Kodiak Gas Services (NYSE:KGS) Research Coverage Started at Citigroup

Citigroup initiated coverage on shares of Kodiak Gas Services (NYSE:KGS) in a report published on Friday, MarketBeat reports. The firm issued a buy rating and a $35.00 price target on the stock.

A number of other equities analysts also recently issued reports on KGS. Truist Financial upped their price target on Kodiak Gas Services from $32.00 to $35.00 and gave the company a buy rating in a report on Thursday, August 15th. Bank of America initiated coverage on shares of Kodiak Gas Services in a report on Wednesday, September 18th. They issued a buy rating and a $30.00 target price for the company. Royal Bank of Canada lifted their price target on shares of Kodiak Gas Services from $30.00 to $31.00 and gave the stock an outperform rating in a research note on Wednesday, August 21st. Barclays initiated coverage on shares of Kodiak Gas Services in a research note on Wednesday, July 17th. They issued an equal weight rating and a $29.00 price objective for the company. Finally, Stifel Nicolaus lifted their target price on Kodiak Gas Services from $31.00 to $35.00 and gave the stock a buy rating in a research report on Wednesday, August 14th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Kodiak Gas Services has a consensus rating of Moderate Buy and an average price target of $32.10.

Kodiak Gas Services Price Performance

Kodiak Gas Services stock opened at $29.00 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.70 and a debt-to-equity ratio of 1.70. The company has a fifty day simple moving average of $27.45 and a 200-day simple moving average of $27.28. The stock has a market cap of $2.44 billion, a P/E ratio of 32.95 and a beta of 0.89. Kodiak Gas Services has a 12-month low of $16.72 and a 12-month high of $30.52.

Kodiak Gas Services (NYSE:KGS) last posted its quarterly 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 business had revenue of $309.65 million during the quarter, compared to analyst estimates of $313.88 million. Kodiak Gas Services had a net margin of 5.23% and a return on equity of 7.20%. Equities analysts expect that Kodiak Gas Services will post 1.15 EPS for the current fiscal year.

Kodiak Gas Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 12th were given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 5.66%. The ex-dividend date was Monday, August 12th. This is a boost from Kodiak Gas Services’s previous quarterly dividend of $0.38. Kodiak Gas Services’s payout ratio is 186.36%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Security National Bank purchased a new stake in shares of Kodiak Gas Services in the second quarter valued at about $39,000. HWG Holdings LP purchased a new stake in Kodiak Gas Services in the 2nd quarter valued at approximately $40,000. PNC Financial Services Group Inc. acquired a new position in Kodiak Gas Services during the 4th quarter worth approximately $46,000. 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 buying an additional 1,000 shares in the last quarter. Finally, Parallel Advisors LLC acquired a new stake in shares of Kodiak Gas Services in the 4th quarter valued at approximately $60,000. Institutional investors and hedge funds 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.