Royal Bank of Canada Boosts Kodiak Gas Services (NYSE:KGS) Price Target to $30.00

Kodiak Gas Services (NYSE:KGS) had its price target upped by Royal Bank of Canada from $28.00 to $30.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group raised their price objective on shares of Kodiak Gas Services from $27.00 to $31.00 and gave the stock a buy rating in a report on Wednesday, April 10th. Raymond James raised their price target on Kodiak Gas Services from $30.00 to $32.00 and gave the company an outperform rating in a report on Tuesday, April 16th. Truist Financial increased their target price on Kodiak Gas Services from $28.00 to $32.00 and gave the stock a buy rating in a report on Friday, May 10th. Finally, JPMorgan Chase & Co. raised their target price on Kodiak Gas Services from $27.00 to $28.00 and gave the company a neutral rating in a research note on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $28.14.

Kodiak Gas Services Stock Down 1.5 %

NYSE:KGS opened at $26.97 on Monday. The company has a current ratio of 1.11, a quick ratio of 0.76 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $2.27 billion and a price-to-earnings ratio of 30.65. The business’s fifty day moving average price is $27.39 and its 200 day moving average price is $23.45. Kodiak Gas Services has a 1-year low of $15.05 and a 1-year high of $29.43.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $215.50 million for the quarter, compared to the consensus estimate of $220.55 million. Kodiak Gas Services had a return on equity of 7.33% and a net margin of 7.15%. The firm’s revenue was up 13.4% compared to the same quarter last year. On average, sell-side analysts forecast that Kodiak Gas Services will post 1.83 earnings per share for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 5.64%. The ex-dividend date of this dividend was Friday, May 10th. Kodiak Gas Services’s dividend payout ratio (DPR) is presently 172.73%.

Insider Activity

In other news, Director Margaret C. Montana acquired 2,000 shares of the stock in a transaction dated Tuesday, March 12th. The stock was bought at an average price of $25.25 per share, with a total value of $50,500.00. Following the completion of the purchase, the director now directly owns 16,375 shares of the company’s stock, valued at approximately $413,468.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kodiak Gas Services

Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in Kodiak Gas Services by 20.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,279,636 shares of the company’s stock worth $25,695,000 after purchasing an additional 215,570 shares during the period. Invesco Ltd. grew its stake in shares of Kodiak Gas Services by 1.0% in the 3rd quarter. Invesco Ltd. now owns 1,009,550 shares of the company’s stock valued at $18,051,000 after buying an additional 9,550 shares during the period. Vanguard Group Inc. increased its position in Kodiak Gas Services by 504.9% in the 3rd quarter. Vanguard Group Inc. now owns 967,799 shares of the company’s stock valued at $17,304,000 after buying an additional 807,799 shares in the last quarter. Blackstone Inc. raised its stake in Kodiak Gas Services by 1,358.3% during the 1st quarter. Blackstone Inc. now owns 644,231 shares of the company’s stock worth $17,613,000 after buying an additional 600,055 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Kodiak Gas Services by 48.3% in the fourth quarter. Russell Investments Group Ltd. now owns 452,710 shares of the company’s stock worth $9,090,000 after acquiring an additional 147,455 shares in the last quarter. 24.95% of the stock is currently owned by institutional investors and hedge funds.

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.