Jennison Associates LLC Lowers Stake in Kodiak Gas Services, Inc. (NYSE:KGS)

Jennison Associates LLC decreased its holdings in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 36.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 207,943 shares of the company's stock after selling 117,101 shares during the period. Jennison Associates LLC owned about 0.24% of Kodiak Gas Services worth $8,490,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC increased its stake in Kodiak Gas Services by 444.4% in the 3rd quarter. FMR LLC now owns 4,889,804 shares of the company's stock worth $141,804,000 after buying an additional 3,991,630 shares during the period. Zimmer Partners LP increased its position in shares of Kodiak Gas Services by 313.0% during the third quarter. Zimmer Partners LP now owns 1,779,851 shares of the company's stock worth $51,616,000 after acquiring an additional 1,348,899 shares during the period. Wellington Management Group LLP bought a new stake in shares of Kodiak Gas Services during the third quarter valued at approximately $44,558,000. State Street Corp boosted 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 valued at $19,689,000 after purchasing an additional 54,202 shares during the period. Finally, Two Sigma Advisers LP grew its stake in Kodiak Gas Services by 50.3% in the third quarter. Two Sigma Advisers LP now owns 605,100 shares of the company's stock worth $17,548,000 after purchasing an additional 202,400 shares in the last quarter. 24.95% of the stock is currently owned by institutional investors.

Insider Activity at Kodiak Gas Services

In other Kodiak Gas Services news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of Kodiak Gas Services stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $47.50, for a total transaction of $177,112,157.50. Following the completion of the sale, the insider now directly 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ewan William Hamilton sold 3,000 shares of the 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 in the company, valued at $1,284,085.25. The trade was a 8.63 % decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Kodiak Gas Services Stock Down 2.4 %

Shares of Kodiak Gas Services stock traded down $1.10 during trading on Friday, reaching $45.28. The company's stock had a trading volume of 1,330,299 shares, compared to its average volume of 1,120,178. The company has a 50-day simple moving average of $43.56 and a two-hundred day simple moving average of $35.04. Kodiak Gas Services, Inc. has a 1-year low of $23.12 and a 1-year high of $50.43. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 156.14 and a beta of 1.18. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 1.86.

Kodiak Gas Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 14th will be issued a dividend of $0.41 per share. The ex-dividend date is Friday, February 14th. This represents a $1.64 annualized dividend and a dividend yield of 3.62%. Kodiak Gas Services's dividend payout ratio (DPR) is currently 565.54%.

Analyst Ratings Changes

KGS has been the subject of several research reports. Mizuho upped their target price on Kodiak Gas Services from $47.00 to $55.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. upped their price objective on shares of Kodiak Gas Services from $34.00 to $42.00 and gave the stock a "neutral" rating in a research note on Friday, November 29th. Raymond James raised their target price on shares of Kodiak Gas Services from $35.00 to $39.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Truist Financial upped their price target on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Finally, Barclays lifted their price objective on shares of Kodiak Gas Services from $32.00 to $44.00 and gave the company an "equal weight" rating in a report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $41.09.

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.