Short Interest in Kodiak Gas Services, Inc. (NYSE:KGS) Grows By 20.1%

Kodiak Gas Services, Inc. (NYSE:KGS - Get Free Report) saw a large increase in short interest in May. As of May 15th, there was short interest totalling 6,400,000 shares, an increase of 20.1% from the April 30th total of 5,330,000 shares. Currently, 11.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,120,000 shares, the days-to-cover ratio is currently 5.7 days.

Institutional Trading of Kodiak Gas Services

Large investors have recently made changes to their positions in the business. Comerica Bank increased its holdings in shares of Kodiak Gas Services by 710.1% in the 4th quarter. Comerica Bank now owns 721 shares of the company's stock worth $29,000 after buying an additional 632 shares during the last quarter. Quarry LP bought a new position in Kodiak Gas Services during the 1st quarter valued at about $30,000. Sterling Capital Management LLC grew its holdings in Kodiak Gas Services by 1,322.6% during the 4th quarter. Sterling Capital Management LLC now owns 754 shares of the company's stock valued at $31,000 after purchasing an additional 701 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Kodiak Gas Services during the 1st quarter valued at about $37,000. Finally, Amalgamated Bank grew its holdings in Kodiak Gas Services by 112.6% during the 4th quarter. Amalgamated Bank now owns 1,110 shares of the company's stock valued at $45,000 after purchasing an additional 588 shares during the last quarter. 24.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KGS has been the topic of a number of analyst reports. Raymond James restated an "outperform" rating on shares of Kodiak Gas Services in a research note on Friday, March 7th. Barclays lowered their target price on shares of Kodiak Gas Services from $41.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Royal Bank of Canada set a $45.00 target price on shares of Kodiak Gas Services and gave the company an "outperform" rating in a research note on Tuesday, March 11th. Mizuho decreased their price target on shares of Kodiak Gas Services from $46.00 to $45.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 20th. Finally, Truist Financial boosted their price target on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Tuesday, March 11th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $40.55.

Kodiak Gas Services Price Performance

Shares of Kodiak Gas Services stock traded up $0.59 during trading hours on Friday, reaching $37.03. The company's stock had a trading volume of 590,531 shares, compared to its average volume of 863,806. The firm has a 50 day moving average price of $34.53 and a 200-day moving average price of $39.41. Kodiak Gas Services has a one year low of $24.84 and a one year high of $50.43. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.27 and a quick ratio of 0.93. The stock has a market cap of $3.28 billion, a P/E ratio of 127.68 and a beta of 1.59.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.03. Kodiak Gas Services had a net margin of 2.23% and a return on equity of 7.91%. The firm had revenue of $329.64 million for the quarter, compared to the consensus estimate of $328.45 million. During the same period in the previous year, the firm posted $0.39 EPS. The business's quarterly revenue was up 52.9% on a year-over-year basis. On average, analysts predict that Kodiak Gas Services will post 1.12 EPS for the current year.

Kodiak Gas Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a $0.45 dividend. The ex-dividend date was Monday, May 5th. This is an increase from Kodiak Gas Services's previous quarterly dividend of $0.41. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.86%. Kodiak Gas Services's payout ratio is 339.62%.

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.