Kodiak Gas Services (NYSE:KGS) Hits New 1-Year High on Analyst Upgrade

Kodiak Gas Services, Inc. (NYSE:KGS)’s share price reached a new 52-week high during mid-day trading on Tuesday after Royal Bank of Canada raised their price target on the stock from $35.00 to $40.00. Royal Bank of Canada currently has an outperform rating on the stock. Kodiak Gas Services traded as high as $36.63 and last traded at $36.27, with a volume of 11624 shares trading hands. The stock had previously closed at $36.30.

KGS has been the topic of a number of other research reports. Citigroup started coverage on shares of Kodiak Gas Services in a report on Friday, September 27th. They set a “buy” rating and a $35.00 price target on the stock. Truist Financial lifted their target price on Kodiak Gas Services from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Bank of America began coverage on shares of Kodiak Gas Services in a report on Wednesday, September 18th. They issued a “buy” rating and a $30.00 price target for the company. Barclays increased their price target on Kodiak Gas Services from $29.00 to $32.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Redburn Atlantic started coverage on shares of Kodiak Gas Services in a research note on Thursday, September 19th. They set a “buy” rating and a $35.00 price target for the company. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.64.

Hedge Funds Weigh In On Kodiak Gas Services

A number of institutional investors have recently made changes to their positions in KGS. Security National Bank purchased a new stake in Kodiak Gas Services in the second quarter worth $39,000. HWG Holdings LP bought a new stake in shares of Kodiak Gas Services in the 2nd quarter worth approximately $40,000. nVerses Capital LLC boosted its position in shares of Kodiak Gas Services by 90.9% in the 2nd quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock worth $57,000 after purchasing an additional 1,000 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Kodiak Gas Services in the 3rd quarter worth about $125,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Kodiak Gas Services by 115.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,691 shares of the company’s stock valued at $155,000 after acquiring an additional 3,045 shares during the last quarter. Institutional investors own 24.95% of the company’s stock.

Kodiak Gas Services Trading Down 0.4 %

The company has a market cap of $3.06 billion, a P/E ratio of 124.73 and a beta of 0.79. 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 stock’s 50-day moving average is $30.40 and its two-hundred day moving average is $28.32.

Kodiak Gas Services (NYSE:KGS) last released its quarterly 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). Kodiak Gas Services had a net margin of 2.23% and a return on equity of 8.14%. The company had revenue of $309.65 million for the quarter, compared to the consensus estimate of $313.88 million. As a group, equities research analysts predict that Kodiak Gas Services, Inc. will post 1.15 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were paid a $0.41 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.64 annualized dividend and a yield of 4.53%. Kodiak Gas Services’s payout ratio is 565.54%.

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.