Kodiak Gas Services (NYSE:KGS) Hits New 12-Month High at $29.76

Kodiak Gas Services, Inc. (NYSE:KGS)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $29.76 and last traded at $29.39, with a volume of 105583 shares trading hands. The stock had previously closed at $28.67.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Stifel Nicolaus raised their target price on Kodiak Gas Services from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Redburn Atlantic assumed coverage on Kodiak Gas Services in a research report on Thursday. They set a “buy” rating and a $35.00 target price on the stock. Royal Bank of Canada raised their target price on Kodiak Gas Services from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Barclays assumed coverage on Kodiak Gas Services in a research report on Wednesday, July 17th. They set an “equal weight” rating and a $29.00 target price on the stock. Finally, Bank of America assumed coverage on shares of Kodiak Gas Services in a research note on Wednesday. They issued a “buy” rating and a $30.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.78.

Kodiak Gas Services Price Performance

The company has a current ratio of 1.05, a quick ratio of 0.70 and a debt-to-equity ratio of 1.70. The company’s fifty day moving average is $27.38 and its two-hundred day moving average is $27.12. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 33.62 and a beta of 0.90.

Kodiak Gas Services (NYSE:KGS) last posted its earnings results on Monday, August 12th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.29). The company had revenue of $309.65 million during the quarter, compared to analyst estimates of $313.88 million. Kodiak Gas Services had a net margin of 5.23% and a return on equity of 7.20%. As a group, research analysts predict that Kodiak Gas Services, Inc. will post 1.15 earnings per share for the current year.

Kodiak Gas Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 12th were paid a $0.41 dividend. This is an increase from Kodiak Gas Services’s previous quarterly dividend of $0.38. The ex-dividend date was Monday, August 12th. This represents a $1.64 annualized dividend and a dividend yield of 5.54%. Kodiak Gas Services’s payout ratio is 186.36%.

Institutional Investors Weigh In On Kodiak Gas Services

Institutional investors have recently modified their holdings of the company. Security National Bank purchased a new stake in shares of Kodiak Gas Services during the 2nd quarter worth $39,000. HWG Holdings LP purchased a new stake in shares of Kodiak Gas Services during the 2nd quarter worth $40,000. PNC Financial Services Group Inc. purchased a new stake in shares of Kodiak Gas Services during the 4th quarter worth $46,000. nVerses Capital LLC lifted its position in shares of Kodiak Gas Services by 90.9% during the 2nd quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock worth $57,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Parallel Advisors LLC purchased a new stake in shares of Kodiak Gas Services during the 4th quarter worth $60,000. 24.95% of the stock is owned by hedge funds and other institutional investors.

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.