Kodiak Gas Services, Inc. (NYSE:KGS) Sees Significant Increase in Short Interest

Kodiak Gas Services, Inc. (NYSE:KGS) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 3,180,000 shares, an increase of 10.4% from the January 15th total of 2,880,000 shares. Based on an average daily volume of 1,010,000 shares, the days-to-cover ratio is currently 3.1 days. Currently, 6.4% of the shares of the stock are sold short.

Insider Transactions 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 shares were sold at an average price of $47.50, for a total value of $177,112,157.50. Following the completion of the sale, the insider now owns 34,771,323 shares of the company’s stock, valued at approximately $1,651,637,842.50. This represents a 9.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ewan William Hamilton sold 3,000 shares of the 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 sale, the insider now directly owns 31,745 shares of the company’s stock, valued at approximately $1,284,085.25. This trade represents a 8.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Kodiak Gas Services

A number of hedge funds and other institutional investors have recently made changes to their positions in KGS. FMR LLC grew its holdings in Kodiak Gas Services by 50.2% in the fourth quarter. FMR LLC now owns 7,342,296 shares of the company’s stock valued at $299,786,000 after purchasing an additional 2,452,492 shares during the last quarter. Zimmer Partners LP increased its position in Kodiak Gas Services by 88.1% during the 4th quarter. Zimmer Partners LP now owns 3,347,700 shares of the company’s stock worth $136,687,000 after purchasing an additional 1,567,849 shares in the last quarter. Invesco Ltd. raised its stake in Kodiak Gas Services by 1.1% in the 4th quarter. Invesco Ltd. now owns 2,942,782 shares of the company’s stock valued at $120,154,000 after purchasing an additional 32,966 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Kodiak Gas Services by 52.3% in the 4th quarter. Vanguard Group Inc. now owns 2,659,015 shares of the company’s stock valued at $108,568,000 after purchasing an additional 913,104 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Kodiak Gas Services by 14.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,650,183 shares of the company’s stock worth $67,379,000 after purchasing an additional 202,050 shares during the last quarter. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Analyst Ratings Changes

KGS has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Kodiak Gas Services from $34.00 to $42.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. Raymond James upped their price objective on Kodiak Gas Services from $35.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Mizuho lifted their target price on Kodiak Gas Services from $47.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Barclays upped their price target on Kodiak Gas Services from $32.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, Royal Bank of Canada increased their price objective on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $41.09.

Kodiak Gas Services Stock Up 0.7 %

Shares of Kodiak Gas Services stock opened at $45.22 on Tuesday. 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 has a 52-week low of $23.54 and a 52-week high of $50.43. The company has a market capitalization of $3.96 billion, a P/E ratio of 155.93 and a beta of 1.18. The company has a 50 day moving average of $44.06 and a 200 day moving average of $35.88.

Kodiak Gas Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 14th will be given a dividend of $0.41 per share. The ex-dividend date is Friday, February 14th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.63%. Kodiak Gas Services’s dividend payout ratio (DPR) is presently 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.