Short Interest in Kodiak Gas Services, Inc. (NYSE:KGS) Increases By 6.1%

Kodiak Gas Services, Inc. (NYSE:KGS) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 3,290,000 shares, a growth of 6.1% from the August 15th total of 3,100,000 shares. Based on an average daily volume of 609,300 shares, the short-interest ratio is currently 5.4 days. Approximately 15.0% of the company’s stock are short sold.

Institutional Investors Weigh In On Kodiak Gas Services

Large investors have recently bought and sold shares of the company. Swiss National Bank acquired a new stake in Kodiak Gas Services during the 4th quarter valued at approximately $920,000. TSA Wealth Managment LLC acquired a new position in Kodiak Gas Services during the fourth quarter valued at $624,000. Parallel Advisors LLC acquired a new position in Kodiak Gas Services during the fourth quarter valued at $60,000. Tortoise Index Solutions LLC boosted its holdings in Kodiak Gas Services by 12.9% in the fourth quarter. Tortoise Index Solutions LLC now owns 21,488 shares of the company’s stock valued at $431,000 after purchasing an additional 2,448 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in 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 worth $25,695,000 after purchasing an additional 215,570 shares during the period. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on KGS shares. Bank of America assumed coverage on shares of Kodiak Gas Services in a research report on Wednesday. They issued a “buy” rating and a $30.00 price target for the company. Barclays started coverage on Kodiak Gas Services in a report on Wednesday, July 17th. They set an “equal weight” rating and a $29.00 target price for the company. Stifel Nicolaus lifted their price target on Kodiak Gas Services from $31.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Royal Bank of Canada boosted their price target on Kodiak Gas Services from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Finally, Truist Financial raised their price objective on Kodiak Gas Services from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Kodiak Gas Services currently has a consensus rating of “Moderate Buy” and an average price target of $31.38.

Kodiak Gas Services Stock Performance

Kodiak Gas Services stock traded up $0.76 during mid-day trading on Wednesday, reaching $28.67. 1,035,046 shares of the company traded hands, compared to its average volume of 499,464. The firm’s fifty day moving average is $27.26 and its two-hundred day moving average is $27.07. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 31.70 and a beta of 0.90. Kodiak Gas Services has a fifty-two week low of $16.72 and a fifty-two week high of $29.75. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.05 and a quick ratio of 0.70.

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

Kodiak Gas Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 12th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 5.72%. This is a boost from Kodiak Gas Services’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Monday, August 12th. Kodiak Gas Services’s dividend payout ratio (DPR) is presently 186.36%.

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.