Kodiak Gas Services, Inc. (NYSE:KGS) Short Interest Update

Kodiak Gas Services, Inc. (NYSE:KGS) was the recipient of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 3,170,000 shares, an increase 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 days-to-cover ratio is currently 4.5 days. Currently, 10.5% of the company’s shares are sold short.

Hedge Funds Weigh In On Kodiak Gas Services

Institutional investors and hedge funds have recently bought and sold shares of the business. Sei Investments Co. purchased a new stake in shares of Kodiak Gas Services in the first quarter valued at approximately $604,000. Quadrature Capital Ltd raised its stake in Kodiak Gas Services by 3.4% during the first quarter. Quadrature Capital Ltd now owns 27,642 shares of the company’s stock worth $756,000 after purchasing an additional 906 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Kodiak Gas Services in the 1st quarter valued at about $1,046,000. Blackstone Inc. grew its stake 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 buying an additional 600,055 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Kodiak Gas Services during the 1st quarter worth approximately $11,544,000. 24.95% of the stock is currently owned by institutional investors and hedge funds.

Kodiak Gas Services Stock Performance

Shares of NYSE:KGS traded up $0.21 during midday trading on Friday, reaching $36.01. The company’s stock had a trading volume of 1,171,262 shares, compared to its average volume of 524,501. Kodiak Gas Services has a twelve month low of $17.50 and a twelve month high of $36.99. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $3.15 billion, a PE ratio of 123.35 and a beta of 0.79. The stock has a fifty day moving average of $30.78 and a 200 day moving average of $28.43.

Kodiak Gas Services (NYSE:KGS) last posted 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). Kodiak Gas Services had a return on equity of 7.91% and a net margin of 2.23%. The firm had revenue of $309.65 million for the quarter, compared to analysts’ expectations of $313.88 million. On average, equities analysts expect that Kodiak Gas Services will post 1.21 EPS for the current fiscal year.

Kodiak Gas Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were issued a $0.41 dividend. 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 4.55%. Kodiak Gas Services’s payout ratio is currently 565.54%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Mizuho assumed coverage on shares of Kodiak Gas Services in a report on Wednesday, October 2nd. They set an “outperform” rating and a $36.00 price objective for the company. Stifel Nicolaus boosted 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. Redburn Atlantic initiated coverage on Kodiak Gas Services in a research report on Thursday, September 19th. They set a “buy” rating and a $35.00 target price 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 research report on Monday, October 7th. Finally, Raymond James lifted their price objective on Kodiak Gas Services from $35.00 to $39.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.64.

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.