Kodiak Gas Services (NYSE:KGS) Sets New 1-Year High Following Analyst Upgrade

Kodiak Gas Services, Inc. (NYSE:KGS - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday after Royal Bank of Canada raised their price target on the stock from $35.00 to $40.00. Royal Bank of Canada currently has an outperform rating on the stock. Kodiak Gas Services traded as high as $36.63 and last traded at $36.27, with a volume of 11624 shares. The stock had previously closed at $36.30.

Several other analysts have also commented on the stock. Truist Financial raised their price target on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the company a "buy" rating in a research report on Friday. Citigroup initiated coverage on shares of 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. Mizuho initiated 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 on the stock. Bank of America initiated coverage on shares of Kodiak Gas Services in a research report on Wednesday, September 18th. They set a "buy" rating and a $30.00 price target on the stock. Finally, Barclays raised their price target on shares of 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. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $34.64.

Institutional Trading of Kodiak Gas Services

Several hedge funds have recently made changes to their positions in the company. Security National Bank acquired a new position in Kodiak Gas Services during the second quarter worth about $39,000. HWG Holdings LP acquired a new position in Kodiak Gas Services during the second quarter worth about $40,000. nVerses Capital LLC raised its position 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 acquiring an additional 1,000 shares during the last quarter. SG Americas Securities LLC acquired a new position in Kodiak Gas Services during the third quarter worth about $125,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised 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 acquiring an additional 3,045 shares during the last quarter. Institutional investors and hedge funds own 24.95% of the company's stock.

Kodiak Gas Services Trading Down 0.4 %

The company has a debt-to-equity ratio of 1.70, a current ratio of 1.05 and a quick ratio of 0.70. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 125.42 and a beta of 0.79. The business's 50-day simple moving average is $30.19 and its 200-day simple moving average is $28.27.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its quarterly earnings results on Monday, August 12th. The company reported $0.23 EPS 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 8.14% and a net margin of 2.23%. Research analysts predict that Kodiak Gas Services, Inc. will post 1.15 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.53%. Kodiak Gas Services's dividend payout ratio (DPR) is 565.54%.

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.