HWG Holdings LP Sells 112,079 Shares of Kodiak Gas Services, Inc. $KGS

by · The Markets Daily

HWG Holdings LP reduced its position in shares of Kodiak Gas Services, Inc. (NYSE:KGS – Free Report) by 75.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 36,043 shares of the company’s stock after selling 112,079 shares during the quarter. HWG Holdings LP’s holdings in Kodiak Gas Services were worth $1,235,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KGS. Quarry LP bought a new stake in Kodiak Gas Services during the 1st quarter valued at $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Kodiak Gas Services in the 1st quarter worth $37,000. Salem Investment Counselors Inc. bought a new position in Kodiak Gas Services in the 2nd quarter worth $51,000. State of Wyoming bought a new position in Kodiak Gas Services in the 4th quarter worth $57,000. Finally, Amalgamated Bank raised its holdings in Kodiak Gas Services by 40.0% in the 1st quarter. Amalgamated Bank now owns 1,554 shares of the company’s stock worth $58,000 after purchasing an additional 444 shares in the last quarter. 24.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KGS has been the subject of several research reports. Zacks Research lowered shares of Kodiak Gas Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 10th. Mizuho increased their price target on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $43.00 price target (up from $42.00) on shares of Kodiak Gas Services in a research note on Monday, June 23rd. Barclays increased their price target on shares of Kodiak Gas Services from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 14th. Finally, Royal Bank Of Canada increased their price target on shares of Kodiak Gas Services from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 13th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.56.

View Our Latest Report on Kodiak Gas Services

Kodiak Gas Services Price Performance

NYSE KGS opened at $32.98 on Thursday. Kodiak Gas Services, Inc. has a 12 month low of $28.14 and a 12 month high of $50.43. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 36.64 and a beta of 1.34. The company’s 50 day moving average is $33.52 and its two-hundred day moving average is $34.53. The company has a current ratio of 1.10, a quick ratio of 0.78 and a debt-to-equity ratio of 1.89.

Kodiak Gas Services (NYSE:KGS – Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Kodiak Gas Services had a net margin of 6.48% and a return on equity of 10.35%. The company had revenue of $322.84 million for the quarter, compared to analysts’ expectations of $335.10 million. During the same quarter last year, the business earned $0.06 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. As a group, research analysts anticipate that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current year.

Kodiak Gas Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 4th were given a dividend of $0.45 per share. The ex-dividend date was Monday, August 4th. This represents a $1.80 annualized dividend and a dividend yield of 5.5%. Kodiak Gas Services’s dividend payout ratio (DPR) is presently 200.00%.

Kodiak Gas Services announced that its board has initiated a stock repurchase plan on Monday, August 11th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 1.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Kodiak Gas Services Profile

(Free Report)

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.

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