Kodiak Gas Services (NYSE:KGS) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Kodiak Gas Services (NYSE:KGS) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. Mizuho increased their target price on shares of Kodiak Gas Services from $36.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kodiak Gas Services in a research report on Monday, December 29th. Royal Bank Of Canada boosted their target price on shares of Kodiak Gas Services from $45.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, March 19th. Wall Street Zen raised shares of Kodiak Gas Services from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Citigroup boosted their target price on shares of Kodiak Gas Services from $53.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Seven investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.57.

Kodiak Gas Services Stock Up 0.3%

KGS stock opened at $60.43 on Tuesday. Kodiak Gas Services has a 12-month low of $30.06 and a 12-month high of $61.48. The company has a quick ratio of 0.57, a current ratio of 0.84 and a debt-to-equity ratio of 2.12. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 69.46 and a beta of 0.96. The company has a 50 day moving average of $53.99 and a two-hundred day moving average of $42.26.

Kodiak Gas Services (NYSE:KGS) last released its 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). Kodiak Gas Services had a return on equity of 11.55% and a net margin of 6.16%.The company had revenue of $332.87 million during the quarter, compared to analysts’ expectations of $330.95 million. During the same quarter in the previous year, the company earned $0.21 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities analysts anticipate that Kodiak Gas Services will post 1.12 earnings per share for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 13th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, February 13th. Kodiak Gas Services’s payout ratio is currently 225.29%.

Insider Buying and Selling

In other Kodiak Gas Services news, insider Pedro R. Buhigas sold 13,942 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $55.73, for a total value of $776,987.66. Following the completion of the sale, the insider directly owned 42,723 shares of the company’s stock, valued at $2,380,952.79. The trade was a 24.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Ewan William Hamilton sold 5,797 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $56.18, for a total transaction of $325,675.46. Following the completion of the sale, the chief accounting officer directly owned 34,346 shares of the company’s stock, valued at $1,929,558.28. This represents a 14.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders purchased 11,433 shares of company stock valued at $624,360 and sold 58,673 shares valued at $3,269,110. 0.64% of the stock is currently owned by insiders.

Institutional Trading of Kodiak Gas Services

Institutional investors and hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of Kodiak Gas Services by 492.8% in the third quarter. Principal Financial Group Inc. now owns 399,041 shares of the company’s stock worth $14,753,000 after buying an additional 331,732 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Kodiak Gas Services by 126.9% in the third quarter. Rhumbline Advisers now owns 179,160 shares of the company’s stock worth $6,624,000 after buying an additional 100,194 shares during the last quarter. Tyler Stone Wealth Management acquired a new stake in shares of Kodiak Gas Services in the second quarter worth $1,068,000. Public Sector Pension Investment Board acquired a new stake in shares of Kodiak Gas Services in the third quarter worth $9,491,000. Finally, Viking Fund Management LLC raised its stake in Kodiak Gas Services by 42.7% during the 3rd quarter. Viking Fund Management LLC now owns 127,000 shares of the company’s stock valued at $4,695,000 after purchasing an additional 38,000 shares during the last quarter. 24.95% of the stock is currently owned by institutional investors and hedge funds.

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.