Wellington Management Group LLP Invests $44.56 Million in Kodiak Gas Services, Inc. (NYSE:KGS)

Wellington Management Group LLP bought a new stake in shares of Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,536,494 shares of the company's stock, valued at approximately $44,558,000. Wellington Management Group LLP owned approximately 1.75% of Kodiak Gas Services at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Two Sigma Advisers LP grew its position in shares of Kodiak Gas Services by 50.3% in the third quarter. Two Sigma Advisers LP now owns 605,100 shares of the company's stock valued at $17,548,000 after purchasing an additional 202,400 shares during the last quarter. State Street Corp increased its position in Kodiak Gas Services by 8.7% in the 3rd quarter. State Street Corp now owns 678,925 shares of the company's stock worth $19,689,000 after buying an additional 54,202 shares during the period. Stifel Financial Corp acquired a new position in shares of Kodiak Gas Services during the third quarter worth approximately $425,000. Quadrature Capital Ltd bought a new stake in shares of Kodiak Gas Services in the third quarter valued at approximately $242,000. Finally, Merewether Investment Management LP acquired a new stake in shares of Kodiak Gas Services in the third quarter worth $7,540,000. Institutional investors and hedge funds own 24.95% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Raymond James boosted 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. Mizuho initiated coverage on Kodiak Gas Services in a report on Wednesday, October 2nd. They set an "outperform" rating and a $36.00 price objective on the stock. Barclays upped their target price on Kodiak Gas Services from $29.00 to $32.00 and gave the company an "equal weight" rating in a research note on Monday, October 7th. Citigroup initiated coverage on shares of Kodiak Gas Services in a research note on Friday, September 27th. They set a "buy" rating and a $35.00 price target on the stock. Finally, Royal Bank of Canada boosted their price target on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $37.09.

Insider Transactions at Kodiak Gas Services

In related news, insider Ewan William Hamilton sold 3,000 shares of the firm's stock in a transaction that occurred on 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 SEC, which is available at the SEC website. Company insiders own 0.18% of the company's stock.

Kodiak Gas Services Price Performance

Shares of NYSE KGS traded down $1.69 during mid-day trading on Thursday, hitting $41.85. 1,713,403 shares of the stock were exchanged, compared to its average volume of 551,381. Kodiak Gas Services, Inc. has a twelve month low of $17.80 and a twelve month high of $44.20. The stock's fifty day simple moving average is $35.37 and its two-hundred day simple moving average is $30.10. 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 company has a market cap of $3.67 billion, a P/E ratio of 150.18 and a beta of 1.13.

Kodiak Gas Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, November 1st were issued 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 3.92%. Kodiak Gas Services's dividend payout ratio is 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.