Fifth Third Bancorp Purchases 21,656 Shares of Kodiak Gas Services, Inc. $KGS

Fifth Third Bancorp boosted its holdings in shares of Kodiak Gas Services, Inc. (NYSE:KGS) by 3,567.7% during the first quarter, Holdings Channel reports. The institutional investor owned 22,263 shares of the company’s stock after acquiring an additional 21,656 shares during the quarter. Fifth Third Bancorp’s holdings in Kodiak Gas Services were worth $1,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Montag A & Associates Inc. acquired a new stake in shares of Kodiak Gas Services during the 1st quarter valued at about $119,000. Abel Hall LLC acquired a new position in shares of Kodiak Gas Services in the 1st quarter worth approximately $248,000. Hardy Reed LLC acquired a new position in shares of Kodiak Gas Services in the 1st quarter worth approximately $356,000. Strs Ohio lifted its position in shares of Kodiak Gas Services by 2,600.0% during the 1st quarter. Strs Ohio now owns 5,400 shares of the company’s stock worth $315,000 after buying an additional 5,200 shares during the period. Finally, Louisiana State Employees Retirement System bought a new position in shares of Kodiak Gas Services during the 1st quarter worth approximately $2,152,000. Institutional investors own 24.95% of the company’s stock.

Kodiak Gas Services Stock Down 9.8%

Shares of Kodiak Gas Services stock opened at $58.90 on Friday. The business has a 50-day moving average of $69.05 and a two-hundred day moving average of $59.40. Kodiak Gas Services, Inc. has a 1 year low of $30.06 and a 1 year high of $77.68. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.28 and a quick ratio of 0.99. The company has a market capitalization of $5.23 billion, a P/E ratio of 79.59, a price-to-earnings-growth ratio of 1.02 and a beta of 0.89.

Kodiak Gas Services (NYSE:KGS) last released its earnings results on Monday, May 11th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.54 by $0.05. Kodiak Gas Services had a return on equity of 13.12% and a net margin of 5.13%.The firm had revenue of $345.76 million for the quarter, compared to analysts’ expectations of $340.23 million. During the same quarter in the previous year, the business posted $0.33 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts predict that Kodiak Gas Services, Inc. will post 2.27 EPS for the current year.

Kodiak Gas Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Monday, May 18th were given a $0.49 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.3%. Kodiak Gas Services’s payout ratio is currently 264.86%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Barclays lowered their price target on Kodiak Gas Services from $76.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 8th. Royal Bank Of Canada lifted their price objective on Kodiak Gas Services from $64.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, May 18th. Stifel Nicolaus boosted their target price on shares of Kodiak Gas Services from $84.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Zacks Research raised shares of Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Finally, Wells Fargo & Company started coverage on shares of Kodiak Gas Services in a research report on Wednesday, May 27th. They set an “overweight” rating and a $93.00 target price for the company. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $79.50.

Insider Buying and Selling

In related news, EVP Cory Anne Roclawski sold 4,169 shares of the business’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $68.36, for a total transaction of $284,992.84. Following the transaction, the executive vice president directly owned 24,662 shares in the company, valued at approximately $1,685,894.32. The trade was a 14.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ewan William Hamilton sold 2,729 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $68.62, for a total transaction of $187,263.98. Following the sale, the chief accounting officer directly owned 31,617 shares in the company, valued at $2,169,558.54. This trade represents a 7.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,523 shares of company stock worth $921,319 in the last three months. Insiders own 0.64% of the company’s stock.

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.