Kodiak Gas Services (NYSE:KGS) Sees Large Volume Increase – What’s Next?

Shares of Kodiak Gas Services, Inc. (NYSE:KGS) saw unusually-high trading volume on Friday . Approximately 753,785 shares traded hands during mid-day trading, an increase of 45% from the previous session’s volume of 520,351 shares.The stock last traded at $35.71 and had previously closed at $35.80.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Raymond James raised their price objective on shares of Kodiak Gas Services from $35.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Citigroup assumed coverage on Kodiak Gas Services in a research report on Friday, September 27th. They issued a “buy” rating and a $35.00 price target for the company. Barclays raised their target price on Kodiak Gas Services from $29.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Stifel Nicolaus upped their price target on Kodiak Gas Services from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Bank of America began coverage on shares of Kodiak Gas Services in a report on Wednesday, September 18th. They issued a “buy” rating and a $30.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $34.64.

Kodiak Gas Services Trading Up 1.8 %

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 stock has a market cap of $3.19 billion, a P/E ratio of 125.66 and a beta of 0.79. The stock has a 50-day moving average price of $30.97 and a 200-day moving average price of $28.50.

Kodiak Gas Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were given a dividend of $0.41 per share. The ex-dividend date was Friday, November 1st. This represents a $1.64 annualized dividend and a yield of 4.50%. Kodiak Gas Services’s payout ratio is presently 565.54%.

Hedge Funds Weigh In On Kodiak Gas Services

A number of institutional investors have recently made changes to their positions in KGS. Sei Investments Co. purchased a new position in shares of Kodiak Gas Services in the 1st quarter worth about $604,000. Quadrature Capital Ltd boosted its stake in Kodiak Gas Services by 3.4% in the first quarter. Quadrature Capital Ltd now owns 27,642 shares of the company’s stock worth $756,000 after buying an additional 906 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Kodiak Gas Services during the first quarter valued at approximately $1,046,000. Blackstone Inc. raised its stake in shares of Kodiak Gas Services by 1,358.3% during the first quarter. Blackstone Inc. now owns 644,231 shares of the company’s stock worth $17,613,000 after acquiring an additional 600,055 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Kodiak Gas Services during the first quarter worth approximately $11,544,000. Institutional investors 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.