Kodiak Gas Services (NYSE:KGS) Hits New 52-Week High After Analyst Upgrade

Shares of Kodiak Gas Services, Inc. (NYSE:KGS) reached a new 52-week high during 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 traded. The stock had previously closed at $36.30.

KGS has been the subject of a number of other research reports. Truist Financial increased their price target on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday. Citigroup assumed coverage on shares of Kodiak Gas Services in a report on Friday, September 27th. They set a “buy” rating and a $35.00 target price for the company. Raymond James raised their target price on shares of Kodiak Gas Services from $35.00 to $39.00 and gave the company an “outperform” rating in a report on Friday. Mizuho began coverage on shares of Kodiak Gas Services in a report on Wednesday, October 2nd. They set an “outperform” rating and a $36.00 target price for the company. Finally, Bank of America began coverage on shares of Kodiak Gas Services in a report on Wednesday, September 18th. They set a “buy” rating and a $30.00 price target for the company. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.64.

Institutional Trading of Kodiak Gas Services

Hedge funds and other institutional investors have recently made changes to their positions in the stock. HITE Hedge Asset Management LLC boosted its holdings 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 valued at $21,279,000 after acquiring an additional 334,086 shares during the period. Blackstone Inc. increased its holdings in shares of 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 purchasing an additional 600,055 shares during the period. American Century Companies Inc. increased its holdings in shares of 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 purchasing an additional 222,830 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Kodiak Gas Services by 1.4% in the 2nd 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 period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Kodiak Gas Services in the 1st quarter valued at about $11,544,000. Institutional investors own 24.95% of the company’s stock.

Kodiak Gas Services Stock Up 0.2 %

The business has a fifty day moving average of $30.19 and a 200 day moving average of $28.27. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 125.14 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.

Kodiak Gas Services (NYSE:KGS) last announced its quarterly earnings results on Monday, August 12th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.29). The company had revenue of $309.65 million for the quarter, compared to analyst estimates of $313.88 million. Kodiak Gas Services had a net margin of 2.23% and a return on equity of 8.14%. On average, equities analysts predict that Kodiak Gas Services, Inc. will post 1.15 earnings per share for the current 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 dividend of $0.41 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.51%. Kodiak Gas Services’s dividend payout ratio is currently 565.54%.

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.