Kodiak Gas Services (NYSE:KGS) Reaches New 12-Month High on Analyst Upgrade

Kodiak Gas Services, Inc. (NYSE:KGS)’s stock price hit a new 52-week high during mid-day trading on Tuesday after Citigroup raised their price target on the stock from $41.00 to $48.00. Citigroup currently has a buy rating on the stock. Kodiak Gas Services traded as high as $44.67 and last traded at $44.44, with a volume of 116611 shares changing hands. The stock had previously closed at $42.82.

Other equities research analysts have also recently issued reports about the stock. Mizuho started coverage on shares of Kodiak Gas Services in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $36.00 price target on the stock. Raymond James raised 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 report on Friday, November 8th. Royal Bank of Canada lifted their target price on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Redburn Atlantic assumed coverage on Kodiak Gas Services in a research note on Thursday, September 19th. They set a “buy” rating and a $35.00 price target on the stock. Finally, The Goldman Sachs Group lifted their price objective on Kodiak Gas Services from $32.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.36.

Insider Activity at Kodiak Gas Services

In related news, insider Ewan William Hamilton sold 3,000 shares of the firm’s stock in a transaction that occurred 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 approximately $1,284,085.25. This trade represents a 8.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is owned by insiders.

Institutional Investors Weigh In On Kodiak Gas Services

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in shares of Kodiak Gas Services by 94.7% during the 4th quarter. GAMMA Investing LLC now owns 703 shares of the company’s stock valued at $29,000 after buying an additional 342 shares during the period. B. Riley Wealth Advisors Inc. grew its position in Kodiak Gas Services by 3.4% in the third quarter. B. Riley Wealth Advisors Inc. now owns 12,455 shares of the company’s stock valued at $371,000 after acquiring an additional 405 shares in the last quarter. Dark Forest Capital Management LP raised its stake in shares of Kodiak Gas Services by 5.9% during the second quarter. Dark Forest Capital Management LP now owns 20,894 shares of the company’s stock valued at $570,000 after purchasing an additional 1,164 shares during the period. HWG Holdings LP acquired a new position in shares of Kodiak Gas Services during the second quarter worth $40,000. Finally, Pacer Advisors Inc. boosted its stake in shares of Kodiak Gas Services by 7.6% in the second quarter. Pacer Advisors Inc. now owns 39,944 shares of the company’s stock valued at $1,089,000 after purchasing an additional 2,816 shares during the period. Institutional investors and hedge funds own 24.95% of the company’s stock.

Kodiak Gas Services Stock Performance

The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 156.11 and a beta of 1.15. 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 stock’s fifty day moving average is $39.84 and its two-hundred day moving average is $32.52.

Kodiak Gas Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, November 1st were paid a dividend of $0.41 per share. The ex-dividend date was Friday, November 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.62%. Kodiak Gas Services’s dividend payout ratio is presently 565.52%.

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.