Short Interest in Kodiak Gas Services, Inc. (NYSE:KGS) Expands By 28.9%

Kodiak Gas Services, Inc. (NYSE:KGS) was the recipient of a large growth in short interest in October. As of October 31st, there was short interest totalling 3,170,000 shares, a growth of 28.9% from the October 15th total of 2,460,000 shares. Based on an average daily trading volume, of 702,300 shares, the short-interest ratio is presently 4.5 days. Currently, 10.5% of the company’s shares are sold short.

Institutional Investors Weigh In On Kodiak Gas Services

Large investors have recently modified their holdings of the stock. Sei Investments Co. bought a new position in Kodiak Gas Services during the first quarter valued at $604,000. Quadrature Capital Ltd grew its stake in shares of Kodiak Gas Services by 3.4% during the 1st quarter. Quadrature Capital Ltd now owns 27,642 shares of the company’s stock worth $756,000 after acquiring an additional 906 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Kodiak Gas Services in the 1st quarter worth about $1,046,000. Blackstone Inc. raised its stake in Kodiak Gas Services by 1,358.3% in the 1st quarter. Blackstone Inc. now owns 644,231 shares of the company’s stock valued at $17,613,000 after acquiring an additional 600,055 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in Kodiak Gas Services during the first quarter worth about $11,544,000. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Kodiak Gas Services Trading Up 1.8 %

NYSE KGS opened at $36.44 on Friday. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 125.66 and a beta of 0.79. The business’s fifty day moving average is $30.97 and its 200-day moving average is $28.50. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.27 and a quick ratio of 0.93. Kodiak Gas Services has a one year low of $17.50 and a one year high of $36.99.

Kodiak Gas Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date was Friday, November 1st. Kodiak Gas Services’s payout ratio is 565.54%.

Analyst Ratings Changes

A number of research analysts recently issued reports on KGS shares. Raymond James boosted their target price on shares of Kodiak Gas Services from $35.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Royal Bank of Canada upped their target price on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Stifel Nicolaus boosted their price objective on Kodiak Gas Services from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Bank of America initiated coverage on Kodiak Gas Services in a research report on Wednesday, September 18th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Truist Financial increased their price target on Kodiak Gas Services from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.64.

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.