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

Merewether Investment Management LP acquired a new position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) during the third quarter, Holdings Channel reports. The fund acquired 260,000 shares of the company’s stock, valued at approximately $7,540,000.

Other institutional investors have also recently made changes to their positions in the company. Security National Bank bought a new stake in shares of Kodiak Gas Services during the 2nd quarter worth $39,000. HWG Holdings LP bought a new stake in shares of Kodiak Gas Services in the second quarter valued at approximately $40,000. nVerses Capital LLC lifted its stake in shares of Kodiak Gas Services by 90.9% during the 2nd quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock valued at $57,000 after buying an additional 1,000 shares in the last quarter. SG Americas Securities LLC bought a new position in Kodiak Gas Services in the 3rd quarter worth approximately $125,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in 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 buying an additional 3,045 shares in the last quarter. Institutional investors own 24.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citigroup started coverage on Kodiak Gas Services in a research report on Friday, September 27th. They issued a “buy” rating and a $35.00 price target for the company. Barclays upped their price target 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. Raymond James increased their price target 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. The Goldman Sachs Group boosted their price objective on shares of Kodiak Gas Services from $32.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Truist Financial increased their target price on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.09.

Kodiak Gas Services Trading Up 0.8 %

NYSE KGS opened at $40.49 on Wednesday. The stock’s 50-day simple moving average is $33.87 and its two-hundred day simple moving average is $29.52. Kodiak Gas Services, Inc. has a twelve month low of $17.52 and a twelve month 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. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 139.63 and a beta of 1.14.

Kodiak Gas Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, November 1st were given a $0.41 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.05%. Kodiak Gas Services’s payout ratio is 565.54%.

Insiders Place Their Bets

In related news, insider Ewan William Hamilton sold 3,000 shares of Kodiak Gas Services stock in a transaction 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 transaction, the insider now owns 31,745 shares in the company, valued at $1,284,085.25. This trade represents a 8.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by insiders.

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.