Barclays Issues Pessimistic Forecast for Kodiak Gas Services (NYSE:KGS) Stock Price

Key Points

• Barclays cut its price target on Kodiak Gas Services from $76 to $72, while keeping an overweight rating. The new target still implies about 6% upside from the prior close.
• Despite the cautious move from Barclays, broader analyst sentiment remains positive: 8 analysts rate KGS a Buy, 2 rate it Hold, and the consensus target price is $78.75.
• Kodiak Gas Services recently beat quarterly earnings and revenue estimates, reporting $0.59 EPS on $345.76 million in revenue. However, insiders have also been selling shares recently, with total insider sales of 8,354 shares in the last three months.

Kodiak Gas Services (NYSE:KGS - Get Free Report) had its price target cut by equities research analysts at Barclays from $76.00 to $72.00 in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage currently has an "overweight" rating on the stock. Barclays's target price would indicate a potential upside of 6.07% from the stock's previous close.

A number of other analysts also recently issued reports on the company. Citigroup lifted their target price on Kodiak Gas Services from $63.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, May 13th. Zacks Research raised shares of Kodiak Gas Services from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 6th. Jefferies Financial Group initiated coverage on shares of Kodiak Gas Services in a report on Thursday, June 4th. They set a "buy" rating and a $79.00 target price on the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Kodiak Gas Services in a research report on Friday, May 29th. Finally, The Goldman Sachs Group increased their price target on shares of Kodiak Gas Services from $69.00 to $88.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $78.75.

Kodiak Gas Services Stock Performance

Shares of KGS opened at $67.88 on Wednesday. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of 91.73, a PEG ratio of 0.93 and a beta of 0.89. Kodiak Gas Services has a 12 month low of $30.06 and a 12 month high of $77.68. The firm has a fifty day simple moving average of $70.30 and a 200 day simple moving average of $56.86. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 2.38.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.05. Kodiak Gas Services had a net margin of 5.13% and a return on equity of 13.12%. The firm had revenue of $345.76 million for the quarter, compared to analyst estimates of $340.23 million. During the same period in the previous year, the business earned $0.33 EPS. The company's revenue was up 4.9% compared to the same quarter last year. Research analysts forecast that Kodiak Gas Services will post 2.36 EPS for the current fiscal year.

Insider Buying and Selling at Kodiak Gas Services

In other news, insider Pedro R. Buhigas sold 4,625 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $67.78, for a total transaction of $313,482.50. Following the transaction, the insider owned 38,454 shares in the company, valued at approximately $2,606,412.12. This trade represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ewan William Hamilton sold 2,729 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $68.62, for a total value of $187,263.98. Following the transaction, the chief accounting officer owned 31,617 shares in the company, valued at approximately $2,169,558.54. This trade represents a 7.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,354 shares of company stock valued at $568,536 in the last three months. 0.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its holdings in shares of Kodiak Gas Services by 0.9% during the fourth quarter. Van ECK Associates Corp now owns 23,640 shares of the company's stock worth $884,000 after buying an additional 209 shares in the last quarter. United Advisor Group LLC grew its stake in shares of Kodiak Gas Services by 2.0% in the fourth quarter. United Advisor Group LLC now owns 15,817 shares of the company's stock valued at $592,000 after acquiring an additional 304 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Kodiak Gas Services by 29.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,545 shares of the company's stock worth $90,000 after acquiring an additional 352 shares during the period. Comerica Bank raised its stake in Kodiak Gas Services by 1.8% in the 4th quarter. Comerica Bank now owns 20,499 shares of the company's stock worth $767,000 after purchasing an additional 357 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Kodiak Gas Services by 52.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,062 shares of the company's stock worth $40,000 after purchasing an additional 364 shares in the last quarter. 24.95% of the stock is owned by institutional investors and hedge funds.

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. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.