Kodiak Gas Services (NYSE:KGS) Price Target Raised to $90.00

Kodiak Gas Services (NYSE:KGS) had its price objective hoisted by Stifel Nicolaus from $84.00 to $90.00 in a report issued on Tuesday morning, MarketBeat.com reports. They currently have a buy rating on the stock.

KGS has been the topic of a number of other reports. The Goldman Sachs Group upped their price objective on Kodiak Gas Services from $69.00 to $88.00 and gave the company a “buy” rating in a report on Friday, May 15th. Wells Fargo & Company initiated coverage on Kodiak Gas Services in a research report on Wednesday, May 27th. They issued an “overweight” rating and a $93.00 target price on the stock. Zacks Research raised Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Jefferies Financial Group initiated coverage on Kodiak Gas Services in a report on Thursday, June 4th. They set a “buy” rating and a $79.00 price target for the company. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Kodiak Gas Services in a research report on Friday, May 29th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Kodiak Gas Services presently has an average rating of “Moderate Buy” and an average price target of $79.50.

Kodiak Gas Services Trading Down 2.5%

Shares of KGS opened at $65.89 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 2.38. Kodiak Gas Services has a 12-month low of $30.06 and a 12-month high of $77.68. The firm has a 50-day moving average price of $70.18 and a 200 day moving average price of $58.40. The firm has a market capitalization of $5.85 billion, a P/E ratio of 89.03, a P/E/G ratio of 1.06 and a beta of 0.89.

Kodiak Gas Services (NYSE:KGS) last issued its earnings results on Monday, May 11th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. Kodiak Gas Services had a net margin of 5.13% and a return on equity of 13.12%. The company had revenue of $345.76 million for the quarter, compared to the consensus estimate of $340.23 million. During the same period in the previous year, the firm earned $0.33 earnings per share. Kodiak Gas Services’s quarterly revenue was up 4.9% compared to the same quarter last year. Sell-side analysts forecast that Kodiak Gas Services will post 2.27 EPS for the current year.

Kodiak Gas Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Monday, May 18th were given a $0.49 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.96 dividend on an annualized basis and a yield of 3.0%. Kodiak Gas Services’s payout ratio is presently 264.86%.

Insider Transactions at Kodiak Gas Services

In related news, CAO Ewan William Hamilton sold 2,729 shares of Kodiak Gas Services stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $68.62, for a total value of $187,263.98. Following the completion of the transaction, the chief accounting officer owned 31,617 shares in the company, valued at $2,169,558.54. The trade was a 7.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Cory Anne Roclawski sold 4,169 shares of Kodiak Gas Services stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $68.36, for a total transaction of $284,992.84. Following the sale, the executive vice president directly owned 24,662 shares of the company’s stock, valued at approximately $1,685,894.32. This trade represents a 14.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,523 shares of company stock valued at $921,319 over the last three months. 0.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Invesco Ltd. boosted its holdings in Kodiak Gas Services by 20.4% in the fourth quarter. Invesco Ltd. now owns 7,593,274 shares of the company’s stock valued at $283,988,000 after purchasing an additional 1,287,485 shares in the last quarter. Vanguard Group Inc. raised its holdings in Kodiak Gas Services by 33.8% during the fourth quarter. Vanguard Group Inc. now owns 6,170,360 shares of the company’s stock worth $230,771,000 after purchasing an additional 1,559,172 shares in the last quarter. Zimmer Partners LP raised its holdings in Kodiak Gas Services by 45.7% during the fourth quarter. Zimmer Partners LP now owns 4,271,553 shares of the company’s stock worth $159,756,000 after purchasing an additional 1,339,849 shares in the last quarter. State Street Corp lifted its position in shares of Kodiak Gas Services by 31.8% during the 4th quarter. State Street Corp now owns 3,340,008 shares of the company’s stock worth $124,916,000 after buying an additional 806,191 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Kodiak Gas Services by 4.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,105,555 shares of the company’s stock worth $181,108,000 after buying an additional 135,998 shares during the last quarter. 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.