Kodiak Gas Services (NYSE:KGS) Reaches New 1-Year High – Here’s Why

Shares of Kodiak Gas Services, Inc. (NYSE:KGS) hit a new 52-week high on Monday . The stock traded as high as $44.30 and last traded at $44.20, with a volume of 25330 shares traded. The stock had previously closed at $43.66.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Kodiak Gas Services from $32.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Redburn Atlantic assumed coverage on Kodiak Gas Services in a research report on Thursday, September 19th. They issued a “buy” rating and a $35.00 target price on the stock. Citigroup started coverage on Kodiak Gas Services in a research note on Friday, September 27th. They set a “buy” rating and a $35.00 price target on the stock. Barclays lifted their price objective on Kodiak Gas Services from $29.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. increased their target price on Kodiak Gas Services from $34.00 to $42.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.09.

Kodiak Gas Services Trading Up 0.8 %

The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.93 and a current ratio of 1.27. The company’s 50-day moving average price is $38.55 and its 200-day moving average price is $31.81. The firm has a market capitalization of $3.85 billion, a PE ratio of 151.76 and a beta of 1.15.

Kodiak Gas Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend was Friday, November 1st. Kodiak Gas Services’s dividend payout ratio (DPR) is 565.52%.

Insider Activity

In other news, insider Ewan William Hamilton sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $40.45, for a total transaction of $121,350.00. Following the completion of the sale, the insider now owns 31,745 shares in the company, valued at approximately $1,284,085.25. The trade was a 8.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Kodiak Gas Services

Several hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in Kodiak Gas Services by 94.7% in the 4th quarter. GAMMA Investing LLC now owns 703 shares of the company’s stock valued at $29,000 after buying an additional 342 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Kodiak Gas Services by 55.6% during the third quarter. JPMorgan Chase & Co. now owns 110,425 shares of the company’s stock worth $3,202,000 after acquiring an additional 39,477 shares during the period. Principal Financial Group Inc. purchased a new position in Kodiak Gas Services during the third quarter worth about $610,000. B. Riley Wealth Advisors Inc. lifted its position in Kodiak Gas Services by 3.4% in the third quarter. B. Riley Wealth Advisors Inc. now owns 12,455 shares of the company’s stock valued at $371,000 after purchasing an additional 405 shares during the period. Finally, Franklin Resources Inc. purchased a new stake in Kodiak Gas Services in the 3rd quarter valued at approximately $1,242,000. Institutional investors and hedge funds own 24.95% of the company’s stock.

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.