Merewether Investment Management LP Buys Shares of 260,000 Kodiak Gas Services, Inc. (NYSE:KGS)

Merewether Investment Management LP purchased a new position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 260,000 shares of the company’s stock, valued at approximately $7,540,000. Merewether Investment Management LP owned 0.30% of Kodiak Gas Services at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in KGS. U.S. Capital Wealth Advisors LLC bought a new position in shares of Kodiak Gas Services in the second quarter worth about $913,000. Security National Bank bought a new stake in shares of Kodiak Gas Services during the second quarter worth $39,000. Bank of New York Mellon Corp increased its holdings in shares of Kodiak Gas Services by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 542,281 shares of the company’s stock worth $14,783,000 after buying an additional 7,640 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Kodiak Gas Services by 115.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,691 shares of the company’s stock valued at $155,000 after acquiring an additional 3,045 shares during the last quarter. Finally, UMB Bank n.a. bought a new stake in Kodiak Gas Services during the 2nd quarter worth $174,000. Institutional investors own 24.95% of the company’s stock.

Insider Buying and Selling

In other Kodiak Gas Services news, insider Ewan William Hamilton sold 3,000 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 31,745 shares in the company, valued at approximately $1,284,085.25. The trade was a 8.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on KGS. Barclays increased their target price on Kodiak Gas Services from $29.00 to $32.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Citigroup began coverage on shares of Kodiak Gas Services in a report on Friday, September 27th. They set a “buy” rating and a $35.00 target price on the stock. Truist Financial raised their price target on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Bank of America began coverage on shares of Kodiak Gas Services in a research note on Wednesday, September 18th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price on Kodiak Gas Services from $34.00 to $42.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $37.09.

Kodiak Gas Services Trading Up 0.8 %

Shares of KGS stock opened at $40.49 on Wednesday. Kodiak Gas Services, Inc. has a fifty-two week low of $17.52 and a fifty-two week high of $41.25. 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 stock has a 50 day simple moving average of $33.87 and a two-hundred day simple moving average of $29.52. The company has a market cap of $3.55 billion, a P/E ratio of 139.63 and a beta of 1.14.

Kodiak Gas Services Announces Dividend

The business also recently announced 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 of this dividend was Friday, November 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.05%. Kodiak Gas Services’s payout ratio is presently 565.54%.

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.