Short Interest in Kodiak Gas Services, Inc. (NYSE:KGS) Drops By 17.9%

Kodiak Gas Services, Inc. (NYSE:KGS - Get Free Report) was the target of a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 2,880,000 shares, a drop of 17.9% from the December 31st total of 3,510,000 shares. Based on an average trading volume of 850,400 shares, the days-to-cover ratio is currently 3.4 days. Approximately 6.3% of the shares of the stock are short sold.

Insider Activity at Kodiak Gas Services

In other news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of the company's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $47.50, for a total transaction of $177,112,157.50. Following the completion of the sale, the insider now directly owns 34,771,323 shares of the company's stock, valued at $1,651,637,842.50. This represents a 9.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ewan William Hamilton sold 3,000 shares of Kodiak Gas Services stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $40.45, for a total value of $121,350.00. Following the transaction, the insider now owns 31,745 shares in the company, valued at $1,284,085.25. This represents a 8.63 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Amalgamated Bank raised its holdings in shares of Kodiak Gas Services by 112.6% in the 4th quarter. Amalgamated Bank now owns 1,110 shares of the company's stock valued at $45,000 after acquiring an additional 588 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Kodiak Gas Services in the fourth quarter worth about $49,000. Kestra Investment Management LLC bought a new position in shares of Kodiak Gas Services during the fourth quarter valued at approximately $233,000. Principal Financial Group Inc. lifted its position in shares of Kodiak Gas Services by 14.2% in the 4th quarter. Principal Financial Group Inc. now owns 24,013 shares of the company's stock worth $980,000 after purchasing an additional 2,993 shares during the period. Finally, Rhumbline Advisers boosted its position in Kodiak Gas Services by 53.2% during the 4th quarter. Rhumbline Advisers now owns 44,042 shares of the company's stock valued at $1,798,000 after acquiring an additional 15,285 shares in the last quarter. 24.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. The Goldman Sachs Group lifted their price objective on Kodiak Gas Services from $32.00 to $44.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Mizuho upped their target price on shares of Kodiak Gas Services from $47.00 to $55.00 and gave the company an "outperform" rating in a research note on Monday. Royal Bank of Canada increased their price objective on Kodiak Gas Services from $35.00 to $40.00 and gave the stock an "outperform" rating in a research note on Monday, November 11th. Raymond James upped their price target on Kodiak Gas Services from $35.00 to $39.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Finally, Barclays increased their price target on Kodiak Gas Services from $32.00 to $44.00 and gave the stock an "equal weight" rating in a report on Monday, January 13th. 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 company currently has a consensus rating of "Moderate Buy" and an average target price of $41.09.

Kodiak Gas Services Stock Up 1.6 %

Shares of NYSE KGS traded up $0.77 during trading on Wednesday, hitting $47.72. 1,543,295 shares of the company traded hands, compared to its average volume of 1,086,845. The business's fifty day moving average is $43.17 and its 200 day moving average is $34.76. Kodiak Gas Services has a fifty-two week low of $22.98 and a fifty-two week high of $50.43. 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 firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 164.54 and a beta of 1.18.

Kodiak Gas Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 14th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.64 annualized dividend and a dividend yield of 3.44%. Kodiak Gas Services's dividend payout ratio is currently 565.54%.

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.