Kodiak Gas Services (NYSE:KGS) Price Target Raised to $64.00 at Royal Bank Of Canada

Kodiak Gas Services (NYSE:KGS) had its price objective increased by Royal Bank Of Canada from $45.00 to $64.00 in a research note published on Thursday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other analysts have also recently weighed in on the stock. Citigroup raised their target price on shares of Kodiak Gas Services from $53.00 to $63.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Wall Street Zen upgraded shares of Kodiak Gas Services from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Kodiak Gas Services in a research report on Monday, December 29th. The Goldman Sachs Group raised their price objective on shares of Kodiak Gas Services from $46.00 to $60.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Finally, Barclays lifted their price objective on shares of Kodiak Gas Services from $49.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Kodiak Gas Services currently has an average rating of “Moderate Buy” and an average price target of $54.57.

Kodiak Gas Services Trading Up 3.4%

KGS opened at $57.42 on Thursday. The business has a fifty day moving average price of $48.02 and a 200 day moving average price of $39.72. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.84 and a quick ratio of 0.57. Kodiak Gas Services has a 12 month low of $29.25 and a 12 month high of $58.50. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 66.00 and a beta of 1.11.

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 analysts’ consensus estimates of $0.53 by ($0.13). The company had revenue of $332.87 million during the quarter, compared to analyst estimates of $330.95 million. Kodiak Gas Services had a net margin of 6.16% and a return on equity of 11.55%. Kodiak Gas Services’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.21 EPS. Sell-side analysts expect that Kodiak Gas Services will post 1.12 earnings per share for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 13th were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.96 dividend on an annualized basis and a yield of 3.4%. Kodiak Gas Services’s dividend payout ratio (DPR) is presently 225.29%.

Insider Activity at Kodiak Gas Services

In related news, Director Alexander Newsom Darden bought 5,000 shares of the stock in a transaction dated Friday, March 13th. The stock was acquired at an average price of $54.75 per share, for a total transaction of $273,750.00. Following the acquisition, the director owned 5,000 shares in the company, valued at approximately $273,750. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Cory Anne Roclawski sold 10,852 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $54.41, for a total transaction of $590,457.32. Following the completion of the transaction, the executive vice president directly owned 31,405 shares in the company, valued at $1,708,746.05. This trade represents a 25.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have acquired 11,433 shares of company stock worth $624,360 and have sold 44,731 shares worth $2,492,123. 0.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kodiak Gas Services

Several hedge funds have recently made changes to their positions in the company. Allworth Financial LP lifted its holdings 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 valued at $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% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,062 shares of the company’s stock worth $40,000 after buying an additional 364 shares during the last quarter. State of Wyoming grew its stake in Kodiak Gas Services by 201.7% during the 4th quarter. State of Wyoming now owns 1,219 shares of the company’s stock worth $46,000 after buying an additional 815 shares during the last quarter. EverSource Wealth Advisors LLC increased its position 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 worth $42,000 after buying an additional 1,156 shares during the period. Finally, GAMMA Investing LLC increased its position in Kodiak Gas Services by 80.3% during the fourth 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 period. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Kodiak Gas Services Company Profile

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.