Norges Bank Invests $766,000 in Kodiak Gas Services, Inc. (NYSE:KGS)

Norges Bank purchased a new position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 18,763 shares of the company's stock, valued at approximately $766,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Kodiak Gas Services by 52.3% in the 4th quarter. Vanguard Group Inc. now owns 2,659,015 shares of the company's stock valued at $108,568,000 after buying an additional 913,104 shares during the period. American Century Companies Inc. grew its stake in shares of Kodiak Gas Services by 26.4% in the fourth quarter. American Century Companies Inc. now owns 939,459 shares of the company's stock worth $38,358,000 after acquiring an additional 196,273 shares in the last quarter. State Street Corp increased its holdings in Kodiak Gas Services by 8.7% during the 3rd quarter. State Street Corp now owns 678,925 shares of the company's stock worth $19,689,000 after purchasing an additional 54,202 shares during the period. Augustine Asset Management Inc. increased its stake in shares of Kodiak Gas Services by 1,761.2% during the fourth quarter. Augustine Asset Management Inc. now owns 640,244 shares of the company's stock worth $26,141,000 after buying an additional 605,844 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Kodiak Gas Services by 16.8% in the 3rd quarter. Geode Capital Management LLC now owns 547,815 shares of the company's stock valued at $15,890,000 after purchasing an additional 78,811 shares during the last quarter. Institutional investors and hedge funds own 24.95% of the company's stock.

Wall Street Analysts Forecast Growth

KGS has been the topic of a number of recent analyst reports. Barclays dropped their price objective on Kodiak Gas Services from $41.00 to $36.00 and set an "equal weight" rating on the stock in a report on Wednesday. Mizuho upped their target price on shares of Kodiak Gas Services from $47.00 to $55.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Truist Financial lifted their price objective on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. Royal Bank of Canada set a $45.00 price objective on Kodiak Gas Services and gave the company an "outperform" rating in a report on Tuesday, March 11th. Finally, Raymond James reaffirmed an "outperform" rating on shares of Kodiak Gas Services in a research note on Friday, March 7th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Kodiak Gas Services presently has a consensus rating of "Moderate Buy" and an average price target of $41.45.

Kodiak Gas Services Trading Up 2.9 %

Shares of Kodiak Gas Services stock traded up $1.00 during mid-day trading on Thursday, hitting $34.83. 82,468 shares of the stock were exchanged, compared to its average volume of 779,717. The company has a current ratio of 1.27, a quick ratio of 0.93 and a debt-to-equity ratio of 1.86. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 119.87 and a beta of 1.52. The company has a 50-day simple moving average of $38.34 and a 200 day simple moving average of $38.76. Kodiak Gas Services, Inc. has a twelve month low of $24.84 and a twelve month high of $50.43.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last released its earnings results on Wednesday, March 5th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.15). Kodiak Gas Services had a return on equity of 7.91% and a net margin of 2.23%. The business had revenue of $309.52 million for the quarter, compared to analysts' expectations of $323.82 million. Research analysts forecast that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend was Friday, February 14th. Kodiak Gas Services's payout ratio is currently 277.97%.

Insider Activity

In other news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $47.50, for a total value of $177,112,157.50. Following the completion of the sale, the insider now owns 34,771,323 shares in the company, valued at approximately $1,651,637,842.50. This trade represents a 9.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.27% of the company's stock.

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.