Kodiak Gas Services (NYSE:KGS) Research Coverage Started at Bank of America

Bank of America started coverage on shares of Kodiak Gas Services (NYSE:KGS) in a research note released on Wednesday morning, Marketbeat reports. The firm issued a buy rating and a $30.00 price objective on the stock.

KGS has been the subject of a number of other reports. Stifel Nicolaus increased their price target on shares of Kodiak Gas Services from $31.00 to $35.00 and gave the stock a buy rating in a research note on Wednesday, August 14th. Truist Financial upped their price objective 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 initiated coverage on shares of Kodiak Gas Services in a report on Wednesday, July 17th. They issued an equal weight rating and a $29.00 price objective on the stock. Finally, Royal Bank of Canada increased their price target 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 analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $31.78.

Kodiak Gas Services Stock Performance

NYSE KGS opened at $29.59 on Wednesday. The company has a 50-day simple moving average of $27.38 and a two-hundred day simple moving average of $27.12. 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 12-month low of $16.72 and a 12-month high of $29.91. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 33.62 and a beta of 0.90.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly earnings data on Monday, August 12th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.29). The firm had revenue of $309.65 million for the quarter, compared to the consensus estimate of $313.88 million. Kodiak Gas Services had a net margin of 5.23% and a return on equity of 7.20%. On average, equities analysts forecast that Kodiak Gas Services will post 1.15 EPS for the current year.

Kodiak Gas Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 12th were given a dividend of $0.41 per share. This is a boost from Kodiak Gas Services’s previous quarterly dividend of $0.38. The ex-dividend date was Monday, August 12th. This represents a $1.64 dividend on an annualized basis and a yield of 5.54%. Kodiak Gas Services’s dividend payout ratio is presently 186.36%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in KGS. Blackstone Inc. grew its position in Kodiak Gas Services by 1,358.3% during the first quarter. Blackstone Inc. now owns 644,231 shares of the company’s stock valued at $17,613,000 after buying an additional 600,055 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Kodiak Gas Services in the first quarter worth about $11,544,000. HITE Hedge Asset Management LLC lifted its stake in shares of Kodiak Gas Services by 74.8% in the second quarter. HITE Hedge Asset Management LLC now owns 780,600 shares of the company’s stock worth $21,279,000 after buying an additional 334,086 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Kodiak Gas Services by 63.2% in 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, Goldman Sachs Group Inc. raised its stake in Kodiak Gas Services by 20.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,279,636 shares of the company’s stock worth $25,695,000 after purchasing an additional 215,570 shares during the period. Hedge funds and other institutional investors own 24.95% of the company’s stock.

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.