Kodiak Gas Services (NYSE:KGS) Now Covered by Analysts at Bank of America

Bank of America assumed coverage on shares of Kodiak Gas Services (NYSE:KGS) in a report issued on Wednesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $30.00 target price on the stock.

KGS has been the topic of a number of other reports. Stifel Nicolaus boosted their target price on shares of Kodiak Gas Services from $31.00 to $35.00 and gave the stock a buy rating in a report on Wednesday, August 14th. Truist Financial boosted their target price on shares of Kodiak Gas Services from $32.00 to $35.00 and gave the stock a buy rating in a report on Thursday, August 15th. Barclays assumed coverage on shares of Kodiak Gas Services in a report on Wednesday, July 17th. They set an equal weight rating and a $29.00 target price on the stock. Finally, Royal Bank of Canada upped their price objective on shares of Kodiak Gas Services from $30.00 to $31.00 and gave the company an outperform rating in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Kodiak Gas Services has an average rating of Moderate Buy and an average target price of $31.38.

Kodiak Gas Services Stock Up 2.7 %

NYSE:KGS opened at $28.67 on Wednesday. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 32.58 and a beta of 0.90. The company has a quick ratio of 0.70, a current ratio of 1.05 and a debt-to-equity ratio of 1.70. Kodiak Gas Services has a twelve month low of $16.72 and a twelve month high of $29.75. The stock’s 50 day moving average price is $27.29 and its two-hundred day moving average price is $27.08.

Kodiak Gas Services (NYSE:KGS) last issued its earnings results on Monday, August 12th. The company reported $0.23 earnings per share 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 analyst estimates of $313.88 million. Kodiak Gas Services had a return on equity of 7.20% and a net margin of 5.23%. Equities research analysts expect that Kodiak Gas Services will post 1.15 earnings per share for the current fiscal year.

Kodiak Gas Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 12th were issued a $0.41 dividend. This is an increase from Kodiak Gas Services’s previous quarterly dividend of $0.38. This represents a $1.64 annualized dividend and a dividend yield of 5.72%. The ex-dividend date was Monday, August 12th. Kodiak Gas Services’s payout ratio is currently 186.36%.

Hedge Funds Weigh In On Kodiak Gas Services

Several institutional investors and hedge funds have recently modified their holdings of the business. Quadrature Capital Ltd grew its stake in shares of Kodiak Gas Services by 3.4% in the first quarter. Quadrature Capital Ltd now owns 27,642 shares of the company’s stock valued at $756,000 after acquiring an additional 906 shares in the last quarter. nVerses Capital LLC grew its stake in shares of Kodiak Gas Services by 90.9% in the second quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock valued at $57,000 after acquiring an additional 1,000 shares in the last quarter. Wellington Shields & Co. LLC grew its stake in shares of Kodiak Gas Services by 16.7% in the second quarter. Wellington Shields & Co. LLC now owns 7,000 shares of the company’s stock valued at $191,000 after acquiring an additional 1,000 shares in the last quarter. Dark Forest Capital Management LP grew its stake in shares of Kodiak Gas Services by 5.9% in the second quarter. Dark Forest Capital Management LP now owns 20,894 shares of the company’s stock valued at $570,000 after acquiring an additional 1,164 shares in the last quarter. Finally, Security National Bank acquired a new position in shares of Kodiak Gas Services in the second quarter valued at about $39,000. 24.95% of the stock is currently owned by institutional investors and hedge funds.

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.