Kodiak Gas Services (NYSE:KGS) Sets New 12-Month High Following Analyst Upgrade

Kodiak Gas Services, Inc. (NYSE:KGS)’s stock price reached a new 52-week high during mid-day trading on Tuesday after Royal Bank of Canada raised their price target on the stock from $35.00 to $40.00. Royal Bank of Canada currently has an outperform rating on the stock. Kodiak Gas Services traded as high as $36.63 and last traded at $36.27, with a volume of 11624 shares trading hands. The stock had previously closed at $36.30.

A number of other research analysts also recently commented on KGS. Bank of America began coverage on shares of Kodiak Gas Services in a research note on Wednesday, September 18th. They set a “buy” rating and a $30.00 price objective for the company. Citigroup began coverage on Kodiak Gas Services in a research note on Friday, September 27th. They set a “buy” rating and a $35.00 price objective on the stock. Redburn Atlantic assumed coverage on shares of Kodiak Gas Services in a research note on Thursday, September 19th. They set a “buy” rating and a $35.00 price objective on the stock. Raymond James raised their target price on Kodiak Gas Services from $35.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Mizuho started coverage on shares of Kodiak Gas Services in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $36.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.64.

Institutional Trading of Kodiak Gas Services

Large investors have recently modified their holdings of the company. Sei Investments Co. acquired a new stake in Kodiak Gas Services during the first quarter worth $604,000. Quadrature Capital Ltd grew its holdings in Kodiak Gas Services by 3.4% during the first quarter. Quadrature Capital Ltd now owns 27,642 shares of the company’s stock valued at $756,000 after purchasing an additional 906 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Kodiak Gas Services in the 1st quarter valued at $1,046,000. Blackstone Inc. increased its holdings in shares of Kodiak Gas Services by 1,358.3% in the first quarter. Blackstone Inc. now owns 644,231 shares of the company’s stock worth $17,613,000 after acquiring an additional 600,055 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in Kodiak Gas Services in the first quarter valued at approximately $11,544,000. 24.95% of the stock is owned by institutional investors.

Kodiak Gas Services Price Performance

The company has a 50 day simple moving average of $30.40 and a 200-day simple moving average of $28.32. The company has a current ratio of 1.05, a quick ratio of 0.70 and a debt-to-equity ratio of 1.70. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 124.73 and a beta of 0.79.

Kodiak Gas Services (NYSE:KGS) last issued its earnings results on Monday, August 12th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). The firm had revenue of $309.65 million during the quarter, compared to the consensus estimate of $313.88 million. Kodiak Gas Services had a net margin of 2.23% and a return on equity of 8.14%. Research analysts expect that Kodiak Gas Services, Inc. will post 1.15 EPS for the current year.

Kodiak Gas Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, November 1st were given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend was Friday, November 1st. Kodiak Gas Services’s payout ratio is 565.54%.

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.