Merewether Investment Management LP Makes New Investment in Kodiak Gas Services, Inc. (NYSE:KGS)

Merewether Investment Management LP acquired a new position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 260,000 shares of the company's stock, valued at approximately $7,540,000. Merewether Investment Management LP owned about 0.30% of Kodiak Gas Services as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Kodiak Gas Services during the third quarter valued at about $9,741,000. Verition Fund Management LLC raised its holdings in shares of Kodiak Gas Services by 80.2% during the third quarter. Verition Fund Management LLC now owns 39,360 shares of the company's stock valued at $1,141,000 after purchasing an additional 17,522 shares during the period. FORA Capital LLC acquired a new position in shares of Kodiak Gas Services during the third quarter valued at about $431,000. Quantbot Technologies LP raised its holdings in shares of Kodiak Gas Services by 78.8% during the third 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 period. Finally, FMR LLC raised its holdings in shares of Kodiak Gas Services by 444.4% during the third 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 period. Institutional investors own 24.95% of the company's stock.

Kodiak Gas Services Stock Up 0.5 %

Shares of NYSE KGS traded up $0.21 during midday trading on Wednesday, hitting $40.70. The stock had a trading volume of 971,079 shares, compared to its average volume of 541,246. The business's 50 day moving average is $33.87 and its 200-day moving average is $29.52. The company has a market cap of $3.56 billion, a P/E ratio of 139.63 and a beta of 1.14. Kodiak Gas Services, Inc. has a 52 week low of $17.52 and a 52 week high of $41.25. 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 was paid on Friday, November 8th. Investors of record on Friday, November 1st were given a dividend of $0.41 per share. The ex-dividend date was Friday, November 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.03%. Kodiak Gas Services's dividend payout ratio (DPR) is 565.54%.

Insider Activity at Kodiak Gas Services

In related news, insider Ewan William Hamilton sold 3,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $40.45, for a total transaction of $121,350.00. Following the transaction, the insider now owns 31,745 shares in the company, valued at $1,284,085.25. This 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 the SEC website. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on KGS. JPMorgan Chase & Co. upped their price objective on shares of Kodiak Gas Services from $34.00 to $42.00 and gave the company a "neutral" rating in a report on Friday, November 29th. Mizuho assumed coverage on shares of Kodiak Gas Services in a research report on Wednesday, October 2nd. They issued an "outperform" rating and a $36.00 price target on the stock. Citigroup started coverage on shares of Kodiak Gas Services in a research report on Friday, September 27th. They issued a "buy" rating and a $35.00 price target on the stock. Stifel Nicolaus lifted their target price on shares of Kodiak Gas Services from $31.00 to $35.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. Finally, Barclays lifted their target price on shares of Kodiak Gas Services from $29.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $37.09.

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.