Kodiak Gas Services (NYSE:KGS) Reaches New 52-Week High – What’s Next?

Kodiak Gas Services, Inc. (NYSE:KGS) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $34.15 and last traded at $33.79, with a volume of 16267 shares. The stock had previously closed at $32.49.

Analyst Ratings Changes

A number of equities research analysts have issued reports on KGS shares. Citigroup began coverage on Kodiak Gas Services in a research report on Friday, September 27th. They issued a “buy” rating and a $35.00 price target on the stock. Truist Financial boosted their price target 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. Royal Bank of Canada lifted their price objective on shares of Kodiak Gas Services from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Stifel Nicolaus boosted their target price on Kodiak Gas Services from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, Mizuho started coverage on Kodiak Gas Services in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $36.00 price target on the stock. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.09.

Kodiak Gas Services Trading Up 7.0 %

The firm has a market cap of $2.94 billion, a PE ratio of 53.92 and a beta of 0.79. The company’s fifty day moving average price is $29.59 and its two-hundred day moving average price is $28.06. 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 (NYSE:KGS) last released its earnings results on Monday, August 12th. The company reported $0.23 EPS 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%. As a group, sell-side analysts forecast that Kodiak Gas Services, Inc. will post 1.15 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, November 1st will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend is Friday, November 1st. Kodiak Gas Services’s dividend payout ratio is currently 256.25%.

Hedge Funds Weigh In On Kodiak Gas Services

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Blackstone Inc. boosted its position in shares of Kodiak Gas Services by 1,358.3% in the 1st quarter. Blackstone Inc. now owns 644,231 shares of the company’s stock worth $17,613,000 after buying an additional 600,055 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Kodiak Gas Services during the 1st quarter worth about $11,544,000. HITE Hedge Asset Management LLC lifted its holdings in Kodiak Gas Services by 74.8% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 780,600 shares of the company’s stock valued at $21,279,000 after purchasing an additional 334,086 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Kodiak Gas Services by 63.2% during the second quarter. American Century Companies Inc. now owns 575,371 shares of the company’s stock worth $15,685,000 after buying an additional 222,830 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in shares of Kodiak Gas Services in the first quarter valued at approximately $5,184,000. 24.95% of the stock is owned by institutional investors and hedge funds.

Kodiak Gas Services Company Profile

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.