Kodiak Gas Services (NYSE:KGS) Sets New 1-Year High at $29.76

Kodiak Gas Services, Inc. (NYSE:KGS) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $29.76 and last traded at $29.39, with a volume of 105583 shares changing hands. The stock had previously closed at $28.67.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on KGS shares. Barclays initiated 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 for the company. Truist Financial upped their price objective on shares of Kodiak Gas Services from $32.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Royal Bank of Canada upped their price objective on shares of Kodiak Gas Services from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Redburn Atlantic began coverage on shares of Kodiak Gas Services in a report on Thursday. They set a “buy” rating and a $35.00 price objective on the stock. Finally, Stifel Nicolaus upped their target price on Kodiak Gas Services from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Kodiak Gas Services currently has an average rating of “Moderate Buy” and a consensus target price of $31.78.

Kodiak Gas Services Stock Performance

The stock has a 50-day moving average price of $27.29 and a 200 day moving average price of $27.08. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 32.58 and a beta of 0.90. The company has a quick ratio of 0.70, a current ratio of 1.05 and a debt-to-equity ratio of 1.70.

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

Kodiak Gas Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 12th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 5.53%. The ex-dividend date was Monday, August 12th. This is a boost from Kodiak Gas Services’s previous quarterly dividend of $0.38. Kodiak Gas Services’s dividend payout ratio is 186.36%.

Institutional Investors Weigh In On Kodiak Gas Services

Large investors have recently modified their holdings of the stock. Security National Bank purchased a new stake in shares of Kodiak Gas Services in the second quarter valued at $39,000. HWG Holdings LP purchased a new stake in shares of Kodiak Gas Services in the second quarter valued at $40,000. PNC Financial Services Group Inc. purchased a new stake in shares of Kodiak Gas Services in the fourth quarter valued at $46,000. nVerses Capital LLC lifted its position in shares of Kodiak Gas Services by 90.9% in the second quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock valued at $57,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Parallel Advisors LLC purchased a new stake in shares of Kodiak Gas Services in the fourth quarter valued at $60,000. Hedge funds and other institutional investors own 24.95% of the company’s stock.

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.