Bank of America Initiates Coverage on Kodiak Gas Services (NYSE:KGS)

Bank of America initiated coverage on shares of Kodiak Gas Services (NYSE:KGS) in a report released on Wednesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $30.00 price target on the stock. Bank of America‘s target price suggests a potential upside of 1.59% from the company’s previous close.

A number of other research firms have also issued reports on KGS. Royal Bank of Canada upped their target price on shares of Kodiak Gas Services from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Stifel Nicolaus boosted their price objective on shares of Kodiak Gas Services from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Barclays began coverage on shares of Kodiak Gas Services in a research report on Wednesday, July 17th. They set an “equal weight” rating and a $29.00 target price on the stock. Finally, Truist Financial boosted their price target on Kodiak Gas Services from $32.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.78.

Kodiak Gas Services Trading Up 3.0 %

Shares of KGS opened at $29.53 on Wednesday. Kodiak Gas Services has a 1-year low of $16.72 and a 1-year high of $29.77. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.05 and a quick ratio of 0.70. The firm has a 50 day simple moving average of $27.33 and a 200-day simple moving average of $27.10. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 33.56 and a beta of 0.90.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings results on Monday, August 12th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). Kodiak Gas Services had a return on equity of 7.20% and a net margin of 5.23%. The company had revenue of $309.65 million during the quarter, compared to analyst estimates of $313.88 million. Equities analysts forecast that Kodiak Gas Services will post 1.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Kodiak Gas Services

A number of hedge funds have recently made changes to their positions in KGS. Security National Bank purchased a new position in shares of Kodiak Gas Services in the 2nd quarter worth $39,000. HWG Holdings LP purchased a new position in shares of Kodiak Gas Services in the 2nd quarter worth about $40,000. nVerses Capital LLC lifted its stake in shares of Kodiak Gas Services by 90.9% in the 2nd quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock valued at $57,000 after purchasing an additional 1,000 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in shares of Kodiak Gas Services in the 4th quarter valued at about $46,000. Finally, Parallel Advisors LLC purchased a new stake in shares of Kodiak Gas Services during the 4th quarter worth about $60,000. 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.