B. Riley Wealth Advisors Inc. Invests $328,000 in Kodiak Gas Services, Inc. (NYSE:KGS)

B. Riley Wealth Advisors Inc. acquired a new position in shares of Kodiak Gas Services, Inc. (NYSE:KGS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 12,050 shares of the company’s stock, valued at approximately $328,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KGS. Blackstone Inc. lifted its stake in Kodiak Gas Services by 1,358.3% during the first quarter. Blackstone Inc. now owns 644,231 shares of the company’s stock worth $17,613,000 after purchasing an additional 600,055 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Kodiak Gas Services during the first quarter valued at approximately $11,544,000. HITE Hedge Asset Management LLC grew its position in Kodiak Gas Services by 74.8% during the second quarter. HITE Hedge Asset Management LLC now owns 780,600 shares of the company’s stock valued at $21,279,000 after acquiring an additional 334,086 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Kodiak Gas Services by 63.2% in the 2nd quarter. American Century Companies Inc. now owns 575,371 shares of the company’s stock worth $15,685,000 after acquiring an additional 222,830 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Kodiak Gas Services by 20.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,279,636 shares of the company’s stock valued at $25,695,000 after purchasing an additional 215,570 shares in the last quarter. 24.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Stifel Nicolaus lifted their target price on shares of Kodiak Gas Services from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. 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 report on Monday. Royal Bank of Canada lifted their price target on Kodiak Gas Services from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Redburn Atlantic initiated coverage on Kodiak Gas Services in a research note on Thursday, September 19th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Bank of America initiated coverage on shares of Kodiak Gas Services in a research note on Wednesday, September 18th. They issued a “buy” rating and a $30.00 target price on the stock. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.73.

Kodiak Gas Services Stock Performance

Shares of KGS opened at $32.13 on Tuesday. The company has a 50-day simple moving average of $27.77 and a two-hundred day simple moving average of $27.42. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.05 and a quick ratio of 0.70. The firm has a market capitalization of $2.71 billion, a PE ratio of 36.51 and a beta of 0.89. Kodiak Gas Services, Inc. has a one year low of $16.72 and a one year high of $32.60.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings results on Monday, August 12th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.29). The firm had revenue of $309.65 million for the quarter, compared to the consensus estimate of $313.88 million. Kodiak Gas Services had a net margin of 5.23% and a return on equity of 7.20%. On average, analysts anticipate that Kodiak Gas Services, Inc. will post 1.15 EPS for the current fiscal year.

Kodiak Gas Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 12th were given a $0.41 dividend. The ex-dividend date of this dividend was Monday, August 12th. This is an increase from Kodiak Gas Services’s previous quarterly dividend of $0.38. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.10%. Kodiak Gas Services’s dividend payout ratio is currently 186.36%.

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.