Kodiak Gas Services (NYSE:KGS) Price Target Raised to $42.00

Kodiak Gas Services (NYSE:KGS) had its target price raised by JPMorgan Chase & Co. from $34.00 to $42.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

KGS has been the topic of a number of other reports. Bank of America began coverage on Kodiak Gas Services in a report on Wednesday, September 18th. They set a “buy” rating and a $30.00 price objective on the stock. Royal Bank of Canada boosted their price target on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Mizuho assumed coverage on shares of Kodiak Gas Services in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $36.00 price target for the company. Citigroup initiated coverage on Kodiak Gas Services in a research report on Friday, September 27th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Truist Financial boosted their price objective on Kodiak Gas Services from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.09.

Kodiak Gas Services Trading Up 1.6 %

NYSE KGS opened at $40.44 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 1.86. The stock’s 50-day simple moving average is $33.44 and its two-hundred day simple moving average is $29.36. Kodiak Gas Services has a twelve month low of $17.50 and a twelve month high of $41.25. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 139.45 and a beta of 0.79.

Kodiak Gas Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were issued a $0.41 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.64 annualized dividend and a yield of 4.06%. Kodiak Gas Services’s dividend payout ratio (DPR) is presently 565.54%.

Insider Activity at Kodiak Gas Services

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 stock was sold at an average price of $40.45, for a total value of $121,350.00. Following the sale, the insider now directly owns 31,745 shares of the company’s stock, valued at $1,284,085.25. The trade was a 8.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kodiak Gas Services

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC lifted its holdings in shares of Kodiak Gas Services by 444.4% during the third quarter. FMR LLC now owns 4,889,804 shares of the company’s stock valued at $141,804,000 after purchasing an additional 3,991,630 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Kodiak Gas Services during the third quarter valued at $44,558,000. Zimmer Partners LP lifted its holdings in Kodiak Gas Services by 313.0% in the third quarter. Zimmer Partners LP now owns 1,779,851 shares of the company’s stock valued at $51,616,000 after acquiring an additional 1,348,899 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new position in Kodiak Gas Services in the third quarter worth about $9,741,000. Finally, HITE Hedge Asset Management LLC grew its stake in shares of Kodiak Gas Services by 74.8% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 780,600 shares of the company’s stock valued at $21,279,000 after purchasing an additional 334,086 shares during the period. 24.95% of the stock is currently owned by institutional investors.

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.