Kodiak Gas Services (NYSE:KGS) Trading 5.8% Higher Following Analyst Upgrade

Shares of Kodiak Gas Services, Inc. (NYSE:KGS) traded up 5.8% during trading on Wednesday after Truist Financial raised their price target on the stock from $45.00 to $47.00. Truist Financial currently has a buy rating on the stock. Kodiak Gas Services traded as high as $37.60 and last traded at $37.33. 628,649 shares changed hands during trading, a decline of 46% from the average session volume of 1,158,667 shares. The stock had previously closed at $35.30.

A number of other equities research analysts have also recently weighed in on KGS. Raymond James reissued an “outperform” rating on shares of Kodiak Gas Services in a research report on Friday, March 7th. Citigroup boosted their price target on shares of Kodiak Gas Services from $41.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Royal Bank of Canada boosted their price target on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. boosted their price target on shares of Kodiak Gas Services from $34.00 to $42.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Finally, The Goldman Sachs Group boosted their price target on shares of 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 research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $42.18.

Insider Activity

In related news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $47.50, for a total transaction of $177,112,157.50. Following the sale, the insider now owns 34,771,323 shares in the company, valued at approximately $1,651,637,842.50. This trade represents a 9.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

Institutional Trading of Kodiak Gas Services

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in Kodiak Gas Services by 94.7% during the fourth quarter. GAMMA Investing LLC now owns 703 shares of the company’s stock worth $29,000 after purchasing an additional 342 shares during the period. Comerica Bank raised its stake in Kodiak Gas Services by 710.1% during the fourth quarter. Comerica Bank now owns 721 shares of the company’s stock worth $29,000 after purchasing an additional 632 shares during the period. Sterling Capital Management LLC raised its stake in shares of Kodiak Gas Services by 1,322.6% in the 4th quarter. Sterling Capital Management LLC now owns 754 shares of the company’s stock valued at $31,000 after acquiring an additional 701 shares during the period. Amalgamated Bank raised its stake in shares of Kodiak Gas Services by 112.6% in the 4th quarter. Amalgamated Bank now owns 1,110 shares of the company’s stock valued at $45,000 after acquiring an additional 588 shares during the period. Finally, Transcendent Capital Group LLC acquired a new stake in Kodiak Gas Services during the 4th quarter valued at $49,000. Institutional investors and hedge funds own 24.95% of the company’s stock.

Kodiak Gas Services Stock Performance

The stock’s fifty day moving average is $44.05 and its two-hundred day moving average is $37.44. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 127.63 and a beta of 1.30. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.93 and a current ratio of 1.27.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.15). The firm had revenue of $309.52 million for the quarter, compared to analyst estimates of $323.82 million. Kodiak Gas Services had a net margin of 2.23% and a return on equity of 7.91%. Analysts forecast that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current year.

Kodiak Gas Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 4.43%. The ex-dividend date was Friday, February 14th. Kodiak Gas Services’s dividend payout ratio is currently 277.97%.

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.