Kodiak Gas Services, Inc. (NYSE:KGS - Get Free Report) was the target of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 3,180,000 shares, an increase of 10.4% from the January 15th total of 2,880,000 shares. Currently, 6.4% of the shares of the stock are short sold. Based on an average daily volume of 1,010,000 shares, the days-to-cover ratio is currently 3.1 days.
Insiders Place Their Bets
In related news, insider Ewan William Hamilton sold 3,000 shares of Kodiak Gas Services stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $40.45, for a total transaction of $121,350.00. Following the sale, the insider now owns 31,745 shares of the company's stock, valued at approximately $1,284,085.25. This trade represents a 8.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $47.50, for a total value of $177,112,157.50. Following the completion of the transaction, the insider now owns 34,771,323 shares of the company's stock, valued at $1,651,637,842.50. The trade was a 9.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.
Institutional Investors Weigh In On Kodiak Gas Services
Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Kodiak Gas Services in the 3rd quarter worth about $125,000. HWG Holdings LP grew its stake in shares of Kodiak Gas Services by 5,435.7% during the third quarter. HWG Holdings LP now owns 80,932 shares of the company's stock valued at $2,347,000 after buying an additional 79,470 shares during the last quarter. United Advisor Group LLC purchased a new stake in shares of Kodiak Gas Services in the third quarter worth approximately $341,000. Principal Financial Group Inc. bought a new stake in shares of Kodiak Gas Services during the 3rd quarter worth approximately $610,000. Finally, Victory Capital Management Inc. bought a new position in Kodiak Gas Services in the 3rd quarter valued at $2,974,000. Institutional investors own 24.95% of the company's stock.
Kodiak Gas Services Trading Up 1.4 %
NYSE:KGS traded up $0.65 during midday trading on Wednesday, hitting $46.57. 1,074,739 shares of the company traded hands, compared to its average volume of 1,056,476. The firm has a market capitalization of $4.08 billion, a P/E ratio of 160.58 and a beta of 1.18. The firm's fifty day moving average is $44.21 and its 200-day moving average is $36.08. Kodiak Gas Services has a 12-month low of $23.57 and a 12-month high of $50.43. The company has a current ratio of 1.27, a quick ratio of 0.93 and a debt-to-equity ratio of 1.86.
Kodiak Gas Services Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 14th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Friday, February 14th. Kodiak Gas Services's dividend payout ratio is currently 565.54%.
Analyst Ratings Changes
KGS has been the subject of a number of research reports. Raymond James upped their target price on shares of Kodiak Gas Services from $35.00 to $39.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Citigroup raised their price objective on Kodiak Gas Services from $41.00 to $48.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. Truist Financial lifted their target price on Kodiak Gas Services from $35.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Royal Bank of Canada increased their price target on Kodiak Gas Services from $35.00 to $40.00 and gave the company an "outperform" rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. lifted their price objective 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 research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $41.09.
Read Our Latest Research Report on Kodiak Gas Services
About Kodiak Gas Services
(
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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.
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