Kodiak Gas Services (NYSE:KGS) Stock Gets Downgrade from Zacks Research

Kodiak Gas Services (NYSE:KGS) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday, Zacks reports.

Several other equities analysts have also weighed in on KGS. Bank of America dropped their price objective on shares of Kodiak Gas Services from $83.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday. Royal Bank Of Canada reduced their target price on Kodiak Gas Services from $88.00 to $82.00 and set an “outperform” rating for the company in a research note on Friday, October 16th. Stifel Nicolaus raised their target price on Kodiak Gas Services from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kodiak Gas Services in a research report on Wednesday, August 26th. Finally, Citigroup dropped their price target on Kodiak Gas Services from $86.00 to $82.00 and set a “buy” rating on the stock in a research note on Friday, October 9th. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.18.

Kodiak Gas Services Stock Up 1.4%

Kodiak Gas Services stock opened at $48.10 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.45 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 moving average is $55.12 and its 200 day moving average is $58.84. The company has a market capitalization of $4.88 billion, a PE ratio of 57.26 and a beta of 1.01.

Kodiak Gas Services (NYSE:KGS) last issued its earnings results on Thursday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $391.12 million for the quarter, compared to the consensus estimate of $386.30 million. During the same period in the prior year, the company earned $0.43 earnings per share. The firm’s revenue was up 21.2% compared to the same quarter last year. As a group, sell-side analysts predict that Kodiak Gas Services will post 2.46 EPS for the current fiscal year.

Insider Buying and Selling at Kodiak Gas Services

In other Kodiak Gas Services news, insider Pedro Buhigas sold 3,663 shares of the company’s stock in a transaction on Wednesday, September 16th. The shares were 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 in the company, valued at approximately $1,884,491.82. This represents a 10.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert McKee sold 2,666 shares of the company’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $53.95, for a total transaction of $143,830.70. Following the transaction, the chief executive officer owned 289,924 shares in the company, valued at approximately $15,641,399.80. The trade was a 0.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 20,336 shares of company stock worth $1,203,897. 0.64% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kodiak Gas Services

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Kodiak Gas Services during the second quarter worth about $1,142,139,000. Wellington Management Group LLP grew its position in Kodiak Gas Services by 85.0% in the 2nd quarter. Wellington Management Group LLP now owns 2,432,174 shares of the company’s stock worth $182,729,000 after purchasing an additional 1,117,743 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in 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 valued at $181,108,000 after buying an additional 135,998 shares during the last quarter. Bank of America Corp DE purchased a new stake in Kodiak Gas Services in the 2nd quarter valued at about $109,850,000. Finally, Kayne Anderson Capital Advisors LP purchased a new stake in Kodiak Gas Services in the 2nd quarter valued at about $84,821,000. 24.95% of the stock is owned by institutional investors.

Kodiak Gas Services Company Profile

Kodiak Gas Services, Inc (NYSE: KGS) provides contract compression and related infrastructure services to the North American oil and gas industry. The company helps producers and midstream operators move natural gas through gathering systems, processing facilities and pipelines by supplying compression equipment and operating it under long-term service arrangements.

Its services include the design, installation, operation and maintenance of natural gas compression systems. Kodiak owns and manages a fleet of compression units that can be deployed across a range of applications, including natural gas gathering and processing.