Covalis Capital LLP Makes New $3.06 Million Investment in Kodiak Gas Services, Inc. (NYSE:KGS)

Covalis Capital LLP acquired a new stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 75,000 shares of the company's stock, valued at approximately $3,062,000. Covalis Capital LLP owned about 0.09% of Kodiak Gas Services at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tidal Investments LLC purchased a new position in Kodiak Gas Services during the third quarter valued at $598,000. Barclays PLC boosted its holdings in shares of Kodiak Gas Services by 209.3% during the 3rd quarter. Barclays PLC now owns 42,350 shares of the company's stock valued at $1,228,000 after purchasing an additional 28,658 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Kodiak Gas Services by 155.8% during the fourth quarter. Victory Capital Management Inc. now owns 262,329 shares of the company's stock valued at $10,711,000 after purchasing an additional 159,772 shares in the last quarter. State Street Corp increased its holdings in shares of Kodiak Gas Services by 8.7% in the third quarter. State Street Corp now owns 678,925 shares of the company's stock worth $19,689,000 after purchasing an additional 54,202 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Kodiak Gas Services by 16.8% in the third quarter. Geode Capital Management LLC now owns 547,815 shares of the company's stock worth $15,890,000 after buying an additional 78,811 shares in the last quarter. Institutional investors own 24.95% of the company's stock.

Kodiak Gas Services Trading Up 1.2 %

NYSE KGS traded up $0.40 during trading on Tuesday, hitting $33.21. The stock had a trading volume of 462,885 shares, compared to its average volume of 788,699. Kodiak Gas Services, Inc. has a one year low of $24.84 and a one year high of $50.43. The stock has a 50 day simple moving average of $37.43 and a 200 day simple moving average of $38.92. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 114.53 and a beta of 1.52. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.93 and a current ratio of 1.27.

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

Kodiak Gas Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 14th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend was Friday, February 14th. Kodiak Gas Services's payout ratio is presently 277.97%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. 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. Truist Financial raised their target price on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. Mizuho upped their price target on shares of Kodiak Gas Services from $47.00 to $55.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Barclays dropped their price objective on shares of Kodiak Gas Services from $41.00 to $36.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Raymond James restated an "outperform" rating on shares of Kodiak Gas Services in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $41.45.

Insider Buying and Selling

In related news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the insider now owns 34,771,323 shares in the company, valued at approximately $1,651,637,842.50. The trade was a 9.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is currently owned by insiders.

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.