JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Kodiak Gas Services (NYSE:KGS) Stock

Kodiak Gas Services (NYSE:KGS) had its price target increased by research analysts at JPMorgan Chase & Co. from $34.00 to $42.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 3.86% from the stock’s current price.

Several other research firms also recently weighed in on KGS. Barclays raised their target price on shares of Kodiak Gas Services from $29.00 to $32.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Bank of America assumed coverage on shares of Kodiak Gas Services in a research note on Wednesday, September 18th. They set a “buy” rating and a $30.00 price objective for the company. Royal Bank of Canada upped their target price on Kodiak Gas Services from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. The Goldman Sachs Group increased their target price on Kodiak Gas Services from $32.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Mizuho assumed coverage on Kodiak Gas Services in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $36.00 price target for the company. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.09.

Kodiak Gas Services Stock Up 1.6 %

KGS opened at $40.44 on Friday. Kodiak Gas Services has a one year low of $17.50 and a one year high of $41.25. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 139.45 and a beta of 0.79. The business’s fifty day moving average is $33.44 and its two-hundred day moving average is $29.34. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.93 and a current ratio of 1.27.

Insider Activity

In other Kodiak Gas Services news, insider Ewan William Hamilton sold 3,000 shares of Kodiak Gas Services stock in a transaction 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 $1,284,085.25. This trade represents a 8.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. FMR LLC raised its holdings in Kodiak Gas Services by 444.4% in the third quarter. FMR LLC now owns 4,889,804 shares of the company’s stock valued at $141,804,000 after buying an additional 3,991,630 shares during the period. Zimmer Partners LP raised its stake in shares of Kodiak Gas Services by 313.0% in the 3rd quarter. Zimmer Partners LP now owns 1,779,851 shares of the company’s stock valued at $51,616,000 after acquiring an additional 1,348,899 shares during the period. Wellington Management Group LLP acquired a new position in shares of Kodiak Gas Services during the 3rd quarter valued at $44,558,000. HITE Hedge Asset Management LLC boosted its position in Kodiak Gas Services by 74.8% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 780,600 shares of the company’s stock worth $21,279,000 after purchasing an additional 334,086 shares during the period. Finally, State Street Corp boosted its position in Kodiak Gas Services by 8.7% during the 3rd quarter. State Street Corp now owns 678,925 shares of the company’s stock worth $19,689,000 after purchasing an additional 54,202 shares during the period. 24.95% of the stock is owned by hedge funds and other institutional investors.

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.