Bank of New York Mellon Corp Sells 137,393 Shares of Kodiak Gas Services, Inc. (NYSE:KGS)

Bank of New York Mellon Corp decreased its position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 26.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 391,144 shares of the company's stock after selling 137,393 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.45% of Kodiak Gas Services worth $15,970,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Kodiak Gas Services by 94.7% in the fourth quarter. GAMMA Investing LLC now owns 703 shares of the company's stock worth $29,000 after purchasing an additional 342 shares in the last quarter. Transcendent Capital Group LLC bought a new position in Kodiak Gas Services in the fourth quarter worth $49,000. Mendota Financial Group LLC bought a new position in Kodiak Gas Services in the fourth quarter worth $122,000. Kestra Investment Management LLC bought a new position in Kodiak Gas Services in the fourth quarter worth $233,000. Finally, Quadrature Capital Ltd bought a new position in Kodiak Gas Services in the third quarter worth $242,000. Institutional investors own 24.95% of the company's stock.

Kodiak Gas Services Trading Up 6.0 %

Shares of NYSE:KGS opened at $35.25 on Wednesday. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 121.56 and a beta of 1.30. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.93 and a current ratio of 1.27. The stock's 50-day simple moving average is $44.16 and its two-hundred day simple moving average is $37.38. Kodiak Gas Services, Inc. has a 52-week low of $24.83 and a 52-week high of $50.43.

Remove Ads

Kodiak Gas Services (NYSE:KGS - Get Free Report) last announced its earnings results on Wednesday, March 5th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.15). Kodiak Gas Services had a return on equity of 7.91% and a net margin of 2.23%. The firm had revenue of $309.52 million during the quarter, compared to analysts' expectations of $323.82 million. Analysts expect that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 14th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 4.65%. The ex-dividend date was Friday, February 14th. Kodiak Gas Services's dividend payout ratio (DPR) is currently 277.97%.

Insider Transactions at Kodiak Gas Services

In other news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of the firm's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $47.50, for a total value of $177,112,157.50. Following the transaction, the insider now owns 34,771,323 shares of the company's stock, valued at $1,651,637,842.50. This trade represents a 9.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Mizuho raised their price target on Kodiak Gas Services from $47.00 to $55.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Citigroup raised their price target on Kodiak Gas Services from $41.00 to $48.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Raymond James restated an "outperform" rating on shares of Kodiak Gas Services in a report on Friday. The Goldman Sachs Group increased their price objective on Kodiak Gas Services from $32.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Finally, Truist Financial increased their price objective on Kodiak Gas Services from $45.00 to $47.00 and gave the company a "buy" rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $41.73.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.