buying an additional 38,000 shares during the period. U.S. Capital Wealth Advisors LLC increased its position in Kodiak Gas Services by 28.9% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 38,113 shares of the company’s stock valued at $1,409,000 after purchasing an additional 8,540 shares during the period. Salem Investment Counselors Inc. raised its holdings in shares of Kodiak Gas Services by 100.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 3,000 shares of the company’s stock valued at $111,000 after purchasing an additional 1,500 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of Kodiak Gas Services by 545.8% in the 2nd quarter. Squarepoint Ops LLC now owns 228,073 shares of the company’s stock valued at $7,816,000 after purchasing an additional 192,754 shares in the last quarter. Finally, Tyler Stone Wealth Management purchased a new stake in shares of Kodiak Gas Services in the 2nd quarter worth approximately $1,068,000. Institutional investors own 24.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KGS. Zacks Research lowered shares of Kodiak Gas Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kodiak Gas Services in a report on Monday. Wall Street Zen lowered Kodiak Gas Services from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. William Blair began coverage on Kodiak Gas Services in a research note on Tuesday, November 18th. They set an “outperform” rating for the company. Finally, Barclays cut their target price on Kodiak Gas Services from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Kodiak Gas Services currently has an average rating of “Moderate Buy” and an average price target of $44.29.

Kodiak Gas Services Stock Down 0.9%

Shares of KGS stock opened at $36.72 on Friday. The stock’s fifty day moving average price is $35.41 and its 200 day moving average price is $34.46. Kodiak Gas Services, Inc. has a 1-year low of $29.25 and a 1-year high of $50.43. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 45.90 and a beta of 1.33. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.98 and a quick ratio of 0.69.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.14). Kodiak Gas Services had a net margin of 5.84% and a return on equity of 10.37%. The business had revenue of $322.74 million during the quarter, compared to analysts’ expectations of $328.23 million. During the same quarter last year, the business posted ($0.07) earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, research analysts expect that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current fiscal year.

Kodiak Gas Services Increases Dividend

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

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. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings.