Kodiak Gas Services (NYSE:KGS) Hits New 1-Year High - Here's Why

Shares of Kodiak Gas Services, Inc. (NYSE:KGS - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $37.15 and last traded at $37.15, with a volume of 6766 shares traded. The stock had previously closed at $36.44.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KGS. Raymond James increased 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. Bank of America assumed coverage on Kodiak Gas Services in a research report on Wednesday, September 18th. They issued a "buy" rating and a $30.00 price target for the company. Barclays upped 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. Truist Financial increased their target price on Kodiak Gas Services from $35.00 to $40.00 and gave the company a "buy" rating in a report on Friday, November 8th. Finally, Stifel Nicolaus increased their price objective on Kodiak Gas Services from $31.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, August 14th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Kodiak Gas Services has an average rating of "Moderate Buy" and a consensus target price of $34.64.

Kodiak Gas Services Stock Performance

The company has a market cap of $3.29 billion, a P/E ratio of 129.66 and a beta of 0.79. The firm has a 50 day moving average of $30.97 and a 200-day moving average of $28.51. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 1.86.

Kodiak Gas Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, November 1st were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.64 annualized dividend and a dividend yield of 4.36%. Kodiak Gas Services's dividend payout ratio is presently 565.52%.

Hedge Funds Weigh In On Kodiak Gas Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Security National Bank purchased a new stake in shares of Kodiak Gas Services during the 2nd quarter valued at approximately $39,000. HWG Holdings LP purchased a new position in Kodiak Gas Services during the second quarter worth about $40,000. nVerses Capital LLC raised its holdings in Kodiak Gas Services by 90.9% during the second quarter. nVerses Capital LLC now owns 2,100 shares of the company's stock worth $57,000 after purchasing an additional 1,000 shares in the last quarter. SG Americas Securities LLC purchased a new position in Kodiak Gas Services during the third quarter worth about $125,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Kodiak Gas Services by 115.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,691 shares of the company's stock worth $155,000 after buying an additional 3,045 shares during the period. Hedge funds and other institutional investors own 24.95% of the company's stock.

Kodiak Gas Services Company Profile

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.