Kodiak Gas Services (NYSE:KGS) Sets New 12-Month High on Analyst Upgrade

Kodiak Gas Services, Inc. (NYSE:KGS) hit a new 52-week high during mid-day trading on Tuesday after Citigroup raised their price target on the stock from $41.00 to $48.00. Citigroup currently has a buy rating on the stock. Kodiak Gas Services traded as high as $44.67 and last traded at $44.44, with a volume of 116611 shares trading hands. The stock had previously closed at $42.82.

Several other analysts have also recently issued reports on the company. The Goldman Sachs Group increased their price objective on Kodiak Gas Services from $32.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Mizuho began coverage on Kodiak Gas Services in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $36.00 target price on the stock. Truist Financial increased their target price on Kodiak Gas Services from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, November 8th. Bank of America began coverage on Kodiak Gas Services in a report on Wednesday, September 18th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Barclays increased their target price on Kodiak Gas Services from $32.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Kodiak Gas Services has a consensus rating of “Moderate Buy” and an average price target of $39.36.

Insider Transactions at Kodiak Gas Services

In related news, insider Ewan William Hamilton sold 3,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $40.45, for a total value of $121,350.00. Following the completion of the sale, the insider now owns 31,745 shares in the company, valued at $1,284,085.25. This trade represents a 8.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Kodiak Gas Services

Hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new stake in Kodiak Gas Services in the third quarter valued at about $610,000. Victory Capital Management Inc. acquired a new stake in shares of Kodiak Gas Services during the 3rd quarter valued at approximately $2,974,000. Chesapeake Capital Corp IL acquired a new stake in shares of Kodiak Gas Services during the 3rd quarter valued at approximately $603,000. Barclays PLC lifted its position in shares of Kodiak Gas Services by 209.3% during the 3rd quarter. Barclays PLC now owns 42,350 shares of the company’s stock valued at $1,228,000 after acquiring an additional 28,658 shares during the period. Finally, Tidal Investments LLC acquired a new stake in shares of Kodiak Gas Services during the 3rd quarter valued at approximately $598,000. Institutional investors and hedge funds own 24.95% of the company’s stock.

Kodiak Gas Services Stock Performance

The stock’s 50-day moving average price is $40.33 and its 200-day moving average price is $32.74. 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 has a market capitalization of $4.04 billion, a price-to-earnings ratio of 159.14 and a beta of 1.15.

Kodiak Gas Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, November 1st were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.55%. Kodiak Gas Services’s payout ratio is 565.52%.

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.