Franklin Resources Inc. Makes New $1.24 Million Investment in Kodiak Gas Services, Inc. (NYSE:KGS)

Franklin Resources Inc. purchased a new stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 39,052 shares of the company's stock, valued at approximately $1,242,000.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new stake in shares of Kodiak Gas Services during the 3rd quarter valued at about $610,000. Victory Capital Management Inc. acquired a new stake in Kodiak Gas Services in the third quarter valued at approximately $2,974,000. Chesapeake Capital Corp IL purchased a new stake in shares of Kodiak Gas Services in the third quarter valued at approximately $603,000. Tidal Investments LLC acquired a new position in shares of Kodiak Gas Services during the 3rd quarter worth approximately $598,000. Finally, HWG Holdings LP lifted its position in shares of Kodiak Gas Services by 5,435.7% during the 3rd quarter. HWG Holdings LP now owns 80,932 shares of the company's stock valued at $2,347,000 after buying an additional 79,470 shares in the last quarter. 24.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on KGS. Mizuho assumed coverage on shares of Kodiak Gas Services in a research report on Wednesday, October 2nd. They set an "outperform" rating and a $36.00 price objective for the company. Raymond James upped their price target on shares of Kodiak Gas Services from $35.00 to $39.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective on Kodiak Gas Services from $34.00 to $42.00 and gave the stock a "neutral" rating in a report on Friday, November 29th. Royal Bank of Canada increased their target price on Kodiak Gas Services from $35.00 to $40.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Finally, Redburn Atlantic began coverage on Kodiak Gas Services in a research note on Thursday, September 19th. They issued a "buy" rating and a $35.00 price target on the stock. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Kodiak Gas Services presently has an average rating of "Moderate Buy" and a consensus target price of $37.09.

Kodiak Gas Services Trading Down 1.1 %

Shares of KGS traded down $0.46 during midday trading on Friday, reaching $40.45. The company had a trading volume of 849,943 shares, compared to its average volume of 576,881. Kodiak Gas Services, Inc. has a 1-year low of $19.88 and a 1-year high of $44.20. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 1.86. The firm has a 50 day simple moving average of $37.48 and a 200-day simple moving average of $31.24. The stock has a market cap of $3.54 billion, a PE ratio of 139.49 and a beta of 1.14.

Kodiak Gas Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, November 1st were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend was Friday, November 1st. Kodiak Gas Services's payout ratio is currently 565.52%.

Insiders Place Their Bets

In other Kodiak Gas Services news, insider Ewan William Hamilton sold 3,000 shares of the firm's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $40.45, for a total transaction of $121,350.00. Following the completion of the sale, the insider now owns 31,745 shares of the company's stock, valued at $1,284,085.25. This trade represents a 8.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by insiders.

Kodiak Gas Services Company 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.