Kodiak Gas Services (NYSE:KGS) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

Kodiak Gas Services (NYSE:KGS) had its price objective decreased by JPMorgan Chase & Co. from $79.00 to $78.00 in a report released on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other research analysts have also recently weighed in on the company. Piper Sandler started coverage on Kodiak Gas Services in a research report on Tuesday, July 28th. They set an “overweight” rating and a $78.00 price objective for the company. Stifel Nicolaus lifted their target price on Kodiak Gas Services from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Barclays cut their target price on Kodiak Gas Services from $72.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday, October 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kodiak Gas Services in a research report on Wednesday, August 26th. Finally, Jefferies Financial Group decreased their price target on shares of Kodiak Gas Services from $69.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.50.

Kodiak Gas Services Trading Down 0.0%

KGS opened at $53.55 on Thursday. The stock has a market capitalization of $5.43 billion, a P/E ratio of 63.75 and a beta of 1.01. The company has a current ratio of 1.45, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28. Kodiak Gas Services has a 12 month low of $32.55 and a 12 month high of $77.68. The firm’s fifty day simple moving average is $58.60 and its 200 day simple moving average is $63.70.

Kodiak Gas Services (NYSE:KGS) last released its earnings results on Thursday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.12). Kodiak Gas Services had a return on equity of 11.92% and a net margin of 5.77%. The firm had revenue of $391.12 million for the quarter, compared to the consensus estimate of $386.30 million. During the same quarter last year, the company posted $0.43 EPS. Kodiak Gas Services’s revenue for the quarter was up 21.2% on a year-over-year basis. As a group, research analysts anticipate that Kodiak Gas Services will post 2.46 EPS for the current fiscal year.

Kodiak Gas Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Monday, August 17th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.7%. The ex-dividend date was Monday, August 17th. Kodiak Gas Services’s dividend payout ratio is presently 233.33%.

Insider Buying and Selling

In other Kodiak Gas Services news, insider Pedro R. Buhigas sold 3,663 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $58.14, for a total transaction of $212,966.82. Following the transaction, the insider owned 32,413 shares of the company’s stock, valued at $1,884,491.82. The trade was a 10.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert McKee sold 2,666 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $53.95, for a total value of $143,830.70. Following the transaction, the chief executive officer directly owned 289,924 shares in the company, valued at $15,641,399.80. This trade represents a 0.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 20,336 shares of company stock worth $1,218,437. Corporate insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Kodiak Gas Services

Large investors have recently made changes to their positions in the stock. Chickasaw Capital Management LLC raised its stake in Kodiak Gas Services by 318.7% in the 3rd quarter. Chickasaw Capital Management LLC now owns 1,017,357 shares of the company’s stock valued at $53,889,000 after acquiring an additional 774,357 shares during the period. Core Capital Management & Research inc. bought a new position in Kodiak Gas Services during the second quarter worth $64,000. Engineers Gate Manager LP bought a new position in Kodiak Gas Services during the second quarter worth $424,000. Squarepoint Ops LLC increased its holdings in shares of Kodiak Gas Services by 5,472.9% in the second quarter. Squarepoint Ops LLC now owns 589,510 shares of the company’s stock valued at $44,290,000 after purchasing an additional 600,482 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Kodiak Gas Services by 13.6% in the second quarter. Arizona State Retirement System now owns 26,724 shares of the company’s stock valued at $2,008,000 after purchasing an additional 3,189 shares during the last quarter. Institutional investors and hedge funds own 24.95% of the company’s stock.

About Kodiak Gas Services

Kodiak Gas Services, Inc (NYSE:KGS) provides contract natural gas compression services in the United States. The company helps oil and gas producers and midstream operators move natural gas through gathering systems, processing facilities, pipelines and other infrastructure by supplying and operating compression equipment.

Its services include the design, installation, commissioning, operation, maintenance and relocation of natural gas compression systems. Kodiak owns and manages a fleet of compressors that can be deployed for a range of applications, including gathering, processing, storage and transmission.