Kodiak Gas Services, Inc. (NYSE:KGS) Receives Average Rating of “Moderate Buy” from Brokerages

Kodiak Gas Services, Inc. (NYSE:KGS) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $31.57.

Several analysts recently weighed in on the company. Truist Financial lifted their price target on Kodiak Gas Services from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Barclays began coverage on shares of Kodiak Gas Services in a report on Wednesday, July 17th. They issued an “equal weight” rating and a $29.00 target price on the stock. Royal Bank of Canada lifted their price target on Kodiak Gas Services from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Finally, Stifel Nicolaus increased their target price on shares of Kodiak Gas Services from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th.

Kodiak Gas Services Stock Up 0.8 %

Kodiak Gas Services stock opened at $27.42 on Tuesday. The company’s 50-day moving average price is $27.27 and its two-hundred day moving average price is $26.84. The company has a quick ratio of 0.76, a current ratio of 1.11 and a debt-to-equity ratio of 1.60. The stock has a market cap of $2.31 billion, a P/E ratio of 31.16 and a beta of 0.92. Kodiak Gas Services has a twelve month low of $16.72 and a twelve month high of $29.75.

Kodiak Gas Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 12th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date of this dividend was Monday, August 12th. This is a positive change from Kodiak Gas Services’s previous quarterly dividend of $0.38. Kodiak Gas Services’s payout ratio is 186.36%.

Hedge Funds Weigh In On Kodiak Gas Services

A number of hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its position in shares of Kodiak Gas Services by 20.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,279,636 shares of the company’s stock valued at $25,695,000 after acquiring an additional 215,570 shares during the period. HITE Hedge Asset Management LLC increased its position in shares of 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 worth $21,279,000 after acquiring an additional 334,086 shares in the last quarter. Blackstone Inc. raised its stake in shares of Kodiak Gas Services by 1,358.3% in 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. American Century Companies Inc. raised its position in Kodiak Gas Services by 63.2% in the 2nd quarter. American Century Companies Inc. now owns 575,371 shares of the company’s stock valued at $15,685,000 after buying an additional 222,830 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Kodiak Gas Services by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 542,281 shares of the company’s stock valued at $14,783,000 after purchasing an additional 7,640 shares during the last quarter. Institutional investors own 24.95% of the company’s stock.

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.