Short Interest in Kodiak Gas Services, Inc. (NYSE:KGS) Grows By 28.9%

Kodiak Gas Services, Inc. (NYSE:KGS - Get Free Report) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 3,170,000 shares, a growth of 28.9% from the October 15th total of 2,460,000 shares. Currently, 10.5% of the shares of the company are short sold. Based on an average daily volume of 702,300 shares, the short-interest ratio is presently 4.5 days.

Kodiak Gas Services Trading Up 1.8 %

NYSE:KGS traded up $0.64 on Friday, reaching $36.44. 2,384,005 shares of the company's stock were exchanged, compared to its average volume of 529,964. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 125.66 and a beta of 0.79. Kodiak Gas Services has a 52-week low of $17.50 and a 52-week high of $36.99. 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 business has a fifty day moving average of $30.97 and a 200-day moving average of $28.49.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last released its 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). The firm had revenue of $309.65 million for the quarter, compared to analysts' expectations of $313.88 million. Kodiak Gas Services had a return on equity of 7.91% and a net margin of 2.23%. As a group, analysts expect that Kodiak Gas Services will post 1.21 earnings per share for the current year.

Kodiak Gas Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date of this dividend was Friday, November 1st. Kodiak Gas Services's dividend payout ratio (DPR) is 565.54%.

Institutional Trading of Kodiak Gas Services

Institutional investors have recently modified their holdings of the stock. FMR LLC grew its position 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 worth $141,804,000 after acquiring an additional 3,991,630 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Kodiak Gas Services in the third quarter valued at about $44,558,000. Zimmer Partners LP boosted its stake in shares of Kodiak Gas Services by 313.0% during the third quarter. Zimmer Partners LP now owns 1,779,851 shares of the company's stock worth $51,616,000 after buying an additional 1,348,899 shares during the period. Blackstone Inc. grew its holdings 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 buying an additional 600,055 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Kodiak Gas Services in the 1st quarter valued at about $11,544,000. Hedge funds and other institutional investors own 24.95% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Redburn Atlantic began coverage on shares of Kodiak Gas Services in a research note on Thursday, September 19th. They issued a "buy" rating and a $35.00 target price for the company. Mizuho started coverage on shares of Kodiak Gas Services in a research note on Wednesday, October 2nd. They issued an "outperform" rating and a $36.00 price target on the stock. Truist Financial upped their target price on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Barclays upped their price target on Kodiak Gas Services from $29.00 to $32.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. Finally, Raymond James lifted 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 note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $34.64.

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.