Jacobs Levy Equity Management Inc. Trims Stock Position in Kodiak Gas Services, Inc. (NYSE:KGS)

Jacobs Levy Equity Management Inc. lessened its holdings in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 15.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 347,035 shares of the company's stock after selling 65,668 shares during the period. Jacobs Levy Equity Management Inc. owned 0.40% of Kodiak Gas Services worth $10,064,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC purchased a new stake in Kodiak Gas Services in the 3rd quarter worth $9,741,000. Verition Fund Management LLC increased its stake in Kodiak Gas Services by 80.2% in the 3rd quarter. Verition Fund Management LLC now owns 39,360 shares of the company's stock worth $1,141,000 after buying an additional 17,522 shares in the last quarter. FORA Capital LLC purchased a new stake in Kodiak Gas Services in the 3rd quarter worth $431,000. Quantbot Technologies LP boosted its holdings in shares of Kodiak Gas Services by 78.8% during the 3rd quarter. Quantbot Technologies LP now owns 54,340 shares of the company's stock valued at $1,576,000 after purchasing an additional 23,947 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Kodiak Gas Services by 444.4% during the 3rd quarter. FMR LLC now owns 4,889,804 shares of the company's stock valued at $141,804,000 after purchasing an additional 3,991,630 shares during the last quarter. Hedge funds and other institutional investors own 24.95% of the company's stock.

Analyst Ratings Changes

KGS has been the subject of several research reports. Redburn Atlantic initiated coverage on shares of Kodiak Gas Services in a report on Thursday, September 19th. They set a "buy" rating and a $35.00 price objective for the company. Citigroup initiated coverage on shares of Kodiak Gas Services in a report on Friday, September 27th. They set a "buy" rating and a $35.00 price objective for the company. Truist Financial increased their price objective on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the company a "buy" rating in a report on Friday, November 8th. Mizuho initiated coverage on shares of Kodiak Gas Services in a report on Wednesday, October 2nd. They set an "outperform" rating and a $36.00 price objective for the company. Finally, Stifel Nicolaus increased their price objective on shares of Kodiak Gas Services from $31.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, August 14th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Kodiak Gas Services currently has an average rating of "Moderate Buy" and an average price target of $37.09.

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 dated Thursday, November 21st. The shares were sold at an average price of $40.45, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by insiders.

Kodiak Gas Services Trading Down 1.7 %

NYSE KGS traded down $0.71 during trading on Friday, hitting $41.15. The stock had a trading volume of 645,718 shares, compared to its average volume of 541,810. 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 has a market capitalization of $3.60 billion, a price-to-earnings ratio of 144.35 and a beta of 1.14. Kodiak Gas Services, Inc. has a one year low of $17.52 and a one year high of $42.02. The stock has a 50 day simple moving average of $34.35 and a 200 day simple moving average of $29.69.

Kodiak Gas Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend was Friday, November 1st. Kodiak Gas Services's payout ratio is currently 565.54%.

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.