Kodiak Gas Services (NYSE:KGS) Sets New 1-Year High Following Analyst Upgrade

Kodiak Gas Services, Inc. (NYSE:KGS)’s share price hit a new 52-week high on Tuesday after Citigroup raised their price target on the stock from $53.00 to $63.00. Citigroup currently has a buy rating on the stock. Kodiak Gas Services traded as high as $57.90 and last traded at $56.79, with a volume of 2020429 shares changing hands. The stock had previously closed at $54.57.

KGS has been the subject of a number of other research reports. Wall Street Zen upgraded Kodiak Gas Services from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Zacks Research cut shares of Kodiak Gas Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Royal Bank Of Canada increased their price objective on shares of Kodiak Gas Services from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 18th. William Blair began coverage on shares of Kodiak Gas Services in a report on Tuesday, November 18th. They set an “outperform” rating on the stock. Finally, Stifel Nicolaus set a $48.00 price target on Kodiak Gas Services in a report on Thursday, November 6th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.88.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP increased its position in shares of Kodiak Gas Services by 1,850.0% in the 2nd quarter. Allworth Financial LP now owns 741 shares of the company’s stock worth $25,000 after purchasing an additional 703 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Kodiak Gas Services by 52.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,062 shares of the company’s stock worth $40,000 after purchasing an additional 364 shares in the last quarter. State of Wyoming increased its holdings in Kodiak Gas Services by 201.7% in the fourth quarter. State of Wyoming now owns 1,219 shares of the company’s stock valued at $46,000 after buying an additional 815 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Kodiak Gas Services by 1,501.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company’s stock valued at $42,000 after buying an additional 1,156 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Kodiak Gas Services by 80.3% during the 4th quarter. GAMMA Investing LLC now owns 1,248 shares of the company’s stock worth $47,000 after buying an additional 556 shares during the last quarter. 24.95% of the stock is owned by institutional investors and hedge funds.

Kodiak Gas Services Trading Up 0.9%

The company has a market cap of $5.00 billion, a P/E ratio of 66.87 and a beta of 1.11. The business has a fifty day simple moving average of $43.84 and a 200 day simple moving average of $38.20. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.57 and a current ratio of 0.84.

Kodiak Gas Services (NYSE:KGS) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.13). Kodiak Gas Services had a net margin of 6.16% and a return on equity of 11.55%. The firm had revenue of $332.87 million for the quarter, compared to analyst estimates of $330.95 million. During the same period in the prior year, the company posted $0.21 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. Analysts anticipate that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 13th were issued a $0.49 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.96 annualized dividend and a dividend yield of 3.4%. Kodiak Gas Services’s payout ratio is 225.29%.

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. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings.