Fmr LLC Purchases 2,452,492 Shares of Kodiak Gas Services, Inc. (NYSE:KGS)

FMR LLC increased its position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 50.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,342,296 shares of the company's stock after purchasing an additional 2,452,492 shares during the quarter. FMR LLC owned approximately 8.38% of Kodiak Gas Services worth $299,786,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. grew its position in shares of Kodiak Gas Services by 77.6% during the 4th quarter. Federated Hermes Inc. now owns 168,037 shares of the company's stock worth $6,861,000 after buying an additional 73,406 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Kodiak Gas Services in the fourth quarter valued at approximately $234,000. Wells Fargo & Company MN grew its holdings in Kodiak Gas Services by 102.3% during the 4th quarter. Wells Fargo & Company MN now owns 19,035 shares of the company's stock worth $777,000 after acquiring an additional 9,624 shares during the period. Pamalican Asset Management Ltd bought a new stake in shares of Kodiak Gas Services during the 4th quarter valued at $12,249,000. Finally, Bryce Point Capital LLC acquired a new position in shares of Kodiak Gas Services in the 4th quarter valued at $950,000. 24.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Mizuho upped their price objective on Kodiak Gas Services from $47.00 to $55.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Barclays lowered their price target on Kodiak Gas Services from $41.00 to $36.00 and set an "equal weight" rating for the company in a research note on Wednesday. Royal Bank of Canada set a $45.00 price objective on shares of Kodiak Gas Services and gave the company an "outperform" rating in a report on Tuesday, March 11th. Citigroup increased their target price on shares of Kodiak Gas Services from $41.00 to $48.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Finally, Truist Financial boosted their price target 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. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $41.45.

Insider Buying and Selling

In other Kodiak Gas Services news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of the firm'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 transaction, the insider now directly owns 34,771,323 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is currently owned by corporate insiders.

Kodiak Gas Services Stock Up 1.7 %

NYSE KGS traded up $0.57 on Wednesday, reaching $34.05. The company had a trading volume of 139,742 shares, compared to its average volume of 1,164,769. The company's fifty day moving average is $38.57 and its 200-day moving average is $38.79. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 117.40 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, Inc. has a 1-year low of $24.83 and a 1-year high of $50.43.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.15). The firm had revenue of $309.52 million for the quarter, compared to analyst estimates of $323.82 million. Kodiak Gas Services had a return on equity of 7.91% and a net margin of 2.23%. On average, research analysts forecast that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 14th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date was Friday, February 14th. Kodiak Gas Services's dividend payout ratio is presently 277.97%.

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.