Kodiak Gas Services (NYSE:KGS) Sees Large Volume Increase – Here’s Why

Kodiak Gas Services, Inc. (NYSE:KGS) shares saw strong trading volume on Friday . 753,785 shares traded hands during trading, an increase of 45% from the previous session’s volume of 520,351 shares.The stock last traded at $35.71 and had previously closed at $35.80.

Analyst Ratings Changes

KGS has been the subject of a number of research analyst reports. Mizuho initiated coverage on Kodiak Gas Services in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $36.00 target price for the company. Barclays boosted their price objective on Kodiak Gas Services from $29.00 to $32.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Royal Bank of Canada increased their target price on Kodiak Gas Services from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Redburn Atlantic assumed coverage on shares of Kodiak Gas Services in a research report on Thursday, September 19th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Bank of America started coverage on shares of Kodiak Gas Services in a report on Wednesday, September 18th. They set a “buy” rating and a $30.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Kodiak Gas Services presently has a consensus rating of “Moderate Buy” and an average target price of $34.64.

Kodiak Gas Services Stock Performance

The company’s 50 day moving average price is $30.97 and its 200-day moving average price is $28.50. The stock has a market cap of $3.19 billion, a P/E ratio of 125.66 and a beta of 0.79. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date was Friday, November 1st. Kodiak Gas Services’s payout ratio is 565.54%.

Hedge Funds Weigh In On Kodiak Gas Services

Several hedge funds have recently modified their holdings of the company. Security National Bank purchased a new stake in shares of Kodiak Gas Services during the second quarter valued at approximately $39,000. HWG Holdings LP purchased a new stake in shares of Kodiak Gas Services during the 2nd quarter valued at $40,000. nVerses Capital LLC raised its stake 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 period. SG Americas Securities LLC purchased a new position in shares of Kodiak Gas Services in the 3rd quarter worth about $125,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Kodiak Gas Services by 115.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,691 shares of the company’s stock valued at $155,000 after buying an additional 3,045 shares during the period. Institutional investors own 24.95% of the company’s stock.

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.