Kodiak Gas Services (NYSE:KGS) Price Target Raised to $60.00

Kodiak Gas Services (NYSE:KGS) had its target price increased by Barclays from $49.00 to $60.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently commented on the company. Citigroup lifted their target price on Kodiak Gas Services from $53.00 to $63.00 and gave the stock a “buy” rating in a research note 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 reaffirmed a “hold (c)” rating on shares of Kodiak Gas Services in a research report on Monday, December 29th. Zacks Research cut shares of Kodiak Gas Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, The Goldman Sachs Group increased their target price on shares of Kodiak Gas Services from $46.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.25.

Kodiak Gas Services Stock Performance

Shares of KGS opened at $55.33 on Thursday. The stock has a 50 day moving average of $44.61 and a 200 day moving average of $38.48. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 63.60 and a beta of 1.11. Kodiak Gas Services has a 12 month low of $29.25 and a 12 month high of $58.50. The company has a current ratio of 0.84, a quick ratio of 0.57 and a debt-to-equity ratio of 2.12.

Kodiak Gas Services (NYSE:KGS) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.13). The business had revenue of $332.87 million during the quarter, compared to analysts’ expectations of $330.95 million. Kodiak Gas Services had a return on equity of 11.55% and a net margin of 6.16%.The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 EPS. As a group, sell-side analysts forecast that Kodiak Gas Services will post 1.12 earnings per share for the current 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 given 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 3.5%. Kodiak Gas Services’s payout ratio is 225.29%.

Institutional Trading of Kodiak Gas Services

A number of institutional investors have recently modified their holdings of KGS. Principal Financial Group Inc. grew its position in shares of Kodiak Gas Services by 492.8% during the 3rd quarter. Principal Financial Group Inc. now owns 399,041 shares of the company’s stock valued at $14,753,000 after purchasing an additional 331,732 shares in the last quarter. Rhumbline Advisers raised its position 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 in the last quarter. Tyler Stone Wealth Management purchased a new stake in shares of Kodiak Gas Services in the second quarter worth $1,068,000. Walleye Capital LLC boosted its stake in Kodiak Gas Services by 385.9% during the second quarter. Walleye Capital LLC now owns 401,983 shares of the company’s stock valued at $13,776,000 after buying an additional 319,257 shares during the period. Finally, Viking Fund Management LLC boosted its stake in Kodiak Gas Services by 42.7% during the third quarter. Viking Fund Management LLC now owns 127,000 shares of the company’s stock valued at $4,695,000 after buying an additional 38,000 shares during the period. 24.95% of the stock is currently owned by hedge funds and other institutional investors.

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.