Wells Fargo & Company Issues Pessimistic Forecast for Kodiak Gas Services (NYSE:KGS) Stock Price

Kodiak Gas Services (NYSE:KGS) had its price objective reduced by stock analysts at Wells Fargo & Company from $93.00 to $66.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 47.90% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on KGS. Barclays cut their price objective on Kodiak Gas Services from $72.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, October 5th. Jefferies Financial Group cut their target price on Kodiak Gas Services from $53.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, November 10th. UBS Group reiterated a “buy” rating on shares of Kodiak Gas Services in a research report on Friday, October 16th. Piper Sandler began coverage on shares of Kodiak Gas Services in a research note on Tuesday, July 28th. They set an “overweight” rating and a $78.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kodiak Gas Services in a research note on Wednesday, August 26th. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Kodiak Gas Services has an average rating of “Moderate Buy” and an average target price of $73.67.

Kodiak Gas Services Stock Performance

Shares of KGS stock traded up $0.23 on Friday, hitting $44.63. 2,155,222 shares of the stock were exchanged, compared to its average volume of 2,249,255. The company has a current ratio of 1.31, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $4.52 billion, a PE ratio of 26.10, a P/E/G ratio of 0.72 and a beta of 1.07. Kodiak Gas Services has a one year low of $32.55 and a one year high of $77.68. The firm’s 50 day moving average is $51.26 and its two-hundred day moving average is $59.18.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly earnings data on Monday, November 9th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. The business had revenue of $401.79 million for the quarter, compared to analysts’ expectations of $387.50 million. Kodiak Gas Services had a return on equity of 12.62% and a net margin of 11.28%. The firm’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 EPS. Sell-side analysts expect that Kodiak Gas Services will post 2.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Kodiak Gas Services

In other news, COO William Lenamon sold 1,000 shares of the stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $53.25, for a total transaction of $53,250.00. Following the completion of the sale, the chief operating officer owned 84,294 shares of the company’s stock, valued at approximately $4,488,655.50. This represents a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Pedro R. Buhigas sold 3,663 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $58.14, for a total value of $212,966.82. Following the sale, the insider directly owned 32,413 shares of the company’s stock, valued at approximately $1,884,491.82. This trade represents a 10.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders purchased 12,145 shares of company stock worth $544,116 and sold 24,002 shares worth $1,369,534. 0.64% of the stock is owned by insiders.

Institutional Investors Weigh In On Kodiak Gas Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KGS. Advisors Preferred LLC bought a new position in Kodiak Gas Services in the second quarter worth $1,986,000. Hsbc Holdings PLC bought a new stake in shares of Kodiak Gas Services during the 2nd quarter valued at $2,486,000. Crown Advisors Management Inc. bought a new stake in shares of Kodiak Gas Services during the 2nd quarter valued at $4,508,000. Copeland Capital Management LLC boosted its holdings in shares of Kodiak Gas Services by 39.2% during the 3rd quarter. Copeland Capital Management LLC now owns 662,857 shares of the company’s stock valued at $35,112,000 after buying an additional 186,822 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Kodiak Gas Services by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,105,555 shares of the company’s stock worth $181,108,000 after buying an additional 135,998 shares during the period. 24.95% of the stock is currently owned by institutional investors.

Trending Headlines about Kodiak Gas Services

Here are a few of the latest headlines about KGS:

• Positive Sentiment: Wells Fargo lowered its price target to $66 from $93 but kept an Overweight rating; Citigroup cut its target to $75 from $82 while retaining Buy. Both targets remain above the cited share price. Wells Fargo rating Citigroup rating
• Positive Sentiment: Kodiak raised its quarterly dividend to $0.51 from $0.49, a potential positive for income-focused investors. Company news and filings
• Negative Sentiment: COO William Lenamon sold 1,000 shares for $44,200, a 1.19% reduction in his holdings. The sale was modest relative to his remaining position. Lenamon SEC filing

Kodiak Gas Services Company Profile

Kodiak Gas Services provides contract natural gas compression services to energy companies in the United States. Its equipment helps move natural gas from production sites through gathering and processing systems and into pipelines. The company supplies, installs, operates and maintains compression equipment, including large-horsepower compressor units. Its services support natural gas production and transportation across major U.S. oil and gas regions. Based in The Woodlands, Texas, Kodiak became a publicly traded company in 2023.