Geode Capital Management LLC Boosts Stake in Kodiak Gas Services, Inc. (NYSE:KGS)

Geode Capital Management LLC grew its holdings in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 16.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 547,815 shares of the company's stock after buying an additional 78,811 shares during the quarter. Geode Capital Management LLC owned approximately 0.63% of Kodiak Gas Services worth $15,890,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in KGS. Bank of New York Mellon Corp lifted its stake in Kodiak Gas Services by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 542,281 shares of the company's stock worth $14,783,000 after acquiring an additional 7,640 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Kodiak Gas Services by 115.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,691 shares of the company's stock worth $155,000 after purchasing an additional 3,045 shares in the last quarter. nVerses Capital LLC lifted its position in shares of Kodiak Gas Services by 90.9% in the 2nd quarter. nVerses Capital LLC now owns 2,100 shares of the company's stock worth $57,000 after purchasing an additional 1,000 shares during the period. Augustine Asset Management Inc. bought a new stake in shares of Kodiak Gas Services during the 2nd quarter valued at about $938,000. Finally, Rhumbline Advisers increased its position in shares of Kodiak Gas Services by 36.4% during the second quarter. Rhumbline Advisers now owns 29,943 shares of the company's stock valued at $816,000 after buying an additional 7,995 shares during the period. 24.95% of the stock is currently owned by institutional investors.

Kodiak Gas Services Stock Performance

Shares of NYSE KGS traded up $0.47 during trading on Monday, reaching $40.92. 861,408 shares of the company traded hands, compared to its average volume of 578,014. 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 $37.69 and a 200-day simple moving average of $31.41. Kodiak Gas Services, Inc. has a 52-week low of $20.01 and a 52-week high of $44.20. The stock has a market capitalization of $3.58 billion, a PE ratio of 141.11 and a beta of 1.14.

Kodiak Gas Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend was Friday, November 1st. Kodiak Gas Services's dividend payout ratio (DPR) is presently 565.52%.

Wall Street Analysts Forecast Growth

KGS has been the subject of several research analyst reports. Royal Bank of Canada raised their price objective on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. Barclays boosted their target price on shares of Kodiak Gas Services from $29.00 to $32.00 and gave the company an "equal weight" rating in a report on Monday, October 7th. Redburn Atlantic began coverage on shares of Kodiak Gas Services in a research report on Thursday, September 19th. They set a "buy" rating and a $35.00 price target for the company. Raymond James upped their price objective on shares of Kodiak Gas Services from $35.00 to $39.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group upped their price target on Kodiak Gas Services from $32.00 to $44.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $37.09.

Insider Buying and Selling at Kodiak Gas Services

In other news, insider Ewan William Hamilton sold 3,000 shares of the company's stock in a transaction dated Thursday, November 21st. The shares were 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 represents a 8.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.18% of the company's stock.

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.